(February 14, 2015) 

On February 12, 2014 the European Parliament issued a press release announcing that on February 12, 2015 it voted as a whole on to set up a special parliamentary committee to look into EU member states’ "tax rulings and other measures similar in nature or effect" and make recommendations for the future. The committee will have 45 members and is established for an initial period of six months.

 

According to the press release the result of the vote was: 612 in favour, 19 against and 23 abstentions.

 

The press release furthermore states that the committee will look into tax ruling practices as far back as January 1, 1991, but that it will also review the way the European Commission treats state aid in member states and the extent to which they are transparent about their tax rulings. According to the press release the committee will also seek to ascertain the negative impact of aggressive tax planning on public finances and will come up with recommendations for the future.

 

The press release also states that the Economic and Monetary Affairs Committee plans to draw up an “inquiry” report (non-legislative, own initiative), on tax rulings will now lapse, because its remit would have overlapped that of the special committee.

 

The press release also contains a link to a document containing the names of the members of the committee. Click here to be forwarded to the press release as issued by the European Parliament.

 

 

Copyright – internationaltaxplaza.info

 

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