European Parliament Committee Mulls Changes to Unified Tax Plan

Members of the European Parliament’s Committee on Economic and Monetary Affairs debated proposed tweaks to a plan that would seek to institute a unified corporate tax base for EU companies, at a meeting Wednesday.

At the meeting, Austrian member Evelyn Regner presented a draft proposal pitching improvements for the plan—known as the Business in Europe: Framework for Income Taxation, or BEFIT—including lowering the revenue threshold after the transitional period to 14 million euro so that more large companies fall within the scope of the plan.

Other proposed improvements included strengthening rules on interest limitation and controlled foreign corporations to ...