EU Parliament Expresses Support for Corporate Tax Overhaul Bill

The European Parliament on Thursday voted to adopt an EU proposal that would devise a common way for calculating the tax base of multinationals operating in the EU.

The bill, known as BEFIT, was approved with 370 votes in favor, 160 against and 107 abstentions, according to a Parliament release.

If approved, the bill would aggregate the tax bases of the all EU countries into one single tax base, in theory making it easier for companies to do business across the bloc.

“Europe needs a fairer and more simplified approach to corporate taxation,” said Evelyn Regner, a deputy ...