European business warms to CCCTB
July 06, 2010
Taxpayers are looking into how a common corporate tax base might affect transfer pricing after a new report into how to complete the EU single market lent support to the plans of Algirdas Šemeta, European commissioner for tax, to introduce a proposal on the measure.
Since the publication of the Monti report in May and the work programme of Algirdas Šemeta, the new commissioner for taxation and customs union, audit and anti-fraud, in February, there has been considerable discussion about the pros and cons of introducing a common consolidated corporate tax base (CCCTB). And while many remain sceptical of its feasibility, there are signs that European business is warming up to the idea and the benefits it could bring in eliminating transfer pricing disputes.
Business Europe, which represents 20 millions companies from 34 countries, welcomes the potential benefits of a CCCTB.
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