CCCTB corporate tax threat looms large

France and Germany are pressing ahead with a plan to harmonise EU corporate taxes, an initiative the Irish Government has long vowed to reject.

A joint meeting in Paris, between French and German governments, is eyeing the big prize of harmonising their tax systems, as advances on broader eurozone reform look unlikely.

The two countries are due to launch a €1bn fund to finance digital investments, French president, Emmanuel Macron, said.

However, real progress on economic integration could be achieved if the two eurozone heavyweights agree on concrete steps for harmonising the way corporate taxes are assessed.

German business newspaper, Handelsblatt, said finance ministers from both countries would present a roadmap, by mid-September, on how to align the basis for assessing corporate tax.

The plan would be finalised by December and could then be adopted next year, Handelsblatt added, citing sources involved in the negotiations.

Finance Minister, Paschal Donohoe, met with EU economics chief, Pierre Moscovici, in Brussels earlier this week. Mr Moscovici has been directed by the commission to win support and implement a new version of the common consolidated corporate tax base (CCCTB), after attempts by the EU to secure CCCTB ran into the sands over a decade ago.

The plan is widely viewed as a threat to Ireland’s low corporate tax regime.

  • Additional reporting Reuters


Lifestyle

Leopard print midi dresses and sequins swirled beneath glossy goddess hair and golden headbands as the great and the good of Cork gathered for ieStyle Live.Leopard print and sequins to the fore at inaugural #IEStyleLive event

You have a long half-term break ahead of you all, and there’s only so much screen time anyone in the family can handle. Everyone is going to need a book-break at some point or another.We reviewed some of the best new books to keep kids entertained over half-term

Sexual politics, snideput-downs and family rivalries are fuelling the trouble brewing in a small Midlands town.Charlie Murphy and Pat Shortt star in new Irish film 'Dark lies the Island'

Robert Hume tells of the eccentric MP for Athboy, Co. Meath – born 300 years ago this month – who thought he was a teapot, and was afraid his spout might break off.A strange brew of a man: The MP for Meath who believed he was a teapot

More From The Irish Examiner