Council of the European Union notes that effective corporate taxation can be undermined by base erosion and profit shifting and stresses that unfair tax competition between Member States as well as between the latter and third countries could affect the functioning of the Single Market, whilst acknowledging the importance of taxation for competitiveness. The Council recalls and confirms the European Council conclusions of 18 December 2014 stating the urgent need to advance efforts in the fight against tax avoidance and aggressive tax planning, both at the global and EU levels.
Learn more: Council conclusions on corporate taxation