Paul Grant, Accountancy Age, Friday 29 October 2010 at 09:37:00

Formal proposals for a common consolidated corporate tax base to be releasedin 2011


The EC plans to produce proposals for a common European tax base next yearfor businesses operating across member states.

The formal proposal for a common consolidated corporate tax base will beissued by the EC next year, according to European tax commissioner Algirdas?emeta, as part of a raft of measures to strengthen the single market. Concernshave been raised that the move could increase costs for businesses operating incertain countries, according totax-news.com.

The EC denied that the move was the first step towards harmonization of taxrates across the EU.