On Tuesday 12 September, the European Commission presented the ‘Business in Europe: Framework for Income Taxation’ (BEFIT) initiative, which is designed to simplify tax compliance and reduce the associated costs. It has also proposed a Directive on a common approach to transfer pricing.
BEFIT
The BEFIT Directive is intended to replace the CCCTB Directive (see EUROPE B12721A3) and proposes a common framework instead of 27 national corporate tax systems. It is based on the two-pillar...