Provided by the International Monetary Fund European and Fiscal Affairs Departments, this report examines the corporate income tax system in Europe, looking at its performance over the past several decades and the role played by multinational enterprises in European economies, corporate tax spillovers in Europe and the impact of profit shifting and corporate income tax competition, and the progress made in European corporate income tax coordination and reforms to strengthen the harmonization of corporate tax policies to reduce tax competition and profit shifting. It considers options for a minimum tax in Europe that ensures a minimum level of taxing profits and a formula apportionment approach that consolidates the profits of affiliates of a multinational group at the European or global level and allocates the resulting tax base across jurisdictions. Annotation ©2021 Ringgold, Inc., Portland, OR (protoview.com)
