The European Commission (EC) have launched a public consultation on commercial tax transparency to explore whether companies disclosing more information about the taxes they pay could help prevent tax avoidance. The consultation looks set to end on September 9th.
The proposal lays out the next steps for greater tax transparency, within the EU and other relevant jurisdictions. In such framework, the Commission published a “top 30 list of non-cooperative tax jurisdictions around the world” which is made up of countries that are black-listed by at least 10 EU Member States.
At its weekly council meeting, the Commission also decided to set up a new service in charge of helping support Member States wanting to implement growth enabling reforms. It has been coined a new reform support service and looks to be positive in terms of providing technical assistance for Member States to implement growth-enhancing administrative and structural reforms.
The new service looks set to draw on the valuable knowledge and expertise of the Task Force for Greece and a Support Group for Cyprus, which will also be integrated. The major advantage for Member States is that anyone will be able to ask for support from the group, not just countrieswho are part of the program.