Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-09-Speech-2-131"
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"en.20100309.18.2-131"2
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"Madam President, there are a lot of good things in this report but I simply cannot support paragraph 35 which calls for the introduction of a common consolidated corporate tax base (CCCTB).
One of the things we are told about CCCTB is that it will be more efficient and that it will simplify matters. But, given that, as it now stands, companies can opt in or opt out, we would end up with 28 tax bases instead of the current 27, and that is hardly simplification.
Also, as it is currently proposed, CCCTB would mean the redistribution of European profits across the EU, so a country like my own, Ireland, which exports a lot of what it produces, would be penalised because the profits, of course, would be at the point of sale. It does seem a little bit strange since at the core of the EU, we have the free movement of goods, so therefore we would end up, if we use CCCTB, by penalising exporting countries.
Finally, I also believe that its introduction would damage Europe’s capacity to attract foreign direct investment, because the rules as such would not apply to the Member State in which it was located but would be by some reference to a complicated formula which can only be calculated in retrospect, so I believe that would certainly damage our capacity to attract foreign direct investment."@en1
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