EU ministers have accepted Malta's proposal to adopt some flexibility in the light of the OECD's BEPS proposals
Malta has proposed the inclusion of a "common yet flexible approach" in the EU Finance Ministers' conclusion on the OECD's Base Erosion and Profit Shifting - BEPS, proposals. The EU Finance Ministers have agreed to include such provisions on flexibility for purposes of competitiveness in proposals for new tax laws based on the OECD recommendations designed to significantly reduce opportunities for evasion by multinationals.
Whilst Malta has always supported the initiatives of the OECD, Finance Minister Edward Scicluna told the EU Finance Ministers that it has reservations about the appropriateness of a one size fits all approach with rigid rules applying in the same manner to all Member States.
Regarding proposals on the effective level of taxation within the EU, Malta together with Ireland and Cyprus obtained a consensus for the inclusion of an amendment whereby national competences on the matter will be retained.
