Speech of Commissioner Šemeta "Tax coordination in Europe: The way forward after the Euro Plus Pact"
Talking at the European House Ambrosetti in Cernobbio (Italy) about the "Outlook for Financial Markets, for their Governance and for Finance", Algirdas Šemeta EU Commissioner in charge of Taxation said:
"I am convinced that in a globalised economy, a coordinated tax approach is the most efficient way forward. The "Euro Plus Pact" rightly advocates for a pragmatic tax coordination to support our enhanced economic coordination. Taxation is at the cross-road of 3 of our common challenges:
Smart consolidation: Particular attention has to be given to tax reforms.Environmental taxation is an interesting candidate in the search for shifting tax away from labour.
Business competitiveness: Companies currently spend a lot of time and money on corporate tax compliance obligations and suffer from over taxation. We proposed to offer businesses a common way to compute and consolidate corporate tax bases in the EU, the CCCTB.
And fair competition: Our Code of Conduct on business taxation is our principal tool to ensure transparency and trust. We need to make further progress on various topics such as fighting VAT fraud and reaching agreement on taxation of savings."
Full speech will be available 02/04/2011 at 09:00 am : SPEECH/11/232