EU Wants Input on BEFIT Corporate Tax Consolidation Plan

The European Commission is inviting comments on its latest plan to bring the European Union’s 27 sets of national tax rules into one, consolidated, tax base.

Its idea—an initiative called Business in Europe: Framework for Income Taxation initiative—is a common EU corporation tax framework comprising “a single set of rules for calculating, consolidating and sharing tax bases,” a commission document released Thursday said.

• Under the plan, the right to tax corporate profits would then be allocated to EU countries via “formulary apportionment,” the document said.
• Interested parties can submit comments on the outline plan through Jan. 5. Comments will feed ...