(March 18, 2015)
On March 18, 2015 The European Commission presented its Tax Transparency Package.
The central component of the Transparency Package is a legislative proposal to improve cooperation between Member States in terms on their cross-border tax rulings and according the European Commission it aims to mark the start of a new era of transparency.
Click here to be forwarded to the proposal for a Council Directive amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation.
Other Tax Transparency initiatives the European Commission is considering include a.o.:
· Assessing possible new transparency requirements for multinationals;
· Reviewing the Code of Conduct on Business Taxation;
· Quantifying the scale of tax evasion and avoidance; and
· Repealing the Savings Tax Directive
Other documents that were published are:
In a press release released in this respect the European Commision states that the next milestone will be an Action Plan on Corporate Taxation which will be presented before the summer. This second Action Plan will focus on measures to make corporate taxation fairer and more efficient within the Single Market, including a re-launch of the Common Consolidated Corporate Tax Base (CCCTB) and ideas for integrating new OECD/G20 actions to combat base erosion and profit shifting (BEPS) at EU level.
Click here to be forwarded to the press release as issued by the European Commission.
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