Germany has voiced its support for phasing out national vetoes on issues of taxation policy.
The new rules which are set to come into effect in 2025 will mean that qualified majority voting will now be used to pass draft EU proposals on issues of taxation.
Under the qualified majority rules EU initiatives will need to have the support of 55 percent of EU countries representing around 65 percent of the EU population, in order to pass.
Germany had opposed qualified majority voting on taxation policies as it was weary of surrendering its sovereignty on such an important issue. Now however, it seem committed to this deeper EU integration.
This is bad news for Ireland however, as its low corporate tax has often been sighted as the primary reason the EU needs this system of qualified majority voting on tax issues.
Ireland has long since opposed such a measure with the UK being a staunch ally in such regard. It is likely our corporate tax will be the first target of this new system.
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