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Globalization: Firms may Submit their Tax returns at a SINGLE EU wide Counter

Posted on: March 31, 2011

Common Tax Base
What is the Common Consolidated Corporate Tax Base (CCCTB)?
Background
Practical Information on the Common Consolidated Corporate Tax Base Working Group (CCCTB WG)
Meeting reports

The European Commission believes that the only systematic way to address the underlying tax obstacles which exist for companies operating in more than one Member State in the Internal Market is to provide companies with a consolidated corporate tax base for their EU-wide activities. Targeted solutions have many merits and would go some way towards remedying the tax obstacles. However, even if all of them were implemented, they would not address the fundamental problem of dealing with up to 27 different tax systems.
What is the Common Consolidated Corporate Tax Base (CCCTB)?

The Common Consolidated Corporate Tax Base is a single set of rules that companies operating within the EU could use to calculate their taxable profits. In other words, a company or qualifying group of companies would have to comply with just one EU system for computing its taxable income, rather than different rules in each Member State in which they operate.

In addition, under the CCCTB, groups using the CCCTB would be able to file a single consolidated tax return for the whole of their activity in the EU. The consolidated taxable profits of the group would be shared out to the individual companies by a simple formula so that each Member State can then tax the profits of the companies in its State at the tax rate that they – each Member State – chooses, (just like today.)
The Commission proposal

The European Commission on 16 March 2011 proposed a common system for calculating the tax base of businesses operating in the EU.

The proposed Common Consolidated Corporate Tax Base (CCCTB), would mean that companies would benefit from a “one-stop-shop” system for filing their tax returns and would be able to consolidate all the profits and losses they incur across the EU. Member States would maintain their full sovereign right to set their own corporate tax rate.

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