CEPS Policy Brief published a paper about the “Taxation of Multinational Enterprises in the European Union” a views on the options for an overhaul by director general of Assonime Stefano Micossi and senior economist at Assonime Paola Parascandolo. For they an efficient system should have three features: as much as possible, it should do away with separate income accounting by tax jurisdiction and arm’s length pricing of intra-firm transactions; it should have a single common definition of the corporate tax base; and it should abandon effective income as the target variable in favour of normal income or some other presumptive measure of corporate activity. See: http://www.ceps.be/book/taxation-multinational-enterprises-european-union
