Malta highlights the need for flexibility on the BEPS
Malta has put forward a proposal for the inclusion of a "common yet flexible approach" in the EU Finance Ministers' conclusion on the OECD's Base Erosion...
Malta highlights the need for flexibility on the BEPS proposals
Malta has put forward a proposal for the inclusion of a "common yet flexible approach" in the EU Finance Ministers' conclusion on the OECD's Base Erosion and Profit Shifting (BEPS), proposals. The Ministers agreed on the inclusion of provisions on flexibility for purposes of competitiveness in proposals for new tax laws based on the OECD recommendations aimed at considerably diminishing opportunities for tax evasion by multinationals. Further to reiterating support to the initiatives of the OECD, Finance Minister Edward Scicluna indicated that Malta has reservations on the appropriateness of a one size fits all policy.
With regards to proposals on the effective level of taxation within the European Union, Malta together with Cyprus and Ireland managed to obtain an agreement for the inclusion of an amendment whereby national competency on the matter will be retained.