Tax optimisation is widespread among large corporations and high-wealth individuals. Although most practices are legal, aggressive tax planning can have the consequence of reducing tax revenues and unfairly distributing the burden across taxpayers. These practices were relatively unknown, until the past few years, with the disclosure of questionable tax structures in the Lux Leaks, Panama Papers, Offshore Leaks, Swiss Leaks, etc.
In response to these revelations, support for enhanced tax cooperation and coordination among jurisdictions has increased substantially. At global level the G20 and OECD’s base erosion and profit shifting (BEPS) agenda forms the main initiative to enhance the fairness and efficiency of tax collection. In the EU the BEPS recommendations are being implemented through the Anti-Tax Avoidance Package and complemented by specific proposals to reform corporate income tax. These measures, for instance, include initiatives to enhance transparency, make the tax systems more comparable as well as reduce double taxation.
Speakers at this CEPS lunchtime meeting will discuss the recent proposals and outstanding reforms of the G20/OECD and European Commission, and will consider the following questions: Do the proposals address the right issues, and go far enough, or even too far to combat tax avoidance and evasion through third countries? What more should be done to enhance the fairness and efficiency in tax collection in the EU and third countries?
