The EU Commissioner for Economic and Financial Affairs, Taxation and Customs reiterated the resolve of the European Commission to revive the long-stalled plans for a Common Consolidated Corporate Tax Base (CCCTB) within the European Union. According to the Commissioner, CCCTB would largely resolve the issue of profit shifting and harmful tax competition, and ensure a level-playing field for all enterprises active in the EU.
The Commission will have a two-pronged approach to CCCTB. Firstly, i…