Companies
Paolo Gentiloni sets out new plans to unify EU member states tax regulations
The EU Commissioner said EU tax rates would be nationally determined as is currently the case
The European Commission is exploring stricter rules to unify how large multinationals are obliged to record their taxable profits across Europe.
The move comes following previous failed attempts by the European Commission to clampdown on how large international firms calculate taxable profits.
Paolo Gentiloni, the European Commissioner for Economy, said the new ‘BEFIT' system will be a single set of rules to determine the tax base of large groups and mandatory for approximately 4,000 multinationals.