Categoria: CFE’s Global Tax Top 5

BRUSSELS | 27 JANUARY 2025 Trump Issues Executive Order Withdrawing US from OECD Global Tax Deal In a suite of executive orders issued immediately following his inauguration last week on 20 January, President Trump issued a memorandum outlining his administration’s stance on the OECD’s Global Tax Deal. The Order states that the global minimum tax agreement, supported by the [...]

BRUSSELS | 20 JANUARY 2025 OECD Makes New Tools Available for Administering Global Minimum Tax  On 15 January 2025, the OECD’s Inclusive Framework on Base Erosion and Profit Shifting (BEPS) introduced new tools and guidance updates to support the administration of the Pillar 2 global minimum tax. These include a centralised record of qualified domestic rules, revisions to [...]

BRUSSELS | 13 JANUARY 2025 Negotiations on Terms of UN Framework Convention for International Tax Cooperation to Start in February 2025  The formal negotiations to draft the terms of the Framework Convention on International Tax Cooperation are set to begin with an organisational session at the United Nations Headquarters in New York from 3 to 6 February [...]

BRUSSELS | 12 DECEMBER 2022 ECJ: Certain Elements of DAC6 Incompatible with Primary EU Law The Court of Justice of the European Union found certain elements of the Directive on Administrative Cooperation to be incompatible with primary EU law, i.e. the Charter of Fundamental Rights. EU courts are empowered to invalidate secondary EU law (such as directives) [...]

BRUSSELS | 5 DECEMBER 2022 EU Seeks to Define Aggressive Tax Planning Benjamin Angel, Director in the European Commission in DG TAXUD, said on Friday that the European Commission will try to establish a legal definition of aggressive tax planning, thus providing clarity to tax professionals on the so-called ‘grey zone’ in tax planning. Whereas [...]

BRUSSELS | 28 NOVEMBER 2022 ECJ Rules Public Access to Beneficial Ownership Registry Information Invalid – Joined Cases C-37/20 & C-601/20 The European Court of Justice last week ruled in joined cases C-37/20 & C-601/20 WM and Sovim SA v Luxembourg Business Registers that a provision in Luxembourg’s national legislation implementing the EU Anti-Money Laundering Directive (Directive (EU) 2018/843) rules requiring that [...]

BRUSSELS | 21 NOVEMBER 2022 EU Adopts Revised Code of Conduct on Business Taxation EU Finance ministers approved last week the revised Code of Conduct on Business Taxation, setting out stricter criteria for evaluation of harmful tax regimes. The revised code of conduct introduces scrutiny on ‘tax features of general application’, thus expanding the existing focus on ‘preferential measures’. Per [...]

BRUSSELS | 14 NOVEMBER 2022 28 Jurisdictions Sign Agreement on Reporting Income from Digital Platforms The plenary meeting of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes was held from 9 – 11 November in Seville, Spain. At the periphery of the plenary meeting, a multilateral competent authority agreement (MCAA) for the [...]

BRUSSELS | 7 NOVEMBER 2022 EU Parliament’s Draft Report on Tax-Related Revelations The European Parliament heard last week the findings of MEP Niels Fuglsang (S&D, DK) who presented in the draft report of October 2022. The draft paper discusses the “Lessons learnt from the Pandora Papers and other revelations”. Key-findings include a recommendations for EU Member states to introduce cooling-off [...]