madam president there are a lot of good things in this report but i simply cannot support paragraph thirty-five which calls for the introduction of a common consolidated corporate tax base ccctb
one of the things we are told about ccctb is that it will be more efficient and that it will simplify matters
but given that as it now stands companies can opt in or opt out we would end up with twenty-eight tax bases instead of the current twenty-seven and that is hardly simplification
also as it is currently proposed ccctb would mean the redistribution of european profits across the eu so a country like my own ireland which exports a lot of what it produces would be penalised because the profits of course would be at the point of sale
it does seem a little bit strange since at the core of the eu we have the free movement of goods so therefore we would end up if we use ccctb by penalising exporting countries
finally i also believe that its introduction would damage europe's capacity to attract foreign direct investment because the rules as such would not apply to the member state in which it was located but would be by some reference to a complicated formula which can only be calculated in retrospect so i believe that would certainly damage our capacity to attract foreign direct investment
