EU wants a minimum tax rate!

The Telegraph reports:

It also emerged that they are also pushing plans to introduce a minimum corporation tax rate across the continent in a move that could result in higher taxes on British companies. …

On Wednesday, EU officials will discuss how to tackle tax avoidance and create a system of “fair, transparent and growth friendly” corporation taxation at an orientation debate in the College of Commissioners, a forum used to float ideas, ahead of an announcement in June.

The discussion will include plans to create a basic rate of corporation tax across Europe, reported Handelsblatt, the German business newspaper. The

“Germany and France and demanding a minimum threshold value; we are reacting to that,” one commission source told the newspaper.

A commission spokesman denied the reports. At 20 per cent, Britain has the lowest corporation tax rate in the G7, and among the lowest in western Europe.

How about a maximum tax rate instead of say 25%!

If the EU tries to bring in a minimum corporate tax rate, it would be very good for non EU members!