EU Tax Committee Hears From Switzerland
A delegation from the European Parliament’s Special Tax Rulings Committee visited Switzerland on May 22.
The delegation was received by Switzerland’s State Secretary for International Financial Matters, Jacques de Watteville. According to the Swiss Federal Council, talks focused on international corporate tax reform efforts and Switzerland’s work in this area.
De Watteville pointed out that Switzerland is actively contributing to the Organisation for Economic Cooperation and Development’s (OECD’s) base erosion and profit shifting (BEPS) project. He emphasized the need to create a level playing field and fair competitive conditions for all jurisdictions through the development and implementation of new international standards on corporate taxation.
De Wattevillle added that standard setters should take account of the problems caused by state aid granted by European Union (EU) member states to companies, which can distort competition.
The Committee was set up by Members of the European Parliament in February, in the wake of investigations by the Commission into tax rulings granted to multinational corporations by certain EU countries. It is reviewing the way the Commission treats state aid in member states, how transparent member states are about their tax rulings, and the impact of aggressive tax planning on public finances.
