“Simplification is the EU Commission’s latest euphemism for deregulation” - Oxfam

Today, the European Commission presented its Tax Omnibus proposal to simplify tax rules and reduce bureaucracy across the EU.

In response, Oxfam Tax Policy Expert, Julien Desiderio said:

“Simplification is the European Commission’s latest euphemism for deregulation. At a time of record corporate profits and exploding inequality, after decades of a race to the bottom on effective corporate tax rates, the obvious response would be to ensure those who have gained the most contribute more. Instead, this proposal delivers another round of tax giveaways for large corporations while public budgets are at breaking point. 

“Rather than closing the loopholes that allow big corporations and the super-rich to avoid paying their fair share, the Commission’s proposal weakens key safeguards against tax avoidance and opens the door to broader exemptions for capital income. That means less revenue for hospitals, schools and climate action, and a bigger bill for everyone else.”