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By WimPIOT, Tax Leader and Tax Partner, PwC Luxembourg, Julien LAMOTTE, Tax Manager, EU Direct Tax Group Luxembourg Leader, PwC Luxembourg and Ilaria PALIERI, Senior Tax Advisor, EU Direct Tax Group Luxembourg, PwC Luxembourg
On 16 March 2011 the European Union (EU) Commission finally issued the Draft Directive(1) for a Common Consolidated Corporate Tax Base (CCCTB) after a long process that took around 10 years. According to the Draft Directive, companies that opt for the CCCTB will be able to compute their tax base according to a common set of rules which will be applicable in all of the EU Member States (hereinafter MS).(2) Moreover, the CCCTB provides for a cross-border consolidation between companies that...
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