The EU's finance ministers have reached an agreement to introduce flexibility in proposals for new taxation laws in order to boost competitiveness and mitigate tax evasion by multinational companies. In the ministers' conclusions with regards to Base Erosion and Profit Shifting (BEPS) proposals, Malta was the sole member state to adopt a 'common yet flexible' approach to taxation.
In a meeting, Maltese finance minister Edward Scicluna pointed out to the other EU finance ministers that Malta is concerned and skeptical about the effectiveness of issuing rigid rules for all, despite regarding the OECD positively.
On the effective level of taxation, Malta along with Ireland and Cyprus obtained a consensus for the inclusion of an amendment that retains national competences.
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