The French minister of finance, François Baroin, and his German counterpart, Wolfgang Schäuble, have unveiled a “green paper” describing plans for Franco-German tax convergence. According to the document, France and Germany will aim to harmonise their corporate tax rates by 2013.
Remember before the election that Fine Gael was not going to put a cent into Anglo-Irish Bank?
Well, would you give our corporation tax rate much chance?
This week the finance ministers of all twenty seven EU member-states will meet to discuss economic governance legislation put forward by the Commission, which would give it greater powers in assessing and correcting financial instability. There will also be a Franco-German presentation on plans for a common consolidated corporate-tax base. It will be interesting to hear Noonan’s take on the event!
Meanwhile the EU commissioner for taxation and customs union, Algirdas Šemeta, has assured the British House of Lords that the implementation of a financial transaction tax would “minimise the risk of relocation,” saying that it is expected to raise €60 billion throughout the region every year.
Remember “own resources” in the Lisbon Treaty?