Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, has welcomed the final package of Base Erosion and Profit Shifting (BEPS) measures that the Organisation for Economic Co-operation and Development (OECD) adopted today.
The BEPS package sets out a new international approach to corporate tax reform, aimed at preventing corporate tax avoidance and re-aligning taxation to the place of real economic activity.
“The OECD has done impressive work to help countries around the world find common solutions to common tax challenges. The final BEPS package published today, which identifies measures towards fairer and more effective corporate taxation worldwide, is a very important milestone towards greater tax transparency and efficiency. We must now ensure that these measures are implemented consistently and coherently, to ensure a level playing field for all businesses and countries involved,” said Commissioner Moscovici.
“The fight against tax avoidance and the quest for fairer taxation are among our highest political priorities. The Action Plan that the Commission presented in June launched an ambitious process of corporate tax reform, aligned to the BEPS project and tailored to our Single Market. I will continue to work with Member States to ensure that BEPS is implemented in a coordinated way within the EU, in order to enshrine fairness in our tax systems, protect governments’ revenues and safeguard EU competitiveness. We need to move forward decisively with this revolution in tax transparency, and the EU can lead the way – starting with a robust agreement on the automatic exchange of information on tax rulings which I hope we will see at tomorrow’s ECOFIN Council.”
President Juncker confirmed the EU’s strong support for this initiative at the G20 Summit in Brisbane last November, when he said this work should be finalised in the shortest possible timeframe as part of the fight against tax evasion.
Read more on the EU Action Plan for Fair and Effective Taxation: IP/15/5188
In this context stay tuned for our program on BEPS in the Spring of 2016.