The European Commission has launched a public consultation on the Business in Europe: Framework for Income Taxation (BEFIT) initiative. This initiative aims to introduce a common set of rules for EU companies to calculate their taxable base while ensuring a more effective allocation of profits between EU countries, based on a formula. It will also aim to reduce compliance costs and create a coherent approach to corporate taxation in the EU. The consultation feedback period runs from 13 October 2022 to 5 January 2023. --- Objectives and policy options BEFIT's key objectives are: to increase businesses' resilience by reducing the...