The Rocky Road to Globalization.<\/p>\n
The EU, with a single currency and a single market is making moves to make tax treatment more uniform. \u00a0This may be a mini model for a global response to the current issues of national taxation while doing business globally.<\/p>\n
Eliza Ferreira, the co-rapporteur of a special committee on tax rulings, \u00a0says tax harmonization is not on the agenda but \u201cyou can\u2019t leave the EU member states complete freedom in a single market and single currency.\u201d She added that the need for action is urgent because the erosion of Europe\u2019s tax base is \u201cas bad as the [situation caused by] banks a few years ago,\u201d and creates an unstable political situation. On the state aid tax cases pursued by Competition Commissioner Margrethe\u00a0Vestager: \u201cWe are really supporting her. It was right for us to put pressure on the Commission. This is just the top of the iceberg.\u201d<\/p>\n
\u201cThe problems of Luxembourg are a generalized practice, it is not just Luxembourg \u2026 It is a game that is not controlled\u2026 We end up with multinationals paying almost no tax while the vulnerable go through very harsh austerity, as with SMEs who cannot benefit from all these mechanisms.\u00a0So our appeal is for a new approach; for Parliament and Commission to make the Council move.\u201d<\/p>\n
The committee is expected to call for new\u00a0impetus to deliver the\u00a0CCCTB\u00a0(Common Consolidated Corporate Tax Base) proposed by the Commission in 2011. They are not interested in tax rates per se.\u00a0\u201cThe levels don\u2019t really matter, what matters is how you calculate it and what the exemptions are,\u201d Ferreira says. Finally,\u00a0\u201cTax reporting needs to include how much is actually paid,\u201d and the\u00a0EU must define what is a tax haven, or at least lay out criteria for national governments to apply.<\/p>\n
The Rocky Road to Globalization. The EU, with a single currency and a single market is making moves to make tax treatment more uniform. \u00a0This may be a mini model for a global response to the current issues of national … Continue reading ![\"Tax\"](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/10\/Tax.png\")
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