The controversial system, which is described in EU documents as the “harmonisation of European taxation”, was put forward by the EU Economic and Monetary Affairs Committee last week.
The group’s explanatory statement reads: “Building economic and monetary union must be achieved through a harmonisation of European taxation. Fair and effective corporate taxation must become the cornerstone of the single market.
“If we are to have a reliable single market, the Member States must come to an agreement on tax matters. A coordinated and harmonised approach to the implementation of tax systems is vital in order to guarantee the proper functioning of the single market and the success of the capital markets union.”
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