Irish parliament member Brian Hayes has published a release confirming that seven national parliaments in the EU have objected to the European Commission’s proposal for a Common Consolidated Corporate Tax Base. The proposal includes a two-step approach for major EU-wide tax reform that would begin with a Council Directive on a Common Corporate Tax Base (CCTB), followed by a Council Directive on a Common Consolidated Corporate Tax Base (CCCTB) (previous coverage).
The national parliaments opposed to the proposal are Ireland, Sweden, Denmark, Malta, and Luxembourg, as well as two chambers of the Dutch Parliament. The UK House of Commons also published a report criticizing the proposal but did not issue a formal objection. The number of objections is not enough to trigger the formal yellow card procedure for EU legislation (requires at least 33% objection), but according to Hayes, there is a serious onus on the Commission to understand the concerns of the various Member States, especially given that the Commission failed to get CCCTB "over the line" in the past.
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