"Extremely serious doubts" on the application of the European directive for a common consolidated tax base for corporate tax. Stefano Micossi, general manager of Assonime, does not hide his perplexities in front of the Finance commission of Palazzo Madama.
Of course, the European directive does not fail to have more than one value, from simplification to the reduction of costs for companies up to the increase in employment. And yet "many application problems are still unresolved". And Assonime indicates "first of all" how we are faced with an "optional discipline which would support and not replace the different national tax realities" and which would therefore allow two different income tax systems to coexist. Secondly, “more than ten years of studies have not yet made it possible to arrive at assessments on the impact of revenue. The favor shown by the business world is not surprising, which reflects the expectation of significant reductions in the tax burden”.
Assonime obviously declares itself "in favor of a reduction" of the tax burden, underlining however that this "cannot be the implicit result of a modification of the legal system, but of explicit choices which obviously belong to national spheres". Again: there would be very strong implications for the powers of assessment that would be vested in the countries of legal residence of the parent company, "and here is the heart of the problem", added the director of the Association for joint-stock companies . Furthermore, the directive requires the unanimous consent of the Member States, but "the negative position expressed by some States makes the effective introduction of this discipline rather problematic", Micossi remarked again.
Attachments: Hearing_Assonime.pdf
