On 18 March 2015, the European Commission has outlined its 'Tax Transparency Package'. The package includes a legislative proposal introducing the automatic exchange of information between Member States on their tax rulings and a communication outlining a number of other initiatives to advance the tax transparency agenda in the EU in order to fight tax evasion and avoidance.
Sven Giegold, Green economic and finance spokesperson welcomed the planned improvement on information exchange between member states, but considered the package as “a drop in the bucket” and underlined that more efficient measures were needed to ensure a credible EU response to all systems of tax avoidance.
In his view, there is a need for a binding common consolidated corporate tax base (CCCTB) and a European minimum corporate tax rate based on it in order to avoid tax dumping. The MEP doubts that the European Commission’s idea on tax competition could help achieve the above goal and would like take further steps regarding tax transparency. For more information, please read the article of Sven Giegold.
BETTER FINANCE's view on taxation issues for EU investors behind the recently adopted new Directive on Administrative Cooperation (DAC2) is available here.