Brussels, 30/10/2015 (Agence Europe) - The European Commission is said to be considering unveiling a mini BEPs directive (named after an OECD action plan for tackling the erosion of tax basis and transfer of profits), probably in the first half of 2016, three European sources have informed this newsletter (see EUROPE 11407). In its work programme for 2016 adopted on Tuesday 27 October (see EUROPE 11419), the Commission suddenly announced: “We intend to withdraw the blocked proposal for a Common Consolidated Corporate Tax Base and replace it with proposals for a staged approach starting with agreeing a mandatory tax base.”
At the Council of Ministers, work has continued based on the current proposal for a CCCTB. Expert meetings were held on 10 September and Wednesday 28 October and a further meeting will take place on 20 November. Little information has filtered out about the contents of this supposed BEPS mini-directive, but it seems likely that it will include so-called international aspects of the current CCCTB plans, namely the rules for controlled foreign corporations, a general anti avoidance rule or GAAR and rules on interest limitation. If the cabinet office of Commission vice-president Frans Timmermans does not demand an impact assessment, the proposal could see the light of day in the first quarter of 2016. (Original version in French by Elodie Lamer)