EU lawmakers gave a cautious green light to new plans to set up an EU-wide corporate framework that would allow small firms to operate across the bloc.
In a vote in the European Parliament on Thursday (9 July), MEPs backed plans to include a consolidated corporate tax base, standardised tax returns and simplified value added tax procedures as part of a so-called ‘EU Inc.’
The proposal – tabled by the EU Commission in March and also referred to as the ’28th Regime’ – would be an optional rulebook aimed primarily at making it easier and faster for start-up firms to register.
It would be possible to create a company online for €100, with no minimum capital requirement, under the commission proposal.
“While focusing specifically on taxation, this report supports the ultimate goal of the overall EU. Inc endeavour: to create an ambitious, yet still caring space for European talent in business, and future growth and prosperity,” said Slovakian liberal Ludovít Ódor in a debate in Strasbourg on Thursday morning.
