Features

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  • Letters to a (list of) small island (s)

    30 April 2018

    The catalyst for the creation of the black list was the visibility of ‘tax havens’ and offshore schemes created by the Panama Papers scandal, investigated by the European Parliament enquiry committee. However, the acceleration of agreement between the European Parliament and Commission leading to the publication of the list must be viewed in light of the publication of the ...

  • Council of the EU reaches agreement on tax intermediaries

    30 April 2018

    On 13 March, the EU Council reached agreement on a proposal aimed at boosting transparency in order to tackle aggressive cross-border tax planning. The proposal would require intermediaries such as tax advisors, accountants and lawyers that design and/or promote tax planning schemes to report schemes that are considered potentially aggressive. 

  • Taxation, taxation, taxation – the status quo and future developments affecting junior lawyers

    30 April 2018

    In advance of the UK formally leaving the EU on 29 March 2019, UK Parliament has drafted the Taxation (Cross-Border Trade) Bill (the “Bill”). This will enable the UK government to establish its own standalone customs regime and to ensure that VAT, along with excise legislation, can operate effectively in the future. This Bill is required, as current customs legislation is based in EU law and is directly applicable to the UK. The Bill provides a choice on the continued application of ...

  • Commissioner Moscovici and the EU’s fight against tax evasion/avoidance: the digital tax and the CCCTB

    30 April 2018

    The subject of fair taxation has dominated the political agenda in Europe since 2014, with the EU Commission taking high profile legislative and enforcement action in the area in the intervening years. Although a select number of competition and state aid decisions (for example that of Apple) dominated global headlines, the legislative work carried out by the Commission under Pierre Moscovici in the recent past is likely to have a more profound impact on the way multinationals pay tax ...

  • Parliament votes on the proposal for a Council Directive on exchange of information in the field of taxation

    30 April 2018

    The directive was adopted by the European Parliament in March 2018, however, the Parliament’s vote on the proposed amendments may only have a limited impact on the final text to be adopted by the Member States, as the Council (Member States) is not bound by these recommendations. 

  • Proposal for a Council directive on a Common Consolidated Corporate Tax Base (CCCTB) and a Common Corporate Tax Base (CCTB)

    30 April 2018

    The objective of this re-launched project is to strengthen the internal market by making it easier and cheaper for companies to operate cross-border in the EU, increase the transparency of corporate taxation and counter corporate aggressive tax planning. The proposals follow a European Parliament resolution on tax rulings and other similar measures (TAXE 1), where it called for establishment ...

  • European Commission cracks down on UK tax rules

    30 April 2018

    The UK’s tax rules in relation to controlled foreign companies (CFCs) have suffered a set-back following the European Commission’s recent preliminary decision that certain parts of the rules amount to unlawful state aid.