Tag: CFE’s Tax Top 5

BRUSSELS | 1 MARCH 2021 Agreement on Digital Tax Within Reach After US Policy ‘U-Turn’ This week’s key tax policy news comes from Washington DC. The new US Secretary of Treasury Dr Janet Yellen confirmed that President Biden’s administration is ready to drop the ‘safe harbour’ requirement, a key obstacle to an international agreement on Pillar [...]

BRUSSELS | 22 FEBRUARY 2021 EU Council Updates EU Tax Blacklist The EU’s list of non-cooperative jurisdictions for taxation purposes was updated by the Council of the EU on 22 February 2021. Dominica was added to the Blacklist following on from its OECD Global Forum peer review report on transparency and exchange of information, in which its compliance rating remained partially [...]

BRUSSELS | 15 FEBRUARY 2021 CFE Tax Advisers Europe Annual Report CFE Tax Advisers Europe, in cooperation with IBFD, has published its Annual Report, which can be viewed on the CFE website. The report details CFE’s technical and policy work, relevant events and publications as well an overview of our activities aimed at Member organisations and [...]

BRUSSELS | 8 FEBRUARY 2021 OpenLux: Tax Investigation into Luxembourg by Le Monde Le Monde has today revealed it has completed an extensive investigation into tax affairs in Luxembourg, which will be published in 5 chapters, concerning: transparency and beneficial ownership, French individuals, French families of great wealth, multinationals; and money laundering. Le Monde reportedly compiled information from [...]

BRUSSELS | 12 JANUARY 2021 Christmas Miracle: Brexit Deal Reached Negotiations for a comprehensive post-Brexit free trade agreement between the EU and the UK came down to the wire last year, with a deal reached on Christmas Eve, narrowly avoiding the much feared ‘cliff-edge’ scenario at the end of the transition period on 1 January [...]

BRUSSELS | 21 DECEMBER 2020 Brexit Deal Not Reached by EU Parliament Deadline A deal was not able to reached over the weekend in time to meet the EU Parliament’s deadline to ensure implementation prior to the end of the transition period on 1 January 2021. Bernd Lange, chair of the Parliament’s trade committee, tweeted: “The consequence of [...]

BRUSSELS | 14 DECEMBER 2020 AG Kokott: Belgian Excess Profit Rulings Constitute ‘State Aid Scheme’ Advocate General Kokott issued an Opinion in Case C-337/19 P Commission v Belgium and Magnetrol International NV (Belgian Excess Profit Rulings). According to AG Kokott, the Commission rightly classified the Belgian practice of downward adjustments to profits of multinational group companies as a [...]

BRUSSELS | 30 NOVEMBER 2020 France Proceeds With Digital Tax Collection Despite Likely US Tariff Retaliation The French tax authorities have commenced collection processes for its digital tax, with companies such as Facebook and Amazon having received communications with demands for payment of tax for the year 2020. The French digital tax was signed into [...]

BRUSSELS | 23 NOVEMBER 2020 G20 Summit: Stronger International Collaboration Needed The G20 have called for stronger international collaboration in a number of different areas following on from an OECD report New Horizons examining structural reforms for recovery from the COVID-19 pandemic. The report was presented at the G20 Summit which took place virtually  from 21 – [...]

BRUSSELS | 16 NOVEMBER 2020 EU Negotiators Reach Compromise on Multiannual Financial Framework for 2021 – 2027 Negotiators for the EU Parliament and EU Council last week reached an agreement on the Multiannual Financial Framework for 2021 – 2027 and Own Resources. The agreement now allocates a further 16 Billion Euro beyond what was agreed [...]