EU corporate tax overhaul divides opinion

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Plans to overhaul the taxation of company profits in the European Union have received a mixed response from across the profession.

The proposed system, the Common Consolidated Corporate Tax Base (CCCTB), will introduce a common definition of taxable profit across Europe.

On one side there is concern that the new measures involve a loss of national sovereignty over tax policy, but on the flipside it could be the only way to effectively tackle cross-border tax avoidance.

While there are flaws in the model for the CCCTB that is being proposed, a number of key tax voices have rallied “progressives” to support the proposals.

Richard Murphy, director of Tax Research UK, said: “A CCCTB makes complete sense - and is wholly supported by country-by-country reporting.

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19th Mar 2011 08:28

Why would you think that is the "offiicial impact assessment"?

It seems doubtful, don't you think, that the Oxford Business School would be responsible for the official Impact Assessment?! It is hardly an impartial body.

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