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.
Andrew Tyrie suggests there will not be enough time to implement Making Tax Digital (MTD) by April 2018
The ACCA has announced a partnership with UK research and development tax reclaim specialist RD Tax Solutions
The tax HMRC expects is underpaid by large companies through “transfer pricing” has risen by 60%
The chancellor has “missed an opportunity” to restore business confidence and encourage UK investment, said Mazars