RegulationAccounting StandardsICAI president slams CCCTB as ‘major threat’

ICAI president slams CCCTB as ‘major threat’

The ICAI president launched a scathing attack on the European CCCTB at the institute's annual dinner

Vincent Sheridan, the
Institute
of Chartered Accountants in Ireland
(ICAI) president, said a European common
consolidated corporate tax base (CCCTB) ‘if successful’ would be a major threat
to one of the main planks of Ireland’s economic strategy.

‘One area where I do have real concern is the growing movement among the
larger European countries – with the exception of the UK – for a common
consolidated European tax base,’ he said.

‘This threatens one of the main planks of our economic strategy and if
introduced would render useless the protection negotiated in the EU Reform
Treaty that decision on tax rates required unanimous approval.

‘We will be the only country in Europe whose citizens will be voting on the
reform treaty. I am firmly in favour of a yes vote but I would like assurances
in the course of this debate that these calls for a common tax base across
Europe will not be allowed to jeopardise our economic growth strategy.’

Further reading:

Pan European tax system demanded

Editor’s letter: Taxation sans frontiers

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