At a meeting of the 'Code of Conduct on Corporate Taxation' group on Wednesday 25 January, the member states of the EU did not manage to agree on a series of criteria to establish whether a jurisdiction facilitates offshore taxation structures.
The stumbling block to the negotiations is the reference to a zero corporate taxation rate (see EUROPE 11709). The Europeans did, however, manage to agree on the outlines of the letter be sent to the jurisdictions to be subjected to a prior...