Council Presidency compromise text on the Common Corporate Tax base (CCTB) proposal, Chapters I to V, dated 5 December.
Note that Article 28(d) now reads:
“the technical provisions of insurance undertakings established in accordance with Council Directive 91/674/EEC shall be deductible. Amounts deducted shall be reviewed and adjusted at the end of every tax year. Amounts already deducted shall be taken into account when calculating the tax base in future years”.
This new text no longer makes a specific reference to equalisation provisions, which would therefore be fully deductible under the CCTB.