Europe

Germany, France making progress on EU-wide corporate tax system

Konstantin Sakuth of Linklaters LLP, Munich, provides an update of Germany and France’s plan to jointly develop a common corporate tax base for Europe, noting June 5 comments made by Germany’s Martin Kreienbaum at the OECD Tax Conference in Washington and a May 31 German government announcement on the topic . . .

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Africa

EU finance ministers adjust tax haven blacklist, approve tax transparency scheme for intermediaries

Davide Anghileri of the University of Lausanne discusses today’s proceedings at the European Union’s Economic and Financial Affairs Council, where the EU’s blacklist of non-cooperative jurisdictions in taxation matters was updated and the ministers voted to approve a Commission proposal requiring mandatory reporting by intermediaries involved with potentially aggressive tax planning schemes . . . 

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Americas

EU proposal to halt multinational tax avoidance through third-country hybrid mismatches stalls

EU finance ministers, during an ECOFIN meeting of the Council of the EU held December 6, were unable to reach agreement on new hybrid mismatch rules designed to prevent multinationals from avoiding tax by exploiting differences between the tax systems of EU and non-EU countries. The ministers disagreed with a Dutch proposal to extend the effective date of the rules and a UK proposal. . .