Luxembourg/Brussels, 14/09/2015 (Agence Europe) - French finance minister Michel Sapin wants minimum effective taxation to be addressed before the end of the year as part of the review of the interest and compensation directive, he explained on Saturday 12 September on the fringes of the meeting of EU finance ministers.
His comments contrast with those made on Friday by Taxation Commissioner Pierre Moscovici, who said that work was continuing in cooperation at the European Commission and the Luxembourg Presidency of the Council of the EU “along with other presidencies.” The debate on Friday is not reported to have achieved much, with ministers simply making general comments on sovereignty in tax matters and the benefits of fiscal competition (see EUROPE 11387). Moscovici was happy that profits generated in the EU would be taxed at an appropriate level. It seems that work will continue to define exactly what an appropriate level might be. For several months, France has been making proposals based on the difference between both countries' calculation of effective taxation for the payment of compensation. (Elodie Lamer)