Private Equity Calls for EU Tax Overhaul to Spur Investment

European venture capitalists and private equity firms called for renewed efforts by the EU to overhaul the bloc’s corporate tax regime to encourage investment as part of a larger push for “harmonised minimum standards.” Failure to act would result in “a real structural decline” in Europe’s competitiveness, Invest Europe, a trade association representing private capital, warned in a position paper published Thursday. The EU wants to boost its competitiveness with regard to the US and China and has prioritized creating greater access to capital for startups and simplifying the bloc’s tax code to make it easier to do business. The…