ICC fully supports proposed changes by the European Commission regarding electronic VAT invoicing, especially the planned abolition of technology-specific requirements for the transmission of electronic invoices.
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ICC, in a policy statement prepared by its Commission on Taxation, has outlined the conditions under which a European Common Consolidated Corporate Tax Base could create a more efficient tax system for companies operating in Europe, in anticipation of the European Commission’s intention to present a legislative proposal on this subject during 2008.
The International Chamber of Commerce today condemned proposals for a tax on airline tickets to raise funds for development aid and said there are better ways for business and government to help lift people out of poverty.
Intra group financing is an important part of the efficient use of the financial resources of an enterprise. Several governments have, however, recently shown a more aggressive attitude with regard to the taxation of interest payments within business groups with a focus on cross-border payments.
As the European Union this week started imposing value-added tax on electronic products and services supplied by non-EU firms, many small companies outside Europe fear that the levy will compromise their ability to serve EU consumers.
Executives required to work abroad may face double or even triple taxation on stock options that are part of their remuneration package - and business is pressing governments to end these anomalies among tax regimes.
World business tax experts have called on governments to accept compulsory international arbitration to resolve cross-border tax disputes, particularly those arising from conflicting interpretation of double taxation conventions.
The International Chamber of Commerce today criticized governments for imposing hundreds of new taxes on airlines and users and said these charges had a distorting effect on world commerce and travel.