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Corporate tax - EP gives thumbs up to corporate tax base as step to ending tax arbitrage, reducing business costs

Date

19 Apr 2012

Sections

Euro & Finance

The European Parliament today voted to endorse legislative proposals for an EU common consolidated base for corporate tax (CCCTB). The Greens have long supported the introduction of a binding EU CCCTB and welcomed today's vote. After the vote, Green economic affairs spokesperson Philippe Lamberts said:

"Introducing a common corporate tax base is a key measure for ending tax arbitrage in Europe, as well as reducing business costs, and the EP has today fully backed the proposals to this end. If it is to work, the CCCTB has to be binding and the EP has today underlined this point, calling for a mandatory CCCTB for all large enterprises, whilst leaving small and medium sized enterprises the option to choose to apply the common base if they wish.


"A common corporate tax base would ensure greater transparency on corporate tax in the EU and reduce the scope for tax evasion, as well as reducing the administrative burden for tax compliant cross border firms. The CCCTB must only be the first step for tackling tax evasion and dumping in Europe, and must be followed up by a minimum corporate tax rate, which together would help end the tax dumping that enables corporations in the EU to avoid up to €100 billion in tax payments. The EP has today given a signal in this direction. We now look to the Commission and EU governments to be more proactive to this end."

Richard More O'Ferrall,

Press and media officer,

Greens/EFA group in the European Parliament

Mobile: +32-477-443842 - Ph. +32-22841669 (Brussels); +33-388174042

www.greens-efa.eu - http://twitter.com/GreensEP