The Commission's proposal Business in Europe: Framework for Income Taxation (BEFIT) deals with a new single set of rules to determine the tax base of groups of companies, and is aimed at reducing tax compliance costs for large businesses operating across borders and making it easier for national authorities to determine which taxes are due. Directly linked to BEFIT is the proposal on transfer pricing, with the purpose to harmonise transfer pricing rules of Member States and to ensure a common application of the arm's-length principle within the EU. The new framework builds on the previous experiences from the common consolidated corporate tax base CCCTB, the OECD/G20 international tax agreement concerning the global minimum level of taxation, and on the Pillar Two Directive adopted at the end of 2022.
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The rise of cross-border teleworking poses challenges to the taxation systems around the world. The increased ability for an employee to telework from another country raises tax issues that affect both employees and employers.
The market of crypto assets continues to grow, bringing with it both opportunities and challenges. Whilst it is important to harvest the potential the technological innovations offer, the associated risks have to be closely monitored. The hearing will take stock of new developments in the crypto sector, raise awareness, and come up with policy proposals to tackle emerging risks, in order to protect consumers and preserve financial stability.
The COVID-19 pandemic has changed the lives of workers and businesses in unprecedented ways. A key change during the COVID-19 pandemic, with travel restrictions in place and governmental limitations on the number of employees present in offices in order to reduce transmission of the COVID-19 virus, has been the rise of cross-border teleworking.
The EESC will organise a hearing with the title: ''New own resources package: The three engines for financing growth and recovery of the European economy'' in order to present the views of all relevant stakeholders and civil society for this initiative to support the funds for NextGenerationEU.
In order to reshape the European economy and in line with the objectives stated by the European Commission for a more sustainable, greener and digitalised economy, investments must support environmental goals and remove obstacles to corporate dividend policymaking and payments. Among many other factors, the debt-equity bias in the corporate tax systems affects both the leverage of firms and corporate governance. The EESC welcomes the recent public consultation on a new initiative to mitigate the debt-equity bias in corporate taxation launched by the European Commission and shares the Commission's view that companies should contribute to the achievement of a greener, sustainable and digitalised economy.
Activities of organised crime organisations like money laundering and the tapping of public funds have consequences for the economy, business and society. A crisis like the Covid-19 pandemic may be an opportunity for organised crime to spread their activity, gain power and even innovate to find new ways to pursue their objectives.
Following the outbreak of the COVID-19 pandemic, the European Economic and Social Committee (EESC) played a central role in bringing the consensual views of organised civil society in the EU to the attention of policy-makers and contributing to the rapidly evolving economic policy response at European level.
In this regard, we believe that now is the time for the EU institutions to make decisive steps in approving swiftly the new Facility and putting in place the necessary implementation mechanisms at European and national level, so that the hardest hit Member States, citizens and businesses can benefit from the relevant EU funding when they need it most.
Europe and its Member States have to deliver wellbeing to the citizens and this can only be done through investments and jobs. This means that the impact which taxes and tax measures have on investments, jobs, trade and growth must be brought to the forefront of the debate.
While the OECD stresses that all taxes have the potential to discourage growth, its analysis of tax structures has found corporate taxes to be the form of taxation that is most harmful to economic growth. Empirical studies confirm that there is a negative relationship between corporate taxes and economic growth.
In order to encourage a broader and more balanced discussion on taxation, the Employers' Group requested that the EESC commission, in 2018, the study on The role of taxes on investment to increase jobs in the EU – An Assessment of Recent Policy Developments in the field of corporate taxes.
The public hearing on "Towards a more resilient and sustainable European economy with a vision for completing EMU" to be held on Friday, 12 April 2019, starting at 11.30 a.m., will discuss from a wider civil society perspective the future of the European economy and the political initiatives and decisions that need to be taken during the upcoming legislative term and beyond. Taking into account the conclusions of the debate, the EESC will draw up two own-initiative opinions, entitled "Towards a more resilient and sustainable European economy" and "A new vision for completing the Economic and Monetary Union", to be forwarded to the new European Parliament and European Commission.
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