The European Commission has launched a far-reaching overhaul of its corporate tax rules, designed to save businesses a little under €8bn a year.
It will make Europe a “more attractive and easier place to invest, innovate and do business,” said economy commissioner Valdis Dombrovskis on Wednesday (24 June).
An EU official, speaking off the record, called it the EUs “biggest and most ambitious” tax reform to date.
The package consists of two proposals: a Direct Taxation Omnibus that amends six major tax directives at once, and another, the Directive on Administrative Cooperation (DAC), that merges nine overlapping pieces of tax legislation into a single text.
Cross-border tax removal
