The Taxing EU II

Brussels flags common corporate tax

An article in the FT says the EU’s tax commissioner Laszlo Kovacs said he would introduce legislation if necessary to improve tax co-ordination between the the EU’s 25 member states.

Mr Kovacs also set out papers on co-ordinating exit taxes for people who move to another member state. At present their assets are sometimes taxed twice.

Further papers on inheritance tax, withholding taxes and anti-avoidance rules are planned.

Mr Kovacs intended to publish legislation to create a common corporate tax base in 2008, and said the initiative had backing from a large number of member states.

Countries including Britain, Ireland and Slovakia are strongly opposed, but Mr Kovacs said he could go ahead anyway under the little-used “enhanced co-operation” rule, which allows groups of EU countries to pioneer projects.

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