EU Presidential debate hears call for minimum 18% corporation tax rate
A debate among the lead candidates for the presidency of the European Commission has heard a call for a minimum 18% corporation tax rate across the EU.
The call from the European Regulation Commissioner Frans Timmermans for the 18% minimum level would have serious implications for Ireland, where the corporation tax rate is currently is 12.5%.
The proposal was made in a live television debate from Brussels tonight which was screened for millions of people across Europe.
As the six candidates for the role of President of the European Commission made their pitch for one of top jobs in European politics, the European Competition Commissioner Margrethe Vestager also increased the pressure on Ireland by saying "We need to put a floor under corporate taxation as such, because otherwise, it will just be a race to the bottom."
The Presidency of the Commission goes to the candidate of the political party capable of marshalling sufficient parliamentary support.
Ms Vestager, who is the lead candidate for the Alliance of Liberals and Democrats for Europe (ALDE) said the presenter was “very generous when he said that some only pay 5% because some pay 0.05% in some years as we saw within the Apple case”.
She acknowledged that taxation has been changed in Ireland, the Netherlands, Belgium, Malta and Cyprus “because change is coming”.
She stressed the need for digital taxation as a lot of these companies are escaping while most companies do pay their taxes and this is “unfair”.
Saw this was on France 24/Euronews. Hadn’t seen them do this before. No doubt it’s to appease euro sceptics and convince the public they get their little say in the election of the President. Once Britain is fully chastised for it’s attempt at breaking from the club, and the elections are out of the way, we can maybe expect a more aggressive stance on Corp tax, and action on the digital taxation Macron has been flagging up for some time now.