Mr. Mike Lewis:

As an organisation, we do not take a position on the CCCTB to the extent that it is an EU measure and we do not see what its impact might be in the countries where we work. However, whether it is within a system like the CCCTB or a more conventional tax system, there is a reason these proposals are being tied to the CCCTB, which is a general dissatisfaction with the idea of the nexus as it currently exists within the international tax system and the way profits are being allocated.

Whether or not one inserts it within some sort of unitary tax system like the CCCTB or a tax treaty, it indicates that there needs to be more fundamental thinking about nexus and allocation. We cannot get away from that fundamental pressure within the system just by rejecting these proposals and, by implication, rejecting a back door into the CCCTB.