EU Bets on Sweeping Tax Simplification Bill to Boost Business

The European Commission is proposing a raft of exemptions from certain taxes and rules to headline the bloc’s corporate tax reform aimed at making it easier to do business.

The suite of changes to the EU’s tax rules seek to cut compliance costs by €7 billion ($8.17 billion) annually, according to a draft of the commission’s tax simplification plans seen by Bloomberg.

The Commission proposes broadening withholding tax exemptions to include more companies; a new research and development allowance accessible to any company across the EU; exemptions for small- and medium-sized enterprises as well as large companies ...