The International Monetary Fund (IMF) has published a departmental paper on Taxing Multinationals in Europe. The paper aims to contribute to the European policy debate on corporate income tax reform, including a review of the performance of the corporate income tax (CIT) in Europe, and analysis of corporate tax spillovers in Europe with a focus on profit shifting and CIT competition, and an examination of progress made in European CIT coordination and reforms to effectively reduce both tax competition and profit shifting. --- Executive Summary There is mounting global awareness that the existing corporate income tax (CIT) system is no...