IBFD Task Force on EU Law submits contribution on the BEFIT proposal to the European Commission
The IBFD Task Force on EU Law (Pasquale Pistone, João Félix Pinto Nogueira, Ivan Lazarov, Alessandro Turina and Sergio Messina) has recently presented a legal analysis of the BEFIT proposal to the European Commission, released on September 12, 2023.
The purpose of this analysis is to provide a comprehensive assessment of the proposal's impact, considering its implications for domestic law, tax treaty law, and EU law.
The Task Force sees the BEFIT proposal as a positive step towards harmonizing the rules for the determination of the corporate income tax bases in Europe. This harmonization is expected to reduce administrative and compliance costs, creating a more favourable tax environment for business development and economic growth within the internal market.
However, certain aspects of the proposed regime require further attention to ensure it meets its goals and avoids legal uncertainties in its initial years. The study not only highlights these concerns but also offers potential solutions.
This analysis is a dynamic work-in-progress, intended to spark discussions on the topic. The authors eagerly invite comments from academia, businesses, and civil society to contribute to a future version, with due acknowledgment.