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On Tuesday, 25 October, the European Commission presented its renewed proposal for a Common Consolidated Corporate Tax Base (CCCTB). After the first proposal in 2011 on the EU-wide harmonisation of calculation and consolidation failed in the Council, the Commission made a new attempt concerning a fair taxation of European companies. The proposal aims at those major corporations that engage in cross-border activities. In a press statement, Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs, declares that this is a positive step for European companies and EU citizens. Companies will see a harmonisation of cross-border tax regulations. EU citizens will benefit from the closure of loopholes, which is a contribution to combatting tax evasion.
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