BusinessEurope reacts to proposed EU Framework for Income Taxation
12 September 2023 - Commenting on the package of tax proposals announced by the European Commission today (the BEFIT and Transfer Pricing Directives), BusinessEurope Director General Markus J. Beyrer said: "The new framework can potentially support investment and growth across the single market, but should remain adaptable to ongoing changes in the international corporate tax system.
We welcome the Commission’s efforts to improve the existing tax framework for businesses operating in the EU. By deepening the single market and encouraging business expansion across different Member States, the proposals have the potential to support investment and growth. Nevertheless, it is important that any implementation of the BEFIT system is adaptable to significant, ongoing changes in the international corporate tax system.
The two directives proposed today must be implemented in a harmonised manner, support further simplification of the administration of tax returns, and minimise transfer pricing disputes both between Member States and with third countries.
We are ready to work with policymakers to ensure that both companies and citizens can fully reap the potential benefits of simplification and reduced compliance costs."