CFE’s Tax Top 5 – 21 December 2020

BRUSSELS | 21 DECEMBER 2020 Brexit Deal Not Reached by EU Parliament Deadline A deal was not able to reached over the weekend in time to meet the EU Parliament’s deadline to ensure implementation prior to the end of the transition period on 1 January 2021. Bernd Lange, chair of the Parliament’s trade committee, tweeted: “The consequence of [...]

CFE’s Tax Top 5 – 14 December 2020

BRUSSELS | 14 DECEMBER 2020 AG Kokott: Belgian Excess Profit Rulings Constitute ‘State Aid Scheme’ Advocate General Kokott issued an Opinion in Case C-337/19 P Commission v Belgium and Magnetrol International NV (Belgian Excess Profit Rulings). According to AG Kokott, the Commission rightly classified the Belgian practice of downward adjustments to profits of multinational group companies as a [...]

CFE’s Tax Top 5 – 30 November 2020

BRUSSELS | 30 NOVEMBER 2020 France Proceeds With Digital Tax Collection Despite Likely US Tariff Retaliation The French tax authorities have commenced collection processes for its digital tax, with companies such as Facebook and Amazon having received communications with demands for payment of tax for the year 2020. The French digital tax was signed into [...]

CFE’s Tax Top 5 – 23 November 2020

BRUSSELS | 23 NOVEMBER 2020 G20 Summit: Stronger International Collaboration Needed The G20 have called for stronger international collaboration in a number of different areas following on from an OECD report New Horizons examining structural reforms for recovery from the COVID-19 pandemic. The report was presented at the G20 Summit which took place virtually  from 21 – [...]

CFE’s Tax Top 5 – 9 November 2020

BRUSSELS | 9 NOVEMBER 2020 Joe Biden Elected 46th President of the United States The United States have elected the Democratic Party candidate Joe Biden as 46th President, while Kamala Harris has made history becoming the first woman elected Vice-President of the United States. After a contentious campaign, the Biden-Harris ticket won 290 Electoral College votes, thus [...]

CFE’s Tax Top 5 – 26 October 2020

BRUSSELS | 26 OCTOBER 2020 CJEU Decision in Cross-Border Exchange of Information Cases The Court of Justice of the EU has handed down its decision in Cases C-245/19 and C-246/19, concerning cross border exchange of information in tax matters between tax authorities. The Resumé sets out that as concerns the right of either a taxpayer or third party [...]

CFE’s Tax Top 5 – 12 October 2020

BRUSSELS I 12 October 2020 OECD Digital Tax Webcast Update & Pillar 1 and 2 Consultation The OECD has launched a consultation concerning blueprints for Pillar 1 (review of profit allocation and nexus rules to reflect digital business models) and Pillar 2 (global anti-base erosion rules for a minimum effective taxation rate). Details of the consultation and progress in the negotiations [...]