Tax rulings: special committee finalises its recommendations

 

30/11/2015


It has taken eight months of hard work, but the results are finally there: on Monday 26 October the special committee on tax rulings voted on its recommendations for achieving fair and transparent corporate taxation in Europe.

MEPs vote on them during November’s plenary session, although before that multinationals will still have a chance to share their views on the matter with the committee.

Taxation deals for multinationals


imatge
 

It can be technically legal for multinationals to benefit from a preferential tax treatment, but that does not make it necessarily fair as people and small and medium-sized companies still have to pay their taxes in full. On 21 October the European Commission released two decisions, stating: “Luxembourg and the Netherlands have granted selective tax advantages to Fiat Finance and Trade and Starbucks, respectively”. This is illegal under EU rules for state aid.

MEPs dealing with taxation issues have welcomed the Commission’s decisions, calling it “an important step forward to tackling aggressive tax planning practices by multinational corporations in Europe”.

Multinational corporations will have the opportunity to share their views on recent taxation developments during an estraordinary meeting of the tax rulings committee on 16 November. So far only Google and Facebook have accepted the invitation, but enterprises that previously declined invitations can still take part.//