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EU: Parliament calls for corporate tax makeover

 |  November 25, 2015

Parliament sets out its ideas on how to make corporate taxes fairer across Europe in a resolution voted on Wednesday. MEPs urge EU member states to agree on mandatory country-by-country reporting by multinationals of profits and taxes, a common consolidated corporate tax base, common definitions for tax terms and more transparency and accountability with regard to their – so far secret – national tax “rulings” for companies.

MEPs believe that multinational companies should pay their taxes where they make their profits. They feel that today’s corporate tax competition – prompting aggressive tax planning and evasion, without any agreed framework – is harmful.

Apart from the loss of public income, they consider it unfair that big companies pay hardly any taxes on their profits, whereas citizens and small and medium-sized firms have to pay their full share.

Full content: European Parliament News

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