Common EU corporate tax rules eyed

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,
including Britain.

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