Categoria: 2021

BRUSSELS | 27 SEPTEMBER 2021 Member States Challenge Legal Basis for Public CbCR In statements issued at the EU Council’s first reading of the draft public CbCR directive, several Member states have rejected the legal basis of the legislative proposal, namely Croatia, Cyprus, the Czech Republic, Hungary, Ireland, Luxembourg, Malta and Sweden. The countries all set out in the [...]

BRUSSELS | 20 SEPTEMBER 2021 State of the Union: EU Prioritises Global Tax Deal & Fair Taxation In the 2021 State of the Union Address, EU Commission President von der Leyen highlighted the most important current key tax priorities for the European Union. In particular, Von der Leyen noted that fair taxation was key in [...]

BRUSSELS | 6 SEPTEMBER 2021 OECD’s International Tax Agreement to Eliminate Double Taxation In a recent interview, Pascal Saint-Amans, Director of the Center for Tax Policy and Administration said that the technical agreement being finalised by the Members of the Inclusive Framework in the Two-Pillar agreement on taxation of the digital economy and minimal global corporate [...]

BRUSSELS | 30 AUGUST 2021 Macron Discusses Ireland’s Support for OECD’s International Tax Agreement French President Emmanuel Macron visited Ireland last week to discuss taxation and Brexit, hoping to persuade his Irish counterparts to support the OECD proposals to reform the international tax rules. Macron has publicly denied any pressure on Ireland, but the Irish government acknowledged that Irish [...]

BRUSSELS | 9 AUGUST 2021 OECD’s Forum on Harmful Tax Practices Publishes Peer Reviews   The OECD/G20 Inclusive Framework on BEPS has approved peer review results of the Forum on Harmful Tax Practices, in which it reviewed preferential tax regimes and made conclusions concerning 25 different regimes. The results confirm that a harmful offshore banking regime in Australia had been [...]

BRUSSELS | 2 AUGUST 2021 EU Study: Minimum Tax Substance Carve-Out Will Increase Tax Competition & Decrease Taxable Revenue The EU Tax Observatory, recently established research body funded by the European Commission, published a note suggesting that a substance carve-out will increase tax competition and would allow companies to escape taxation if they have sufficient operations (assets and employees) [...]

BRUSSELS | 26 JULY 2021 EU Commission Publishes Anti-Money Laundering Legislative Package   The European Commission has now published its Anti-Money Laundering legislative package, which will upgrade the existing EU anti-money laundering legislative (AML) framework. The package consists of four proposals, namely: A Regulation establishing a new EU AML/CFT Authority; A Regulation on AML/CFT, containing directly-applicable rules, including [...]

BRUSSELS | 19 JULY 2021 EU: Landmark Climate Policy Package On 14 July, the European Commission proposed an ambitious climate policy package, encompassing multiple policy instruments to deliver on the European Green Deal Commitment to make Europe a carbon neutral continent by 2050, and to cut carbon emissions 55% by 2030. The package includes a number of instruments, [...]

BRUSSELS | 12 JULY 2021 G20 Reach Global Tax Deal in Venice   G20 Finance Minsters reached a historic agreement to establish a minimum global corporate tax rate of at least 15%, building on momentum from the recent G7 deal and the global agreement on international tax reform reached based on a two-pillar solution which allows multinational companies to pay more [...]

BRUSSELS | 5 JULY 2021 130 Countries Sign Historic Agreement on International Tax Reform 130 countries signed last week the global agreement on international tax reform, based on a two-pillar solution which allows multinational companies to pay more tax in the countries where they operate as well as a global minimum tax rate. As estimated by [...]