Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-01-14-Speech-1-103"
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"Mr President, some weeks ago, as you remember, we discussed the contribution of taxation and customs policies to the Lisbon Strategy of growth, jobs and competitiveness. Cross-border loss relief is one key element for establishing a competitive internal market without obstacles and thus contributing to growth and employment. Let me explain the importance of granting cross-border loss relief for the internal market. Imagine a small or medium-sized enterprise which is operating successfully in its domestic market. Once it plans to expand its operation to other Member States, to the internal market, it will not only run into problems regarding additional compliance costs. Thus, in many cases, this SME will not be able to set off any start-up losses against profits which it may continue to generate in its Member State of residence. The non-consideration of foreign losses results in double taxation and discourages many SMEs from investing in other Member States. With the new initiative on cross-border loss relief, large enterprises – but also SMEs in particular – could more easily extend their activities abroad and enjoy the full benefits of the internal market. The initiative on cross-border loss relief constitutes a targeted solution in the short to medium term and represents an intermediary step. But please note that this initiative could in the future be complementary to the common consolidated corporate tax base (CCTB), notably for companies that are not covered by the CCTB. The initiative on cross-border loss relief is more limited in scope than the consolidation of the tax base under the CCTB would be, as this provides automatic and comprehensive off-setting of all profits and losses within a group of companies. I highly appreciate the strong support expressed in Ms Kauppi’s report for the Commission’s initiative in the field of cross-border loss relief, for the coordination approach and of course also for our work on the CCTB. Like you, I am persuaded that we should continue our efforts to dismantle tax barriers in the internal market."@en1
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