Protecting the UK’s tax sovereignty in the EU, by ensuring that all tax decisions by the Member States are agreed by unanimity, is a red line for the UK. This ensures that EU tax policy takes into account Member States’ individual economic circumstances, and that the UK can veto proposals that would, for example, damage economic growth.
That said, we are keen to support those proposals that take forward the UK’s G8 legacy, to tackle cross-border tax avoidance and evasion. These include aligning EU law with the new global rules agreed at the G20-OECD. For example, the OECD’s Global Standard will be implemented within the EU through the amended Directive for Administrative Cooperation.