World news
OECD issues release on reviews conducted within BEPS
The Organisation for Economic Cooperation and Development (OECD) has issued a release that updates the results of preferential regime reviews conducted by the Forum on Harmful Tax Practices (FHTP) in connection with Action 5 under the Base Erosion…
Crowdfunding under regulator’s scrutiny
The proposal for a regulation on crowdfunding platforms in the EU is currently subject to a comment procedure. Such platforms allow the public to invest in projects using relatively small amounts of funds, while the final collected sum may amount to…
New digital economy taxation rules
In March, the European Commission issued two draft directives on the digital economy: the first one proposes to introduce a tax on digital services; the second one the concept of a virtual permanent establishment.
Tax planning may be subject to reporting duty
In mid-March, the ECOFIN Council reached political agreement on the rules requiring intermediaries (tax advisors, attorneys, other advisors) or taxpayers to disclose information on potentially aggressive cross-border tax planning arrangements. This…
EU Court of Justice rules in Deister Holding and Juhler Holding cases
At the end of 2017, the Court of Justice of the European Union (CJEU) issued a long-awaited judgment in the joined cases Deister Holding and Juhler Holding, concerning the application of the EU Parent-Subsidiary Directive and involving a dispute…
EU removes eight countries from its blacklist
At its January session, ECOFIN crossed off eight countries from the EU tax haven blacklist: South Korea, the United Arab Emirates, Panama, Barbados, Grenada, Macao, Mongolia and Tunisia were grey listed instead.
Can we look forward to new VAT rates?
In mid-January, the European Commission submitted a proposal to amend VAT rate rules and adopt a number of VAT measures that should help small and medium-size businesses reduce their administrative burden in connection with cross-border transactions…
First country-by-country reports handed in – what’s next?
The first round of country-by-country reporting (CbCR) is over. Each group subject to the reporting duty had to provide selected financial and non-financial data, for the group and broken down by individual jurisdictions, in a special format.
OECD proposes new disclosure rules
The Common Reporting Standard (CRS) is an approved global standard for the automatic exchange of information between tax authorities of individual states. It aims to prevent tax evasion and money laundering. Within the CRS, selected information on…
SAC: VAT cannot be levied twice on the same transaction
The Supreme Administrative Court (SAC) granted many VAT payers’ Christmas wishes by its favourable ruling regarding the fight against tax fraud. In the FAU case, attracting considerable media attention, the court said no to the concurrence of…
MOSS: the future of e-commerce?
At its December session, ECOFIN adopted new VAT rules that should make things easier for e-commerce businesses.
EU responds to challenges of profit taxation in digital economy
On 5 November 2018, ECOFIN adopted conclusions summarised in the document titled “Responding to the challenges of taxation of profits of the digital economy”. They are aimed at defining a common EU approach to the issue, in view of the expected…