CFE’s Tax Top 5 – 12 DECEMBER 2022

BRUSSELS | 12 DECEMBER 2022 ECJ: Certain Elements of DAC6 Incompatible with Primary EU Law The Court of Justice of the European Union found certain elements of the Directive on Administrative Cooperation to be incompatible with primary EU law, i.e. the Charter of Fundamental Rights. EU courts are empowered to invalidate secondary EU law (such as directives) [...]

CFE’s Tax Top 5 – 5 DECEMBER 2022

BRUSSELS | 5 DECEMBER 2022 EU Seeks to Define Aggressive Tax Planning Benjamin Angel, Director in the European Commission in DG TAXUD, said on Friday that the European Commission will try to establish a legal definition of aggressive tax planning, thus providing clarity to tax professionals on the so-called ‘grey zone’ in tax planning. Whereas [...]

CFE’s Tax Top 5 – 28 NOVEMBER 2022

BRUSSELS | 28 NOVEMBER 2022 ECJ Rules Public Access to Beneficial Ownership Registry Information Invalid – Joined Cases C-37/20 & C-601/20 The European Court of Justice last week ruled in joined cases C-37/20 & C-601/20 WM and Sovim SA v Luxembourg Business Registers that a provision in Luxembourg’s national legislation implementing the EU Anti-Money Laundering Directive (Directive (EU) 2018/843) rules requiring that [...]

CFE’s Tax Top 5 – 21 NOVEMBER 2022

BRUSSELS | 21 NOVEMBER 2022 EU Adopts Revised Code of Conduct on Business Taxation EU Finance ministers approved last week the revised Code of Conduct on Business Taxation, setting out stricter criteria for evaluation of harmful tax regimes. The revised code of conduct introduces scrutiny on ‘tax features of general application’, thus expanding the existing focus on ‘preferential measures’. Per [...]

CFE’s Tax Top 5 – 14 NOVEMBER 2022

BRUSSELS | 14 NOVEMBER 2022 28 Jurisdictions Sign Agreement on Reporting Income from Digital Platforms The plenary meeting of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes was held from 9 – 11 November in Seville, Spain. At the periphery of the plenary meeting, a multilateral competent authority agreement (MCAA) for the [...]

CFE’s Tax Top 5 – 7 NOVEMBER 2022

BRUSSELS | 7 NOVEMBER 2022 EU Parliament’s Draft Report on Tax-Related Revelations The European Parliament heard last week the findings of MEP Niels Fuglsang (S&D, DK) who presented in the draft report of October 2022. The draft paper discusses the “Lessons learnt from the Pandora Papers and other revelations”. Key-findings include a recommendations for EU Member states to introduce cooling-off [...]

CFE’s Tax Top 5 – 24 OCTOBER 2022

BRUSSELS | 24 OCTOBER 2022 EU Parliament’s FISC: Reform of Corporate Taxation & Lessons Learned from the Pandora Papers The European Parliament’s Permanent Subcommittee on Tax Matters, FISC, will meet this week on 27 October. At the meeting, MEPs who make up the members of FISC will hold a public hearing on what is next for reform of corporate [...]

CFE’s Tax Top 5 – 17 OCTOBER 2022

BRUSSELS | 17 OCTOBER 2022 EU Commission Publishes BEFIT Call for Evidence The European Commission has last week published a call for evidence on establishing a new corporate income taxation framework in Europe (BEFIT), setting out the policy context and the key objectives of the initiative. This consultation follows on the discussions organised by the European Commission [...]

CFE’s Tax Top 5 – 10 OCTOBER 2022

BRUSSELS | 10 OCTOBER 2022 OECD Presents New Crypto-Assets Transparency Framework The OECD has today published its Crypto-Asset Reporting Framework (“CARF”), following on from the public consultation process which took place in Spring 2022. CFE at the time issued an Opinion Statement setting out its reservations and views on the proposed Framework. The CARF will provide for annual automatic exchange of information [...]