EU-wide company tax base still on the agenda
An EU-wide company tax base took a step closer to reality last night after the European Commission's director-general of taxation and customs union reiterated his determination to forge ahead.
An EU-wide company tax base took a step closer to reality last night after the European Commission's director-general of taxation and customs union reiterated his determination to forge ahead.
Link: ‘IAS could lead to EU tax harminisation’
Speaking at the ICAEW Tax Faculty Wyman Symposium, Robert Verrue, said the EC strongly believes that a single EU-wide tax base is ‘in the long-term, the best response to the current challenges in the corporate tax field in the EU’.
‘If we are serious about the objective for the EU to become the most competitive economic area in the world, we must also be serious about tackling the company tax obstacles which hamper our business and undermine their international competitiveness,’ said Verrue.
He spoke of the role of the European Court of Justice as a driving force for changes in tax laws, but stopped short of saying individual countries would lose their independence in setting their tax rates. ‘Member states would continue to have full independence,’ he said.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleThe legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleAccountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...
View articleAs the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...
View articleThe Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...
View articleAs the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...
View article