European Commission proposes new business tax framework

The European Commission (EC) has released a Communication on Business Taxation for the 21st century that is intended to promote “a robust, efficient and fair business tax system in the European Union.”

The plan sets out both a long-term and short-term vision to support Europe’s recovery from the coronavirus (COVID-19) pandemic; is intended to provide adequate public revenues over the coming years; and aims to create an equitable and stable business environment.