Re-launch of the Common Consolidated Corporate Tax Base (CCCTB)

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Presentation transcript:

Re-launch of the Common Consolidated Corporate Tax Base (CCCTB) Uwe IHLI Head of Sector, Corporate Tax Directives and Common Consolidated Corporate Tax Base, TAXUD

What is the CCCTB? A common EU tax base that is mandatory (in the 2011 proposal as an option for all companies) for internationally active groups The consolidation of different tax bases Appropriate apportionment of tax base to Member States Member States are free to set rates on their share of consolidated tax base

Objectives for the CCCTB (re-launch) Reducing administrative burden Simplifying the Single Market for business Facilitate cross-border activity for companies resident in the EU AND A framework for a fair and efficient taxation of corporate profits Tackling aggressive tax planning Ensuring that income is taxed where value is created

Implementation in stages Two new proposals under preparation A Common Corporate Tax Base (CCTB) – first step Elements related to consolidation added in a second step = CCCTB In parallel the currently pending proposal will be withdrawn. The work undertaken in Council on the International aspects of the current CCCTB (document 14544/14) is - to a major extent - reflected in the ATA Directive.

What is new? The CCTB will need to reflect the provisions proposed in the ATA Directive and the work in Council during the last 4 years on Controlled Foreign Company (CFC legislation) including Switch-over rules General Anti-Abuse Rule (GAAR) Interest Limitation rules Exit taxation

What is new? (cont'd) Possible new provisions included in the public consultation from 8.10.2015 (closed on 8.1.2016): Hybrid Mismatch rules Treatment of Cost for Research and Development Tackling the Debt Equity Bias Cross-border Loss Relief

What is new? (cont'd) More than 170 contributions received in the public consultation Currently analyzed by the colleagues in DG TAXUD Responses and the report/summary on the public consultation probably made public end of February

Open issues for European banks within the CCTB Specific Interest limitation rule for Banks? Treatment of hybrid regulatory capital within the hybrid mismatch rules? CFC legislation in respect to third countries (Carve-out for finance and insurance industry)? Sector-specific [bad] debt provisions?

CCCTB in the Commission Work Programme 2016 Corporate Tax Package - Following up on the Communication on A fair and efficient corporate tax system in the European Union: 5 key areas for action, the package includes a set of measures to enhance transparency of the corporate tax system and fight tax avoidance, including by implementing international standards on base erosion and profit shifting, and a staged approach starting with a mandatory tax base (REFIT) together with withdrawal of the existing CCCTB proposal. Roadmap for the CCCTB is public.

Thank you for your attention!