Germany, France plan common corporation tax system: German FinMin

Germany and France hope to agree proposals for a common corporation tax system before the French National Assembly elections in June, German Finance Minister Wolfgang Schaeuble announced at a Berlin tax conference on Tuesday.

“We’re having another go at agreeing not just common principles on corporate taxation, but a common system,” he said, adding that he hoped proposals would be in place before France votes for a new parliament in early June. “Time is short.”

Germany had to remain vigilant in the face of growing international tax competition, he added. While Germany’s corporation tax was currently quite competitive, “much is happening” elsewhere that could change this.

Source: Reuters