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Finnish Tax Administration to Publish Guidance on Reverse Hybrid Legislation
Late 2021, Finland implemented a regulation concerning taxation of reverse hybrid arrangements included in article 9a of ATAD2 directive (Council directive (EU) 2017/952 amending Directive 2016/1164). The new rules have been implemented in Section 8a of the Finnish act on taxation of cross-border hybrid arrangements (Hybrid Act) and have been applied for fiscal year 2022 onwards.
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European Economic and Social Committee
Council of the EU
Kyrgyzstan
Americas
Muddled goals, broad scope lead to unexpected costs of OECD tax agreement
Alex M. Parker, Capitol Counsel LLC, discusses why last year’s OECD-G20 global minimum tax agreement has revealed a scope much broader than most anticipated; provisions of the agreement, revealed in technical commentary released by the OECD in the past months, could affect everything from green energy incentives to affordable housing credits in the U.S.
Accounting
Belgium
Belgium
ECJ AG’s opinion on issues relating to protection of legal privilege in the context of exchange of information obligations under DAC6
Luca Tortorella and Michele Targa, Gatti Pavesi Bianchi Ludovici, discuss the European Court of Justice Advocate General’s April 5 opinion in case C-694/20 that the provisions of DAC6 did not infringe on the right to a fair trial when the name of the intermediary claiming the privilege was not disclosed to tax authorities.
Europe
ECJ rules on intragroup transaction concerning VAT concept of fixed establishment
Adrian ȚAGA, Romania’s National Tax Agency, discusses the April 7 European Court of Justice ruling in case C-333/20 Berlin Chemie A. Menarini that addresses whether in the underlying case the German shareholder has a permanent establishment for VAT purposes in the country of its Romanian subsidiary.
Europe
Africa
Americas
Estonia
Europe
Americas
Americas
Africa
Danish High Court rejects discretionary tax assessment in groundbreaking transfer pricing case
Susi Baerentzen, Carlsberg Foundation Postdoctoral Fellow, analyzes the High Court of Eastern Denmark’s March 28 ruling that dealt another harsh blow to the Danish Ministry of Taxation in the largest-ever transfer pricing case in Danish history regarding a USD 1.5 billion increase of taxable income for the oil business previously owned by A.P. Møller Maersk (now by Total Energies EP).
Americas
Austria
Europe
Europe
Poland issues binding interpretation of the concept of `controlled transaction’ for transfer pricing purposes
Dr. Monika Laskowska, Warsaw School of Economics, discusses the Polish Ministry of Finance’s December 2021 binding interpretation of the concept of a controlled transaction for transfer pricing purposes; it has created a few concerns regarding its interpretation since it was first introduced into Polish tax law in 2019.
Belgium
The year 2022 brings new wave of transfer pricing audits to MNEs in Belgium
Aldo Engels, Loyens & Loeff, discusses the Belgian government’s recent decision to increase the effectiveness of transfer pricing audits of MNEs—followed by a new wave of transfer pricing audits initiated in the beginning of 2022—and provides an overview of recent trends in the Belgian transfer pricing audit practice.
Accounting
Americas
Why Pillar Two should be abandoned
Allan Lanthier, a former advisor to the Canadian government, argues that when EU finance ministers next meet on April 5, they should abandon Pillar Two, which, he says, is a deeply flawed initiative that includes major changes on which countries had never previously agreed, including a new Domestic Minimum Top-Up tax and a significant rewrite of the Undertaxed Payment Rule.
Europe
Italy makes recent changes to cooperative compliance tax regime
Giuliana Polacco and Annarita De Carne, Studio Legale Bird & Bird, discuss two significant developments the Italian Revenue Agency made this month to its cooperative compliance regime, a forum allowing a taxpayer to prevent tax audits and to agree in advance with tax authorities regarding the tax treatment of specific uncertain transactions.
Europe
Asia-Pacific
Significant changes to the income tax treaty between Austria and the UAE as of 2023
Iris Burgstaller and Fanni Deak, TPA Austria, discuss recent changes to the Austria-United Arab Emirates income tax treaty to implement the OECD standards on base erosion and profit shifting (BEPS); after the exchange of the instruments of ratification, the amendments will be applicable for tax years after December 31, 2022.
Europe
Europe
Transfer pricing in Poland – a `Runmageddon’ for tax compliance teams
Milena Kaniewska-Srodecka, CrossBorder Solutions, discusses the rapidly evolving transfer pricing landscape in Poland, which is now quite challenging for compliance teams to navigate; even as the tax law in this area seems to be becoming more simplified on the one hand, there are still areas of dispute on the other, some unexpected obstacles, and the increasing consequences for noncompliance.
Americas
Implications of US Sixth Circuit Court’s reaffirmation that Whirlpool must pay taxes on US $45 million in income
Jack Taylor, University of Minho, discusses the long-term implications of the U.S. Court of Appeals for the Sixth Circuit’s March 2 reaffirmation of the previous December 2021 decision in Whirlpool v. Commissioner of Internal Revenue, which held that Whirpool must pay taxes on USD 45 million in income.
Europe
Africa
Europe
Electricité de France v. France: pricing of intercompany convertible and vanilla debt
New York City Economist Dr. J. Harold McClure analyzes the French Court of Appeal’s January 25 ruling in favor of the multinational in a somewhat involved intercompany financing pricing issue in a decision in case number 20VE00792; SAS Electricité de France International (SAS EDFI) is France’s largest electricity provider and owns the UK affiliate EDF Energy UK Ltd (EDFE).
Belarus
Europe
The EU maze for deducting final losses of a nonresident permanent establishment
Dragos Dancau, Ericsson, discusses the European Court of Justice’s March 10 publication of the opinion of Advocate General Collins in C-538/20 Finanzamt B v W AG; the case leaves questions the German referring court raised on how previous cases should be interpreted and shows the maze in analyzing the deduction of the final losses of a nonresident PE within the EU.
Europe
