KPMG report: European Commission business tax agenda
A report discussing developments that have taken place since the European Commission released its Communication on Business Taxation
A report on the Communication on Business Taxation for the 21st century
KPMG’s EU Tax Centre prepared a report discussing developments that have taken place since the European Commission released its Communication on Business Taxation for the 21st century [PDF 620 KB] in May 2021. Read TaxNewsFlash
Background
The communication set out the EC’s views on the EU's tax policy agenda and plans for the implementation of the rules to be agreed upon at international level under the OECD’s BEPS 2.0 project.
The communication also outlined targeted solutions that went beyond the OECD agreement, in the form of five action points that were meant to support the EU's ambition for a holistic EU business tax framework that provides for a "robust, efficient and fair tax framework that meets public financing needs, while also supporting the recovery and the green and digital transition by creating an environment conducive to fair, sustainable and job rich growth and investment.”
EU Tax Centre report
The EU Tax Centre’s August 2022 report [PDF 747 KB] provides an overview of the current status and next steps for key EU wide tax initiatives from the EC’s communication including:
- Implementation of the global agreement on BEPS 2.0 in the EU and the future of the EU digital levy
- The announced initiative of disclosing effective tax rates paid by large companies
- Targeting the use of shell entities
- The proposal on creating a debt equity bias reduction allowance
- Status of the upcoming new framework for income taxation for businesses in Europe
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