A fourth Tax Committee has been set up by the European Parliament to carry on the work started by previous tax Committees, TAXE I and II and the Pana Committee.
We published a news item following the final report at the end of 2015 of the first TAXE Committee. See EU Parliament TAXE Committee on tax rulings – final report.
We did not report at length on the work of the TAXE II Committee.
A delegation from ICAEW gave evidence to the Pana Committee when it came to London in February 2017. Robert Hodgkinson, Director of Technical Strategy and Frank Haskew and Ian Young from the Tax Faculty participated and you can see the report of that London visit by clicking here.
The Pana Committee published its final report at the end of 2017 and amongst its recommendations was for the European Commission:
“ to come forward with a legislative proposal on the separation of accounting firms and financial or tax service providers as well as on all advisory services, including a Union incompatibility regime for tax advisers, in order to prevent them from advising both public revenue authorities and taxpayers and to prevent other conflicts of interest.”
The mandate for the latest, TAXE III, Committee has been approved by the European Parliament’s Conference of Presidents and it will complete its work and report by February 2019. It will consist of 45 MEPs
The mandate is wide and covers corporate and personal taxes, VAT, taxation of the digital economy, money laundering and tax havens.