BEFIT Tax Package: Business community urges caution and global alignment

25 January 2024 - BusinessEurope has published a new position paper on the European Commission’s BEFIT proposal, and BusinessEurope Director General Markus J. Beyrer said: “European businesses support the Commission’s overall objectives of strengthening the Single Market by simplifying the tax landscape and reducing tax compliance costs for businesses.

However, for the BEFIT reform to be effective, it must align fully with global tax rules. Given the complexities of the changing global tax environment, EU legislators should wait for more stability in global corporate taxation before advancing detailed proposals.

The Commission should also conduct an impact assessment of how these specific proposals will impact businesses. The current impact assessment falls short of this, as it only considers potential benefits from a theoretical simplification of corporate tax rules.”

To read our new position paper in full, click here.