The European Commission released a “Communication on Business Taxation for the 21st Century” on 18 May, setting a tax agenda for the next two years with five key actions. The aim is to align the EU tax framework with the new realities of the globalised and digitalised economy post-Covid, and to ensure that Member States’ tax systems are fit for purpose. In the Commission’s words: “the EU needs a robust, efficient and fair tax framework that meets public financing needs, while also supporting the recovery and the green and digital transition by creating an environment conducive to fair, sustainable and job rich growth and investment”.
The breadth of the changes is significant and it seems likely that the proposed changes will impact taxpayers with EU activities. Read more in our PwC Global Tax Policy Bulletin below.