Proposals for a common set of tax rules for businesses operating across
Europe are close to being revealed.
The plans, to be finalised by the European Commission, would create a tax
base by the end of this year, according to EU tax commissioner Laszlo Kovacs.
Kovacs said in the Financial Times that businesses were broadly
supportive of the plans, which he claimed could increase transparency and cut
red tape for businesses working around Europe.
‘The current system us a high compliance cost for business, there is a large
administrative burden,’ he said.
However, he pointed out that five EU members were against the plans,
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Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states