The EC corporate tax action plan, launched on 17 June 2015 (see Tax Journal news, issue 1268), was debated by the European Parliament on 24 June 2015. MEPs asked the EC to accelerate its work in order to deliver legislative proposals. There was a further debate on 2 July 2015 at a joint hearing held by the Economic and Monetary Affairs and Tax Rulings committees.
The action plan sets out various measures intended to tackle tax avoidance, secure sustainable tax revenues, and strengthen the European single market. To do this, the action plan proposes introducing a mandatory European common consolidated corporate tax base (CCCTB) and various proposals to close legislative loopholes, improve transfer pricing and implement stricter controls on preferential tax regimes.
The EC corporate tax action plan, launched on 17 June 2015 (see Tax Journal news, issue 1268), was debated by the European Parliament on 24 June 2015. MEPs asked the EC to accelerate its work in order to deliver legislative proposals. There was a further debate on 2 July 2015 at a joint hearing held by the Economic and Monetary Affairs and Tax Rulings committees.
The action plan sets out various measures intended to tackle tax avoidance, secure sustainable tax revenues, and strengthen the European single market. To do this, the action plan proposes introducing a mandatory European common consolidated corporate tax base (CCCTB) and various proposals to close legislative loopholes, improve transfer pricing and implement stricter controls on preferential tax regimes.
