Business with Northern Ireland after Brexit

The European Commission has prepared a draft of changes to the VAT rules applicable to trading with Northern Ireland. The draft has been submitted as part of the preparations for Brexit at the end of this year. The new rules adjust the existing…

July G20 summit and digital economy taxation

The July G20 summit in Saudi Arabia, a meeting of finance ministers and central banks governors of the world’s major developed and emerging economies, brought a certain shift in their effort to set global rules for the taxation of the digital…

European Commission’s first plans for tax reform within the EU

In mid-July, the European Commission published a first draft of a new tax package aimed to boost the economy and create fair and simple taxation rules within the EU. A more detailed version will be published at the end of 2020, should the OECD’s…

BEPS 2.0: progress and setbacks

The preparation of BEPS 2.0, new rules for the taxation of the digital economy, has made some progress. Preliminary consensus has been reached on Pillar 1, defining a new rule according to which income will be taxed in the state of sale even if the…

DAC7 at last? European Commission targets digital platforms and sharing services

With the implementation of DAC6 underway in Europe, the European Commission has now submitted an initiative that may bring the seventh revision of the Directive on Administrative Cooperation in the Field of Taxation. It focuses on digital and shared…

OECD releases Transfer Pricing Guidance on Financial Transactions

The OECD released the long-awaited final version of a report on the pricing of related party financial transactions, which is part of BEPS Action Plans 4, 8-10 and will be implemented into the OECD Transfer Pricing Guidelines. The report focuses on…

Brexit from a Czech immigration law perspective

With the last day of January, the never-ending story of Brexit finally ended. The law implementing the withdrawal agreement was passed by the Parliament of the United Kingdom of Great Britain and Northern Ireland early this year and signed by Queen…

Application of beneficial ownership and anti-abuse principles in the EU 

Courts across the EU have been inspired by the so-called Danish judgements of the Court of Justice of the EU, and so some national courts’ decisions on the taxation of dividends and interest payments received by holdings have followed the beneficial…

Another extreme penalty for insufficient personal data protection

1&1 Telecom GmbH, a German mobile service operator, was fined EUR 9.6 million for the failure to implement sufficient technical and organisational measures to protect the personal data of its customers. This is one of the highest penalties ever…

Prudential requirements for dealers in securities

In December 2019, new regulations dealing with prudential requirements for dealers in securities were published in the EU Official Journal, introducing a new categorisation of dealers in securities and rules for the remuneration of their employees,…

New rules facilitating cross-border corporate mobility within EU

Two amendments to Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 on certain aspects of company law aim to harmonise and modernise EU company law and improve the application of the freedom of establishment. The…

BEPS 2.0: Revolution in international taxation on the horizon

Following up on the Base Erosion and Profit Shifting (BEPS) initiative, the OECD Secretariat published a document containing a new proposal for a unified and global approach to the taxation of the digital economy, BEPS 2.0, introducing a new method…