MEPs will today debate the European Commission’s new proposal for a Common Consolidated Corporate Tax Base (CCCTB).
Commenting ahead of the debate, Green economic and finance spokesperson Molly Scott Cato said:
“The way we currently tax companies, treating subsidiaries from the same company as if they are completely independent entities, does not reflect the reality of their operations. Implementing a common and consolidated corporate tax base would be a crucial step towards ending tax avoidance by global corporations in Europe. However, this approach would be much more effective if it was combined with a minimum corporate tax rate across Europe, bringing an end to the race to the bottom on rates.
“It is deeply regrettable that while the EU is finally moving forward on a common approach to corporate tax, the UK government seems to be more interested in how it can become the world's premier tax haven.”