European Commission insists Europe tax plan is fair

Revised plans to make sure companies operating in the EU pay tax in some jurisdiction in the union got a mixed reception after the European Commission outlined the details.

While the commission insists the plans would not interfere with each country’s right to decide its own corporation tax rate, they will affect how much tax will be collected by member states.

The main elements are a common corporate tax base that would harmonise what companies can offset against tax throughout the EU, a revised transfer pricing system, public disclosure of certain tax information by firms on a country by country basis, and stricter rules for preferential tax regimes.