Fri. Jul 19th, 2024

Members of the EP’s subcommittee on tax matters on Tuesday quizzed Commissioner Gentiloni on the Commission’s plans on tax policy for the year ahead and possible obstacles.

Commissioner Paolo Gentiloni, responsible for economic and tax issues, outlined the European Commission priorities on taxation for 2022 and the upcoming proposals it would be presenting.

MEPs were particularly interested in having more details on how the Commission planned to craft its legislative proposals to implement the recent OECD agreement on an effective minimum corporate tax rate of 15% and on how to reform the code of conduct group on business taxation.

On the minimum corporate tax rate, Mr Gentiloni said that the Commission planned to stick strictly to the deal struck at the OECD, without adding further rules. Asked specifically on who was holding up the reform of the code of conduct group, the EU’s informal body notably tasked with establishing the EU’s list of tax havens, Mr Gentiloni said that Hungary and Estonia were the countries blocking.

MEPs also asked about the financial transaction tax, tax competition, a possible minimum tax rate for royalties, dividends and interests, and on how to balance the need for ambitious tax policy with that of not shutting down growth.

You can watch the meeting again here.

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