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Seminar Atoz Chair: "Common Consolidated Corporate Tax Base"

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Speaker: Uwe Ilhi, Guy Kersch, Alexander Rust
Event date: Friday, 20 May 2011 03:00 pm - 05:30 pm
Place: Faculty of Law, Economics and Finance

Summary of the presentation:

The European Commission proposed a draft directive on the Common Consolidated Corporate Tax Base on March 16th 2011.

The aim of this proposal is to significantly reduce the administrative burden, compliance costs and legal uncertainties that businesses in the EU currently face in having to comply with up to 27 different national systems for determining their taxable profits. The proposed Common Consolidated Corporate Tax Base would mean that companies would benefit from a "one-stop-shop" system for filing their tax returns and would be able to consolidate all the profits and losses they incur across the EU. Transfer pricing issues and double taxation problems would no longer arise. Member States would maintain their full sovereign right to set their own corporate tax rate. The Commission estimates that, every year, the CCCTB will save businesses across the EU €700 million in reduced compliance costs, and €1.3 billion through consolidation. In addition, businesses looking to expand cross-border will benefit from up to €1 billion in savings. The CCCTB will also make the EU a much more attractive market for foreign investors.

Alexander Rust will explain the main content of the proposal, Guy Kersch will give an overview of the opportunities of the proposal for Luxembourg businesses and Uwe Ihli will focus on the budgetary implications for the Member States.

Each presentation will last for about 30 minutes followed by a discussion and questions from the audience.

Uwe Ihli joined the European Commission in 1991 and has been working at the DG Taxation and Customs Union since 2000. He is currently Head of Section of the “Corporate Tax Directives and Common Consolidated Corporate Tax Base”. Before joining the Commission Uwe Ihli worked for an audit company in Frankfurt and for the German civil service in Koblenz. He qualified as “Steuerberater” (Tax advisor) and as “Wirtschaftsprüfer” (Certified public accountant).

Guy Kersch is a “licencié en droit” (UCL Louvain-La-Neuve) and a “licencié en sciences économiques appliqués” (UCL Louvian) active in taxation for over 25 years in Europe, Africa and the Middle East. He is a current business member and former Vice-Chair of the European Joint Transfer Pricing Forum (EU JTPF). Guy Kersch is a member of the Fiscal Affairs Group (FAG) of BusinessEurope (The Confederation of European Business), a member of the Ecofin group of FEDIL (the Luxembourg Industry Federation) which he represents at the BusinessEurope FAG and the Tax Committee of BIAC (Business and Industry Advisory Committee to the OECD).

Dr. Alexander Rust, LL.M. is Associate Professor of Law at the University of Luxembourg. He holds the ATOZ Chair for European and International Tax Law. Alexander Rust studied in Freiburg, Geneva, Munich and New York and worked as an assistant at the University of Munich, as a senior research fellow at the Max Planck Institute Munich and as Acting Assistant Professor in the International Tax Program at New York University. He is a frequent guest lecturer in and outside Europe.

Data: Seminar ATOZ Chair 20_05_2011.pdf 208.43 kB