Bulletin

Malta Budget, European Union Tax & Compliance Bulletin 70

A Malta Budget measure has proposed the introduction of a new proviso in terms of which the exemption from tax of income derived from a qualifying participating holding shall not apply to a dividend derived from a participating holding in a body of persons resident for tax purposes in a jurisdiction that is included in the EU list of noncooperative jurisdictions

EU Carbon Emissions, Compliance and Tax Bulletin 69

European Commission President Von der Leyen State of the Union address. Taxation was central to many of the issues focussed on during the address, in particular in relation to the goal announced to reduce EU emissions by 55% by 2030, up from the planned 40% decrease. The Carbon Border Adjustment Mechanism will be central to this plan, with Von der Leyen stating, “Carbon must have its price – because nature cannot pay the price anymore.”

EU Commission Tax & Compliance Bulletin 68

EU Commission Publishes ATAD Implementation Report: The EU Commission published a Report to the European Parliament and Council on the implementation of ATAD and ATAD2, the EU Anti-Tax Avoidance Directive, a factual document outlining the status of the implementation of the directive in Member states pursuant to Article 10 of the Directive.

EU Council, Tax & Compliance Bulletin 67

Calls for Increased Transparency in EU Council Code of Conduct Business Taxation Group: The EU Council’s Code of Conduct Group is facing increasing criticism in the wake of the Apple judgment to increase transparency concerning its operations, and information on the application of its standards in the listing process for the EU tax “Blacklist”.

EU Tax Package Tax & Compliance Bulletin 66

European Commission Unveils New Tax Package – The European Commission has now published its Tax Package for “fair and simple taxation”, designed to address issues experienced in EU taxation arising in the course of “a ‘taxpayer’s journey’: from registering your business, to reporting, payment, verification, dealing with disputes.”

EU – UK Tax & Compliance Bulletin 65

BREXIT – The Government of the United Kingdom has announced changes in the VAT treatment of goods imported from oversees and sold to UK customers and a new set of rules which will enter into force on 1 January 2021, at the end of the Brexit transition period.

EU DAC6, Tax and Compliance Bulletin 64

DAC6: The proposal as agreed by Member States in early June to defer deadlines for exchange of information under the administrative cooperation directive as a result of the coronavirus crisis has now been published in the Official Journal of the European Union and has entered into force.

EU Digital Tax and Compliance Bulletin 63

The Office of the US Trade Representative has announced the US will be carrying out investigations under Section 301 of its 1974 Trade Act concerning digital services taxes that have either been adopted or are being considered at political level by a number of countries worldwide.

EU Council Tax & Compliance Bulletin 62

Council of EU Approves Conclusions on Future Administrative Cooperation in Taxation: The Council of the European Union has now approved conclusions on the future administrative cooperation in taxation in the EU. The conclusions state that the Council believe that strengthening cooperation is “a very important part of the comprehensive EU effort to curb tax fraud, tax evasion and tax avoidance” and “are particularly relevant in the context of the need for recovery from the crisis caused by the COVID-19 pandemic”.

European Commission Tax & Compliance Bulletin 61

Commission Proposes to Postpone DAC6 Reporting Implementation: The European Commission has published proposals for Council decisions to postpone deadlines imposed by the EU Directive on Administrative Cooperation by 3 months. This follows on from public requests made by financial and professional association organisations, seeking leniency in the enforcement of penalties and deadlines contained within the Directive due to the extraordinary consequences of the COVID-19 outbreak which have resulted in severe disruption across the European economy.

EU Tax Administration & Compliance Bulletin 60

A global reference document setting out the measures taken by tax administrations worldwide has been created by the Forum on Tax Administration, containing detail of all taxation and financial measures taken by governments around the world in response to the COVID-19 outbreak.

European Union Tax & Compliance Bulletin 59

The European Commission has published a Roadmap concerning its Action Plan for Taking the Customs Union to the Next Level. The Commission aims to further “IT implementation and optimisation, customs risk analysis and management, integration of operations and cooperation between customs authorities, harnessing innovation and improving efficiency of customs administrations”.

EU Taxation & Compliance Bulletin 58

BEPS: OECD Publishes Responses to Country by Country Reporting Consultation:
The OECD has now published comments received in relation to a consultation document published in February inviting input concerning Action 13 of the Base Erosion and Profit Shifting Project, on Country-by-Country Reporting.

EU Tax & Compliance Bulletin 57

The Executive Vice-President of the European Commission Margrethe Vestager said the European Commission is strongly supportive of actions taken by some EU Member states to impose unilateral digital services tax in absence of a collective action.

EU Taxation & Compliance Bulletin 56

EU to impose tax rules on Member States:- Speaking at an event in Brussels, the Director for Direct Taxation and Tax Coordination in the EU, Benjamin Angel, indicated that the Commission is considering using its powers to bypass the unanimity requirement to decision making in taxation.