Brussels, 23/02/2015 (Agence Europe) - Once the Commission has put forward improvements to its proposed common consolidated corporate tax base ('CCCTB') in June, “the time for discussions will be over”, Pierre Moscovici, the European commissioner for taxation, warned on Monday 23 February, at a joint conference with the IMF on corporate indebtedness.
“Then, the member states will have to face their responsibilities”, he explained, adding that this was a “vital reform, long awaited, too long awaited”. “It's been three years, we can't wait another three years”, he added. The French Commissioner and former finance minister acknowledged that the reason it takes so long for tax issues to be dealt with at EU level is the unanimity required for decision-making.
Ringing the changes with actions to be taken in the short term, he confirmed that the proposal on the automatic exchange of information on tax rulings would be presented on 18 March (see EUROPE 11250 and 11251). He also pointed out that the Commission had proposed an anti-abuse rule for the 'interest and royalties' directive, which is still on the table of the Council. (Elodie Lamer)