Category: EU
This week in tax: EU VAT, Glencore and Making Tax Digital
As the UK moves ahead with Brexit, businesses across the EU are trying to overcome the difficulties of complying with EU tax law and the increasing likelihood of UK tax law breaking with those same standards. ... - Continue reading
EU removes Mongolia from list of non-cooperative jurisdictions for tax purposes
ULAN BATOR, Oct. 7 (Xinhua) — The Council of the European Union (EU) has removed Mongolia from the EU list of non-cooperative jurisdictions for tax purposes, the Mongolian Foreign Ministry said Wednesday. The country was removed from the list after it deposited the instruments of ratification of the Convention on… – Continue reading
Italy’s Supreme Court resolves withholding tax dispute over interest paid to holding company
The Italian Supreme Court, in a decision released 10 July, has addressed whether a sub-holding company was beneficial owner of interest payments for withholding tax purposes, applying the European Court of Justice’s holdings in the well-known Danish cases. ... - Continue reading
AG says Barbados will fight blacklisting ‘tooth and nail’
Barbados to fight for being unjustly blacklisted by the European Union. ... - Continue reading
Cyprus: Cyprus Residency Permit Procedures
Now that the day for Britain to officially leave the European Union is approaching, UK nationals seeking Cypriot residency might wish to accelerate their efforts. This article acts as a guide to this process. ... - Continue reading
HMRC targets wealthy in push on tax evasion
Wealthy people are increasingly facing investigation for suspected tax evasion, in a sign that HM Revenue & Customs is “keeping its promise” to intensify its crackdown on those hiding assets following the Panama Papers leak. ... - Continue reading
Apple Wins €13 Billion Tax Avoidance Case Against EU Antitrust Regulator
A big win for Apple in a tax avoidance court case. ... - Continue reading
EU to launch tax observatory
The EU’s awareness of the relevance of tax policy is clear. On 6 July, the European Commission called for proposals for the creation of an EU tax observatory. This follows the adoption of the Commission Decision on the financing of the preparatory action EU Tax Observatory – Capacity building to support Union policy making in the area of taxation and the adoption of the annual work programme for 2020 on 16 June. ... - Continue reading
Germany announces tax policy goals for Council of the EU Presidency
The German Presidency has put into place new legislations which will help revive the European economy. ... - Continue reading
EU Parliament creates permanent tax subcommittee
Tax justice taken a notch higher by the European Union. ... - Continue reading
Higher tax bill for Cyprus businesses after new law
Cyprus is aiming to better tackle tax avoidance by companies through a new legislation. The latter mainly addresses base erosion and profit shifting. ... - Continue reading
Italy’s financial transaction tax complies with EU law, court rules
The European Court of Justice judges Italy’s financial transaction tax to be compatible with EU laws. ... - Continue reading
Cyprus: Cyprus Company Tax Benefits And Other Relevant Incentives
Here are some of the tax benefits of a having a company in Cyprus. ... - Continue reading
EU Commission to investigate whether Netherlands granted IKEA subsidiary State aid by approving tax deductions
The European Commission to investigate into Inter IKEA systems' tax treatment for a possible breach of EU State Aid rules. ... - Continue reading
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Updates about tax reliefs offered by countries from all over the world during this time of crisis. ... - Continue reading
European Union: Extension Of Tax Benefit For UK Nationals Receiving A Government Service Pension
Residency in Cyprus when you are a UK national. ... - Continue reading
EU launches campaign to tackle tax evasion
The European Union ups its game by coming up with more initiative to fight off tax evasion. ... - Continue reading
Worldwide: Cayman Islands Added To EU Blacklist
On February 18, 2020, EU finance ministers updated the EU Blacklist, adding four jurisdictions—the Cayman Islands, Palau, Panama and Seychelles. ... - Continue reading
Turkey on tax evasion grey list
Turkey stays on the European Union's blacklist since 2017. ... - Continue reading
Sweden’s tax agency rejects Puma’s transfer pricing position, concludes risk borne elsewhere
The Swedish tax agency has adjusted the taxable income for the PUMA Group’s Swedish distributor, Puma Nordic AB, concluding that, for transfer pricing purposes, the Swedish distributor could not control the main risks in the Puma Group and therefore should not have carried the local market risks. The adjustment, made… – Continue reading
Tax avoidance, evasion costs EU 170 billion euros a year, says Poland
The Polish state think-tank reveals a loss of 170 million euros for European Union member states due to tax dodging. ... - Continue reading
France wants a solution for US dispute on digital tax within 15 days
Can a fortnight provide a solution for the tax dispute between the USA and France? This should be made aware in the days to come, but right now let's find out the details to this situation. ... - Continue reading
EU to roll out sanctions against blacklisted jurisdictions
The EU has approved a plan to impose financial sanctions on countries or jurisdictions on the bloc's tax haven blacklist by the end of 2020. ... - Continue reading
EU divided over definition of “tax paradise”
A policy proposal presented by the Danish government last week calls for a wider scope in the operative definition of tax avoidance and tax evasion. ... - Continue reading
