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n Consolidated Base Taxation of Companies (CCCTB), companies will have the opportunity to submit a single tax return for all their activities in the EU at one tax office.

Currently, companies in the EU are up to 27 different national tax systems and are faced with an extremely complex system for determining how the taxation of intra-group transactions (transfer pricing). Also, companies can not offset their losses in one Member State against profits in another. As a result, larger businesses are facing huge costs and complex procedures, the smaller enterprises are discouraged to expand within the expanded EU

The Member States will retain their full right to determine their corporate tax rate at the level they deem appropriate.

According to Commission estimates, the CCCTB will allow EU companies to save, annually, 700 million by reducing compliance costs in different jurisdictions and 1.3 billion by consolidating gains and losses incurred. Furthermore, companies wishing to expand cross-border operations will save up to 1 billion. The EU Commissioner for Taxation, Algkirda Shemesh said:

“The CCCTB would make easier, cheaper and more convenient the business activity in the EU. It will also give opportunities to small businesses to grow beyond their home market. The current proposal is good for business, but also for the global competitiveness of the EU”

The Commission's proposal to tax business is in a period of intense controversy that has erupted between Ireland and the Franco-German axis. In Ireland the corporate tax is 12.5% ??versus 25.7%, which is the average in the Eurozone. At the meeting of leaders of the countries which are member of Eurogroup , -March 11-, France and Germany called Ireland to accept an increase in corporate tax in return for reducing the lending rate in the country, as agreed with Greece.

The newly elected Prime Minister of Ireland, Enda Kenny flatly refused to accept that, stressing that this issue is 'critical' for the country and its economic development. The CCCTB refers to the 'Pact for the Euro”, which is expected to be ratified by the Summit of 24 and 25 March. At the meeting, Ireland is expected to be pressured to increase the corporate taxes.
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