Today, S&D Euro MPs in the economic and monetary affairs committee backed new rules for corporate taxation in Europe to ensure that companies pay their taxes where profits are made.
Both proposals approved by the Parliament for a common tax base and a common consolidated tax base are setting new standards for corporate taxation to resolve the issue of tax shifting, worth €200 billion in tax losses for the EU member states.
Paul Tang, S&D Euro MP who drafted the report on the common corporate tax base, said: