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EU Iegislation:
Tax competition. The Commission has adopted a proposal for a package of measures designed to curb harmful tax competition. The package includes a code of conduct on business taxation, elements for an EU solution to the taxation of income from savings and an agreement to eliminate withholding taxes on interest and royalty payments between companies. In addition, the Commission welcomes the Member States' intention to make further progress in the area of indirect taxation, in accordance with the Action Plan for the Single Market, in the framework of Council negotiations.
Source: Press Release (European Commission), IP/97/961 (5.11.97); See also Press Release
(European Commission), IP/97/1005 (18.11.97) and COM (97)564 final (5.11.97); Official Journal C2, 6.1.98, p1
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