EU Panel Progresses on Transfer Pricing, Tax Compliance Reform

A European Parliament panel approved advisory opinions in favor of two proposals aimed at making tax compliance easier for companies operating in the European Union’s single market.

European Parliament economic and monetary affairs committee members Thursday voted 28 to 3 with two abstentions to support a plan to harmonize transfer pricing rules within the EU. The committee also voted 30 to 3 with no abstentions on a proposal to permit smaller companies to liaise only with the tax administration of the country of their head office, even if they do business across the EU.

Lawmakers recommended the adoption of a ...