Tax & Legal Update
Where to pay VAT on professional training courses – CJEU rules on Swedish case
The CJEU’s judgement has again shuffled the cards as regards the place of taxation for professional training courses. Should the venue of a course be decisive?
Government to disallow certain foreign investments
On 10 April 2019, Regulation (EU) 2019/452 of the European Parliament and the Council, establishing a framework for the screening of foreign direct investments into the European Union, entered into effect in record time. In connection with this, the…
Outsourcing in financial services – new and stricter guidelines
The European Banking Authority (EBA) has issued new and stricter guidelines on outsourcing arrangements, affecting all entities subject to its supervision, including payment and electronic money institutions. EBA’s guidelines have been prepared in…
New EU Prospectus Regulation: more obligations for issuers or less strict rules?
What major changes in disclosing information about securities are to be introduced by Regulation (EU) 2017/1129 of the European Parliament and the Council? The regulation will be directly applicable from 21 July of this year. Will issuers of…
Establishing trades or corporations easily, quickly and on-line?
To the Chamber of Deputies, a group of deputies has submitted a motion to amend legislation regulating the establishment of corporations. The proposal should enable the establishment of a trade or a limited liability company easily from home via the…
Draft amendment to tax laws to increase public budget revenues
The Ministry of Finance disclosed a draft amendment to tax laws for 2020, aimed at increasing revenues for public budgets. Changes will primarily affect insurance companies that will have to additionally tax, on a one-off basis, the difference…
Quick fixes to introduce significant changes in 2020
A draft amendment to the VAT Act for 2020 introduces significant changes for consignment stock arrangements and intra-community transactions with goods. These quick fixes are aimed at harmonising the rules for the delivery of goods among the EU…
Guidance on determining beneficial ownership: part two
The Court of Justice of the EU issued judgments in a number of cases dealing with beneficial ownership for EU directive purposes. The cases at issue mostly involved the application of an exemption from withholding tax on dividend and interest…
Bank’s branch’s full entitlement to VAT deduction
In case no. C - 165/17 Morgan Stanley & Co International, the Court of Justice of the EU (CJEU) provided an opinion on how to view an entitlement to a deduction of VAT on supplies received by a bank’s branch. This involved a case when supplies were…
9 major tax changes in case of no-deal Brexit
The planned date of Great Britain’s withdrawal from the EU set for 29 March 2019 has been postponed. However, a British proposal for postponement until 30 June 2019 has not been approved by the EU27. Below we summarise the major potential impacts of…
New EU regulation on public documents - the end of apostilles in EU
In mid-February, a new regulation on public documents in the European Union (No. 2016/1191) entered into effect, aimed to promote the free movement of persons within the EU by simplifying the requirements for presenting certain public documents,…