The European Commission is publicly asking for feedback, which will help with the identifications of key measures to be included in the proposal for a Common Consolidated Corporate Tax Base (CCCTB).
The EC’s call out to the public comes after the implementation of the Commission’s Action Plan fora Fair and Efficient Corporate Taxation that was recently presented, in June 2015. The Commission intends to revise the legislation by next year, according to businesses’, civil society’s and other stakeholders’ recommendations.
The Commission believes that re-launching its proposal for the CCCTB lies behind that the fact that companies operating within EU borders could benefit from a much simpler way of taxable income calculation. It is made simpler whilst under a CCCTB, businesses should have to comply with only one EU system for taxable profit calculation. At present, the companies should comply with different legislation according to each member state, where they conduct their business.
‘I remain convinced that the CCCTB is the best instrument for fighting cross-border tax abuse and tax fraud & for easing the administrative burden on companies operating in the EU”.
– Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation & Customs.
CCCTB’s focus is to create a business friendly environment in the Single Market by reducing the administrative burden, compliance costs and any potential, legal uncertainties for companies. It could also work as an effective tool against aggressive tax planning.
The public consultation will remain open until the 8th of January 2016.