TaxCorporate TaxCross-border tax base predicted in five years

Cross-border tax base predicted in five years

EU tax commissioner Laszlo Kovacs says move could cut tax complexity for business

A common EU tax base that operates across borders could
be in place within five years.

In a speech to ministers tomorrow, EU tax commissioner Laszlo Kovacs will say
that experts are making headway on the project, which could cut tax complexity
for businesses.

He expects legislative plans to be formed in 2008 that could be in force by
2011.

Germany is one of the key backers of the project, however Britain and Ireland
would be expected to opt-out of such a system due to it impinging on
national tax sovereignty, reports the
FT.

Kovacs said that 18 out of 25 had signaled support for the project.

Further reading:

High taxes forcing companies abroad

Companies to flee UK over tax crackdown

UK companies cast envious eyes abroad

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