EU Council Tax & Compliance Bulletin 62

Printable Version

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”.

The Council also urges the European Commission to “establish a common standard at EU level for the reporting and tax information exchange mechanisms” concerning digital platforms, and that “EU legislation on tax transparency and exchange of information continues to build on the international consensus reached in the OECD fora”.

OECD Publishes Report on Restoration Planning by Tax Administrations:

The OECD has published a report prepared by the Forum on Tax Administration in cooperation with the Intra-European Organisation of Tax Administrations and the InterAmerican Center of Tax Administrations concerning how tax administrations can benefit from significant early business restoration planning for the recovery period from the coronavirus crisis. The report was published alongside another report highlighting the significant security, fraud and privacy risks posed by the crisis.

EU Launch Consultation on the VAT Scheme for Travel Agents & Tour Operators:

The EU Commission have launched a consultation on the VAT scheme for travel agents and tour operators, which was introduced in order to simplify the application of EU VAT rules for tour operators and travel agents.

The consultation aims to evaluate the effectiveness, relevance and coherence of the current special scheme, and whether it is fit for purpose in a digitalised economy, as well as its overall coherence with normal EU VAT rules.

The consultation can be accessed at the Have Your Say webpage. Input can be provided until 14 September.

EU Publish Antitrust Competition Tool Inception Impact Assessment:

The EU Commission has published an Inception Impact Assessment and launched a consultation concerning a proposed antitrust competition tool, which would allow for intervention against structural competition problems in markets. The Inception Impact Assessment details that the four policy options being explored for the tool are for either a dominance-based or market structure-based instrument, with either limited or horizontal scope.

ECOFIN Report to EU Council on Tax Issues:

The ECOFIN Council has issued a draft report providing an overview of the progress on tax policy work achieved under the Croatian Presidency of the EU. The report highlights in particular the agreement reached on the legislative package on mandatory transmission and exchange of VAT relevant payment information, the adoption of the directive on the common system of value added tax as regards the special scheme for small enterprises, the conclusions on the future evolution of administrative cooperation in the field of taxation in the EU and the negotiations on amending the administrative cooperation directive to defer deadlines for exchange of information as a result of the coronavirus crisis.

The Netherlands Publishes DAC6 Guidance:

The Netherlands has published guidance concerning the Directive as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements, commonly referred to as “DAC6”.

Members States had until 31 December 2019 to implement the Directive into domestic legislation. Given that all arrangements initiated after 25 June 2018 that fall within the scope of the Directive are reportable, there have been increased calls for the Commission to issue technical guidance to provide more clarity for tax advisers in the course of transposition of the directive. In late 2019, CFE, together with the European Contact Group (ECG) and the European Group of International Accounting Networks and Associations (EGIAN), sent a joint letter addressed to the Director General of the European Commission, DG TAXUD and members of Working Party IV encouraging the Commission and the Member States to continue their efforts to provide more guidance and clarification in the process of implementing DAC6.

EU Launch Consultation on the VAT Scheme for Travel Agents & Tour Operators:

The EU Commission have launched a consultation on the VAT scheme for travel agents and tour operators, which was introduced in order to simplify the application of EU VAT rules for tour operators and travel agents.

The consultation aims to evaluate the effectiveness, relevance and coherence of the current special scheme, and whether it is fit for purpose in a digitalised economy, as well as its overall coherence with normal EU VAT rules.

The consultation can be accessed at the Have Your Say webpage. Input can be provided until 14 September.

 

Source: Malta Institute of Taxation Click here and CFE Tax Advisors Europe Click Here

Please contact David Marinelli should you wish to discuss any matter relating to your Malta registered company.