BEFIT: One-Stop-Shop or One-More-Stop?
On 12 September, the European Commission released a proposal called “Business in Europe: Framework for Income Taxation” (BEFIT) and two associated proposals on transfer pricing and a Head of Office tax system.
Expert
Cecilia Perez Weigel
European Policy and Outreach Associate
Cecilia Perez Weigel is a European Policy and Outreach Associate at the Tax Foundation, where she focuses on international and European tax issues.
Prior to joining the Tax Foundation, Cecilia interned at the American Chamber of Commerce in France, the Delegation of the European Union to the United States, and the Public Finances Chamber of the Paris Court of Appeal.
Cecilia holds a joint master’s degree in transatlantic affairs from the College of Europe in Bruges and the Fletcher School in Boston, a master’s degree in European regulation from Sciences Po Paris, and a bachelor’s degree in political science and international affairs from Sciences Po Paris.
Cecilia is French and Guatemalan. She is fluent in Spanish, French, and English, and has a good command of Russian and German. She enjoys learning new languages, playing chess, and gastronomy.
Written Works
The Tax Policy Implications of the Spanish Elections at the Regional, National, and European Levels
The Spanish election results are moving the country away from pro-growth tax reforms while launching the government’s tax agenda, and the agenda of the Spanish presidency of the Council of the European Union, into uncertainty.
How Bermuda’s New Corporate Income Tax Could Negatively Impact Some OECD Member States
Bermuda, long celebrated for its pristine beaches and offshore financial services, is embarking on a journey to recalibrate its tax mix. Spurred by the OECD’s Pillar Two initiative, the island will introduce its first-ever corporate income tax in 2025.
Select Country-Level Revenue Estimates for Pillar Two
Pillar Two implementation is underway in many jurisdictions, and many governments are aiming to get their proposals approved before the end of 2023. However, estimating Pillar Two’s impact on government revenue is proving difficult. As a result, only a few countries have publicly presented their findings.
Benefits of Principled Tax Policy: EU VAT Reform Results
The EU’s recent VAT reform is an example of a win for governments, consumers, and companies. Charting a new path toward a more successful tax system.
A Mis-STEP for the European Union: The New Subsidy Race to the Bottom
Enhancing the European Union’s competitiveness is necessary, but the European Commission’s latest attempt is the wrong approach.
Examining the EU Corporate Own Resources Proposal: Implications and Challenges
The European Commission proposed a new source of revenue as part of its second basket of own resources: a “temporary statistical own resource based on company profits.” This is an attempt to bolster the EU’s budget as it repays its debt.
Enhancing the U.S. Tax Treaty Network: Prioritizing Brazil and Chile
The National Foreign Trade Council’s survey shows that the private sector recognizes the economic value of treaties as an instrument to increase tax certainty and decrease distortions.
Reforming EU Own Resources: Competitiveness versus Raising Revenue
When it comes to EU-level tax policy ideas, competitiveness seems to be less of a priority than raising revenue or pursuing social objectives.
How to Unlock Global Growth: The Role of Taxation
Our recent policy conference brought together academics and political leaders to present research on some of the most pressing issues in global tax policy and to discuss solutions that can unlock genuine global growth.
Shrinking Revenue from Sin Taxes: A Small Price to Pay for Healthier Behaviour
Younger and healthier Brits have created a $17.1 billion budget hole by smoking and drinking less. Yet, despite this resounding piece of positive news, some see any decline in tax revenues as a public finance crisis. Excise taxes target a tax base that is intended to shrink. Less consumption is a stated goal of the policy.
Capital Gains Tax Rates in Europe
In many countries, investment income, such as dividends and capital gains, is taxed at a different rate than wage income. Denmark levies the highest top capital gains tax of all countries covered, at a rate of 42 percent. Norway levies the second-highest top capital gains tax at 37.8 percent. Finland and France follow, at 34 percent each.
Sources of U.S. Tax Revenue by Tax Type, 2023
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
The EU’s Windfall Profits Tax: How “Tax Fairness” Continues to Get in the Way of Energy Security
When it comes to providing economic relief to those in need, wartime energy security, and principled tax policy, the EU can do all three. But a windfall profits tax is not the policy to achieve these goals.
Sources of Government Revenue in the OECD, 2023
Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.