Translation of "Système de majoration et de crédit fiscal " (French → English) :

dividend gross-up and credit system [ gross-up and credit system ]

Indeed, it has always struck us as perplexing that the tax system allows a 75% tax credit on a political contribution of $100 while the same amount donated to the United Way or the local AIDS hospice or the local chapter of the cancer society merely warrants 17% tax credit treatment. And now the government wishes to raise this limit for 75% treatment to $200, in clause 560 of the bill.

It has been fully indexed, while family allowance has not been and the child tax credit has not been and the tax system in general has not been.

As a possible solution to the abovementioned problems, the report suggests to create a so-called intelligent and coordinated ‘tax-snake’ system, which instead of harmonising the tax systems of all Member States would only coordinate them in a way that would take account of the existing tax cuts and tax increases within the national systems.

17. Considers that there is a need to create, on the basis of a thorough analysis, an EU-wide tax information system aimed not at harmonising the different national tax structures, but at facilitating their coordination in a continuous and transparent manner, keeping track of the cuts and increases made by Member States; notes that the framework of the European Semester would form a good basis for the operation of such a system since – in tandem with other specific macroeconomic measures – it could keep a proper record of the various tax policies of the different Member States, taking fully into account the general economic forecast as ...[+++]well as the fundamentals and future perspectives of the Member States concerned and common European objectives; encourages the Commission and the Member States, in light of this, to integrate into the European Semester a strategy aimed at reducing the tax gap;