Why Reinvent the Wheel in the European Union? The Common Consolidated Corporate Tax Base Proposal

This article presents an overview of the main technical aspects of the EC Proposal of 16 March 2011 for a Common Consolidated Corporate Tax Base. Next, the specific views of the EU Member States on the CCCTB are set forth. The article further discusses the intended benefits of the Proposal, possible pitfalls in the implementation, and the future of transfer pricing in the European Union, to conclude with some suggestions by the authors.