Taxation

Our April issue, contains a special edition on recent EU taxation developments in 2016. EU tax law initiatives moved relatively rapidly during the first half of 2016 with a firm focus on transparency in taxation and tackling anti avoidance and aggressive taxation. Shortly before our April edition was published, the Panama Papers revelations hit the news.

On 4 April 2016, the consortium of investigative journalists published extracts from over 11 million documents, or 1.8 terabytes of data which were leaked by an anonymous source from the Panamanian law firm, Mossack Fonseca. The documents primarily revealed how shell companies and/or trusts had been used for aggressive tax planning and in some cases for tax evasion and money laundering. The papers highlighted the need for more transparency in beneficial ownership across the EU and internationally. They have also drawn attention to the importance of the exchange of tax information between countries and the rising exploitation of tax havens.

The Commission announced soon after the leaks that its previously published proposal on public Country-by-Country reporting by multinationals would now include an obligation to publish information from all parts of the entities, not just from the European subsidiaries as originally planned.

We have the pleasure of including a Viewpoint article from Anneliese Dodds MEP (S&D,UK) who is one of the key players in the European Parliament on taxation issues. We have an article from Donato Raponi, Head of the Unit on VAT from the European Commission, explaining the background to the VAT Action Plan that was also published in April 2016. Our team has also written articles on the Lux leaks cases, tax transparency, antiBEPS implementation proposals and the proceedings of the TAXE II Committee as part of the special In Focus section.

In focus: Unlawful State Aid in taxation - Member States reactions to the Commission's decisions

1 March 2016Updated: 20 July 2016

As described in previous Brussels Agendas the Commission recently reached decisions on four state aid cases; two cases against Luxembourg, one against the Netherlands and one against Belgium. 

In foucs: Commission's Anti-Tax Avoidance Directive to fill the gap before a Common Consolidated Corporate Tax Base is agreed

1 March 2016Updated: 20 July 2016

The Commission’s Proposal on Anti-Tax Avoidance Measures was published on 28 January 2016. The proposed measures will implement several of the OECD’s initiatives and will take the first steps towards the Common Consolidated Corporate Tax Base (CCCTB). In the meantime, the proposed Anti-Avoidance Directive includes six key anti-tax avoidance measures which Member States should apply. 

In focus: TAXE II Committee puts companies' tax policies under scrutiny

1 March 2016Updated: 20 July 2016

As has been reported in the December 2015 and January 2016 Brussels Agenda editions, the TAXE II Committee started its work in January 2016 with the aim of fighting tax evasion and aggressive tax planning at EU and international level.

In focus: An EU VAT system tailored to the internal market and today's challenges

1 March 2016Updated: 20 July 2016

Donato Raponi looks at the Eu VAT system and how it needs to be ugrently modernised.

All taxation features