The European Commission has adopted a new tax package designed to ensure that EU tax policy supports Europe’s economic recovery and long-term growth. The new tax package seeks to boost tax fairness, by intensifying the fight against tax abuse, curbing unfair tax competition and increasing tax transparency. It also focuses on simplifying tax rules to improve the environment for businesses across the EU. The package is made up of three separate but related initiatives:
1. 25-point tax action plan: setting out measures to:
reduce tax obstacles and administrative burdens for businesses in the single market (for example, by creating a single EU VAT registration);
facilitate enforcement of existing tax rules and improve tax compliance;
help tax authorities better exploit existing data and share new data more efficiently, to improve enforcement and to combat tax fraud; and
increase awareness of taxpayer rights under EU law.
2. Proposal on administrative cooperation (DAC 7): to extend EU transparency rules to online platforms so that member states automatically exchange information on income generated by sellers on those platforms.
3. Commission communication on tax good governance: including reform of the Code of Conduct on Business Taxation and a review of the EU list of non-cooperative jurisdictions.
The European Commission has adopted a new tax package designed to ensure that EU tax policy supports Europe’s economic recovery and long-term growth. The new tax package seeks to boost tax fairness, by intensifying the fight against tax abuse, curbing unfair tax competition and increasing tax transparency. It also focuses on simplifying tax rules to improve the environment for businesses across the EU. The package is made up of three separate but related initiatives:
1. 25-point tax action plan: setting out measures to:
reduce tax obstacles and administrative burdens for businesses in the single market (for example, by creating a single EU VAT registration);
facilitate enforcement of existing tax rules and improve tax compliance;
help tax authorities better exploit existing data and share new data more efficiently, to improve enforcement and to combat tax fraud; and
increase awareness of taxpayer rights under EU law.
2. Proposal on administrative cooperation (DAC 7): to extend EU transparency rules to online platforms so that member states automatically exchange information on income generated by sellers on those platforms.
3. Commission communication on tax good governance: including reform of the Code of Conduct on Business Taxation and a review of the EU list of non-cooperative jurisdictions.
