April plenary session of the European Parliament in Strasbourg between 17 and 20 April 2012 debated and voted on various topics from human rights report and situation in Myanmar to a new Environment Action Programme. EP also adopted the new PNR agreement on sharing EU air passengers' data with US authorities.
Probably the most expected vote by businesses on the Common Consolidated Corporate Tax Base (covered earlier this month) was put on vote on Thursday. The CCCTB is a common system for calculating the tax base of businesses operating in more than one Member State. The aim of the CCCTB is to provide businesses with a single set of rules and create a „one-stop-shop“ system to enable them to consolidate their profits and losses and pay taxes on the net amount only. The legislative resolution adopted by a vast majority of 538 votes on Thursday contained some 38 amendments to the Commission’s proposal.
Firstly, MEPs recommend the CCCTB to be made compulsory instead of voluntary scheme suggested by the EC so as to avoid the lack of transparency caused by more concurrent schemes used within the Single Market. Secondly, the amendments put a strong focus on the cost effectiveness of the system and they emphasize a vital role of Member States in the whole process of harmonisation of the tax base scheme. The resolution adopted within the special legislative procedure will now proceed to the Council where it can be adopted either with or without these amendments.
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