TaxCorporate TaxUK softens on common EU tax base

UK softens on common EU tax base

British opposition to the move rumoured to be softening in wake of corporate exodus

British opposition to the EU project for a common consolidated corporate tax
base (CCCTB) may be softening,
the
FT reported
.

Lobbyists in Brussels believe the UK government may be more attracted by the
idea in a bid to address the issue of large corporates leaving the UK for tax
reasons.

The CCCTB would make it more difficult for companies to take advantage of
low-tax jurisdictions, it is thought.

Conor Foley, of Hume Brophy, a lobbying firm, said there was growing
speculation about the UK’s position.

Though the UK government rejects the idea publicly, it is apparently more
considered in private.

The Treasury said in response: ‘Like a number of other EU member states the
UK is deeply skeptical of the case for a common consolidated corporate tax base.
In an increasingly globalised world, countries, need the flexibility to respond
to shocks, and stimulate investment, employment and economic growth in different
ways. Adopting a single set of rules for calculating the tax base within the EU
would restrict flexibility and be counterproductive to achieving those goals.’

Further Reading:

Read
the FT story

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

1m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

3m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

4m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

7m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter