Brussels, 03/06/2015 (Agence Europe) - Quoted in the Financial Times, financial secretary to the British treasury David Gauke told the European Parliament on Monday 1 June that the draft common consolidated tax basis for company tax (CCCTB) “has been around a very long time. It is a proposal still looking for a justification.”
He described “worrying talk across the Channel of minimum tax rates applied on profits”, adding: “Any form of EU minimum tax rates would undermine our sovereignty and we therefore would block it.” The Commission has already denied wanting to introduce a minimum tax rate, but as demanded by France, Germany and Italy, it does want to ensure that taxes are effectively paid. This would probably take the form of amendments to two directives ('interest and dividends' and 'parent-subsidiary companies'), developing criteria and guidelines in order to ensure companies cannot get away with paying a token level of tax in one member state in order to be granted exemption in the country from where the payment is made. (Elodie Lamer)