The European Commission will propose a "relatively modest solution" to the "problem" of the cross-border treatment of losses when it publishes a communication on the topic in the near future, according to Laszlo Kovacs, commissioner for taxation and customs union. In a speech at a dinner put on by CFE, the confederation of European tax advisers, during its general assembly in London, Kovacs also said the Commission would have to make some choices when it comes to putting forward its proposal on a common consolidated corporate tax base. "By its very nature, a common tax base cannot exactly match the current tax bases of the 25 Member States." he said.
October 01 2006