![]() The Council also approved a new work package for the group, and encouraged it to develop general guidance to prevent tax avoidance, tax base erosion and profit shifting.Ĭommon Consolidated Corporate Tax Base (CCCTB) In their conclusions, the Ministers highlight the usefulness of the work done by the code of conduct group in assessing individual tax measures in the Member States. A working group was set up in 1998 to oversee its implementation and twice a year the group submits a report to the Council. ![]() The code, created in 1997, is used to assess the harmfulness of tax measures adopted, or in the process of being adopted, by the Member States. Pierre Gramenga was pleased to announce that 'We have reached an agreement on strengthening and improving the EU code of conduct', an issue which is, however, 'complex', revealing that the aim of the conclusions was to 'improve the efficiency and visibility' of the code. In the same context, the Council adopted conclusions on strengthening the code of conduct on business taxation aimed at eliminating measures that can create situations of unfair tax competition. Moreover, he highlighted the 'swift' work of the Presidency on this dossier. They identify EU directives as the preferred vehicle for implementing the OECD conclusions, with recourse to other non-legislative solutions for implementing certain anti-BEPS actions.Īt the press conference following the Council, Pierre Gramegna stated that the EU 'was, is and will remain a pioneer in the implementation of OECD recommendations', with the Minister also stressing that, to some extent, the EU had anticipated the BEPS actions following the formal adoption of the Council of the Directive on the automatic exchange of information on tax rulings. In their conclusions, the Ministers support an effective, swift and coordinated implementation by Member States of measures to be adopted at EU level. The phenomenon referred to as BEPS has been the subject of work by the OECD to address the challenges posed by the interaction of uncoordinated tax laws in different countries. ![]() Implementation of the BEPS project in the EUĪfter an exchange of views, the Council adopted conclusions on how to implement the Organisation for Economic Co‑operation and Development's ( OECD) conclusions on the BEPS project in the EU context. In addition, Ministers addressed the state of play of banking union legislation and the European Commission's proposal for a regulation establishing a European deposit guarantee scheme. The Council also discussed the progress on international aspects of a proposed common consolidated corporate tax base. The agenda of the meeting was largely devoted to taxation, with the adoption of conclusions on the future of a code of conduct on business taxation and on tax base erosion and profit shifting (BEPS). Pierre Gramegna attending the press conference on 8 December 2015 in BrusselsĮuropean Union (EU) Economy and Finance Ministers met in Brussels on 8 December 2015 for the 'Economic and Financial Affairs' (ECOFIN) Council, chaired by the Minister for Finance, Pierre Gramegna.
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