Unacceptable that the Commission cannot give clarity on impact of CCCTB – Hayes
Brian Hayes MEP today said that it is unacceptable that the Commission cannot give a full country-by-country impact assessment of the CCCTB proposal. Commissioner Moscovici sent a letter in response to Brian Hayes request that the Commission conducts a country-by-country assessment of the impact of CCCTB.
“We have on one hand the Commission telling us that the CCCTB will deliver huge savings to the EU and all Member States. On the other hand, the Commission now says that they are not in a position to do a proper evaluation of the overall impact of CCCTB on each Member State.
“We must remember that this is the Commission’s proposal, they have ownership of it. If they want to convince Member States to back it, they need to have the necessary evidence available.
“How can any Member State logically sign up to a proposal like this when they don’t know the exact impact it will have on their tax revenues? The Commission needs a dose of reality if they want this file to make real progress.
“I believe that the government should continue to engage on this file but ultimately we cannot sign up to anything when we don’t know the full impact on our tax revenue.
“There are still divergent views between IBEC and the Commission on the ultimate impact of CCCTB. At a Joint Oireachtas Committee on Finance in January, Commissioner Moscovici said that CCCTB would constitute an estimated loss of around 0.2% on Irish tax revenue. However, earlier this year IBEC said that there would be a loss of around 7.7% of Irish tax revenues if CCCTB was implemented.
“For this reason, we need a public study on the full impact of CCCTB. It is extremely confusing for Irish people to get two drastically different estimates about the impact of this major proposal on our tax revenues. While the Commission is of course on a charm offensive to sell CCCTB, we have to ensure that there is no misleading data.”