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Streamlining corporate taxation in the EU
The Business in Europe: Framework for Income Taxation Proposal (BEFIT) Directive Proposal represents an ambitious step towards harmonising corporate tax systems in the EU. However, we are concerned the current proposal would not reduce compliance burdens for affected companies. Lawmakers should wait for the full implementation of Pillar 2 before progressing with the draft. Instead, the European Commission can play a role in reviewing existing anti-avoidance and reporting rules for opportunities to streamline tax burdens, using member state seminars to ensure EU tax rules are implemented consistently, and providing further clarity on how Pillars 1 and 2 will apply in the EU. Read more about how European lawmakers can streamline administrative burdens and declutter corporate income tax.