“Corporate taxation action plan” launched by European Commission

On 17 June 2015, the European Commission launched its action plan for fair and efficient taxation in the EU. Within the package to be consulted upon are plans for a common consolidated corporate tax base (CCCTB) and a number of administrative measures around cross-border cooperation, dispute resolution and greater transparency.

The UK Government has already signalled its opposition to the proposed mandatory CCCTB (which, in broad terms, seeks to tax profits where they are made, much like the UK’s own Diverted Profits Tax and elements of the OECDs’ Base Erosion and Profit Shifting (BEPS) project).

The action plan can be viewed here.