The EU Commission has prepared a paper in advance of a May 9 EU leaders meeting which identifies six areas where the Commission believes work should be done in the area of taxation.
The paper, A drive for a fair and effective tax system in the EU, will be considered as the leaders discuss the EU’s strategic agenda for 2019–2024, including plans for an improved tax system at their summit in Sibiu. Romania.
The Commission’s list of priorities includes enacting a common consolidated corporate tax base (CCCTB) in Europe. The CCCTB will reduce aggressive tax planning while boosting growth in the EU, the Commission says.
Continued work on the EU list of non-cooperative tax jurisdictions is also required, including monitoring whether countries that pledge reforms deliver on their promises, the Commission says.
Further, the Commission says that multinational companies most at risk of aggressive tax planning should publish the amount of tax they pay to each EU Member State.
The controversial issue of the taxation of digital activities also needs resolution to secure tax revenues and ensure fair competition, the Commission says.
The creation of a single EU VAT area is also a priority.
Finally, the Commission says a move to EU qualified majority voting decision-making on tax issues should be considered.
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