ECONOMY - FINANCE - BUSINESS / Taxation

European Commission outlines its future ‘BEFIT’ proposal, closely linked to OECD negotiations

Brussels, 18/05/2021 (Agence Europe)

On Tuesday 18 May,the European Commission unveiled its plans to put in place “a company tax system fit for the 21^st century”. Its flagship measure: withdraw its proposal for a common consolidated corporate tax base (CCCTB) and replace it with a brand new proposal entitled ‘Business in Europe Framework for Income Taxation’ (BEFIT), to be presented in 2023 (see EUROPE B12720A15).

“It will create a common rulebook for groups of companies operating across the single market; reduce...