The European Commission has published a summary of the responses received to its consultation on options for requiring further disclosure of corporate tax information at EU level, which ran from June to September 2015. The proposals were based around country-by-country reporting and paying taxes where profits are made, and identified five key areas for action: relaunching the common consolidated corporate tax base (CCCTB); ensuring fair taxation where profits are generated; creating a better business environment; increasing transparency; and improving EU coordination.
The responses indicated that support for EU initiatives beyond the OECD’s BEPS project was greater among public organisations, such as NGOs and trade unions, than businesses in general. ‘A staggering 96% of NGOs and trade unions surveyed believe that the EU should be at the forefront and possibly go beyond OECD’s BEPS and extend current disclosure requirements,’ the report stated. ‘An overwhelming majority (88%) of individuals declared the same [but] almost half of businesses (45%) believe that the EU should implement international initiatives such as BEPS at the same pace as global partners to level the playing field. Approximately a third of companies (34%) are happy with the status quo and deem current requirements to be sufficient. Of the remaining respondents, more argue that implementation should be left to the discretion of member states rather than the EU.’
The European Commission has published a summary of the responses received to its consultation on options for requiring further disclosure of corporate tax information at EU level, which ran from June to September 2015. The proposals were based around country-by-country reporting and paying taxes where profits are made, and identified five key areas for action: relaunching the common consolidated corporate tax base (CCCTB); ensuring fair taxation where profits are generated; creating a better business environment; increasing transparency; and improving EU coordination.
The responses indicated that support for EU initiatives beyond the OECD’s BEPS project was greater among public organisations, such as NGOs and trade unions, than businesses in general. ‘A staggering 96% of NGOs and trade unions surveyed believe that the EU should be at the forefront and possibly go beyond OECD’s BEPS and extend current disclosure requirements,’ the report stated. ‘An overwhelming majority (88%) of individuals declared the same [but] almost half of businesses (45%) believe that the EU should implement international initiatives such as BEPS at the same pace as global partners to level the playing field. Approximately a third of companies (34%) are happy with the status quo and deem current requirements to be sufficient. Of the remaining respondents, more argue that implementation should be left to the discretion of member states rather than the EU.’
