Gradually, economic substance has become a key element in an international context and is relevant for the application of national tax laws and double tax treaties and avoid the application of national anti-abuse rules.
On 1st June, the EU Council reached a provisional political agreement with the European Parliament’s negotiating team on the proposed directive on the disclosure of income tax information by certain undertakings and branches
On 1 June 2021, the Council of the European Union (the “Council”) reached a political agreement with the European Parliament on the proposed directive on the disclosure of income tax information
On 18 May 2021, the EU Commission published a Communication on Business Taxation for the 21st century (“the Communication”).
On 19 May 2021, the European Commission released a Communication, “Business taxation for the 21st Century”, which sets out both a short-term and a long-term vision, ostensibly to support Europe’s recovery from the COVID- 19 pandemic
On 18 May 2021, the European Commission issued a communication on “Business Taxation for the 21st Century”. The announcements made therein are expected to translate into actual legislative proposals in the next three years.
In the aviation sector, identifying "green" economic activities and projects is not an easy task. The European Commission has published Steer's study on the criteria to be taken into account when establishing which specific activities in the aviation sector could be beneficial to the environment.
On 12 May 2021, the General Court of the EU issued its judgments concerning the appeals brought by Amazon and Luxembourg, respectively ENGIE and Luxembourg, against the European Commission decisions of October 2017
DAC7 extends the existing EU tax transparency rules to digital platforms. Broadly speaking, it requires platform operators to report information on income earned by sellers on their platforms, and Member States to automatically exchange this information.
