1989 - 2018 29 years in business Sunday, 22nd July 2018

EC Renews Calls For Common tax Base


Dear Clients, 

 

European Competition Commissioner Margrethe Vestager has called for a common

Consolidated corporate tax base (CCCTB) and the automatic exchange of information

On tax rulings.

 

Vestager appeared before a hearing of the parliament’s Special tax ruling

Committee on May 5, In her opening remarks, she said” there is a lot of secrecy

Around tax ruling, member states are not transparent about their rulings and

Exchange very few of them.

 

Vestager said there has been no pattern to the Commission’s investigations of the

Rulings handed down by individual European Union ( EU ) members states, “ we

Have now asked every country about their tax ruling. With our limited resources,

we look at cases that will set a precedent, so that we generate incentives for

member states to change,» she explained”.

 

Vestager added that “for the Commission to work in a dedicated, fast and just manner

We need at least the automatic exchange of information on tax ruling and a common

Consolidated corporate tax base, we might also have to prepare guidance’s for member

States to explain in detail what is allowed and what is not. But for that we need more case law.

 

When asked whether the adoption of the enhanced corporation procedure by a group of member

States would help deliver a CCCTB, Vastager replied that enhanced corporation between a

Coalition of the willing is not a good idea, as it might scare member states away and because

Competition is important for all the EU member states.

 

Should you require any further clarification, Please do not hesitate to contact us at:

infor@cardwell-capital.com

 

Kind Regards

Cardwell Advisory Desk

 

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