| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/04/1091 (9.9.04) |
| Publication Date | 09/09/2004 |
| Content Type | News |
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A survey of the compliance costs of EU companies confirms the need for the Commission's suggestion that companies should be allowed to use a single basis of assessment for corporate tax for all their EU-wide activities so as to avoid the costly inefficiencies of dealing with EU Member States' twenty-five different company tax systems. The survey, published on 9 September 2004 also underlines the need for the proposal that the Commission intends to present in the next few months for a one-stop shop system whereby a trader could fulfil his Value Added Tax (VAT) obligations for his EU-wide activities solely in the Member State in which he is established. The Commission's European Tax Survey, in which seven hundred EU companies participated, shows that cross-border activity currently leads to higher company tax and VAT compliance costs for companies. Compliance costs are significantly higher for companies with at least one subsidiary in another EU Member State compared to companies without subsidiaries abroad and the costs increase according to the number of such subsidiaries. Compliance costs are also proportionately greater for SMEs than for large companies. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/04/1091&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Taxation |
| Countries / Regions | Europe |
