France and Germany behind plans for 'common EU corporation tax'
France and Germany want to see common basic corporation tax rates across the EU, according to reports
By Matthew Holehouse, and Christopher Williams
2:41PM BST 26 May 2015
France and Germany are pushing plans to introduce a minimum corporation tax rate across the continent, it was reported today, in a move that could result in higher taxes on British companies.
European officials will debate plans to set a EU-wide floor on corporation tax in order to crack down on tax havens such as Ireland and Luxembourg, it emerged.
The plans are a direct challenge to David Cameron, who is calling for sovereignty to be returned to EU members.
Britain is likely to veto any proposals that see it surrendering power over tax rates to Brussels.
However, campaigners said it showed the scale of the challenge David Cameron faces in renegotiating Britain’s membership.
“It is a direction of travel issue,” said Robert Oxley, of campaign group Business for Britain. “It shows the EU thinks corporation tax is an area of common concern, suggesting there are those at the heart of the Eurozone who want more power over Britain, not less.”
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http://www.telegraph.co.uk/news/worldnews/europe/eu/11630468/France-and-Germany-behind-plans-for-common-EU-corporation-tax.html