On October 8, 2015 the European Commission launched a public consultation to help identify the key measures for inclusion in the re-launch of the proposal for a Common Consolidated Corporate Tax Base (Hereafter: CCCTB). According to a media release issued by the European Commission in this respect, a wide range of views is sought from businesses, civil society and other stakeholders. In the media release it is furthermore stated that the European Commission intends to come forward with revised legislation next year.

 

The consultation will run from October 8, 2015 until January 8, 2016.

 

The Commission expects to gather views in particular on the following:

·        To what extent the CCCTB could function as an effective tool against aggressive tax planning, without compromising its initial objective of making the Single Market a more business-friendly environment.

·        Which criteria should determine the companies that will be subject to the rules of a mandatory CCTB/CCCTB. Whether non-qualifying companies should still be given the possibility to opt for applying the common rules.

·        Whether a 'staged' approach, whereby priority will be given to agreeing the tax base before moving to consolidation, would be a preferable way forward.

·        Whether, in the short-term, it would be useful to agree common rules for implementing certain international BEPS-related aspects of the common tax base based on the current proposal until the Commission adopts the new (revised) CCTB/CCCTB proposal.

·        How the debt bias issue should be addressed.

·        Which types of rules would best foster R&D activity.

·        Whether a cross-border loss relief mechanism aimed to balance out the absence of the benefits of consolidation during the first step (CCTB) could help in keeping the business in the CCCTB.

 

Click here to be forwarded to the public consultation as launched by the European Commission on October 8, 2015.

 

 

Copyright – internationaltaxplaza.info

 

 

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