common consolidated corporate tax base CCCTB
The European Commission published a draft Directive proposing a single set of rules that would allow companies operating within the European Union (EU) to calculate their taxable profits on a uniform basis and for the aggregate profits to be apportioned between Member States on an agreed basis. An alternative compromise might see just a harmonisation of the amounts chargeable to tax according to the new ‘common EU tax base’ (also known as the Common Corporate Tax base or CCTB). Broadly, the Directive would aim to improve simplicity and efficiency of the corporate income tax systems in the EU and therefore contribute to an effective functioning of the single internal market. It is currentlynot known when any changes might come into force.