Americas
European Commission
Europe
Europe
Europe
ECJ rules in Spanish goodwill cases, implications for Apple, Fiat, Starbucks State aid cases
Dimitrios Kyriazis, a Doctoral Researcher in Law at the University of Oxford, analyzes the European Court of Justice’s judgment in the so-called Spanish goodwill cases, released December 21, and addresses the ruling’s impact on the Apple, Fiat, Starbucks State aid cases . . .
Europe
Commission refers France to the EU court over dividend tax credit
The European Commission on December 8 has asked France to comply fully with the ruling in Accor Case (C-310/09) of the Court of Justice of the European Union, writes Davide Anghileri of the University of Lausanne . . .
Americas
Belgium
Americas
Europe
EU Competition Commissioner to review UK/Google tax settlement: Rowena Mason & Jennifer Rankin / The Guardian→
Also, UK tax officials and Google reps have been summoned to appear at a Public Accounts Committee hearing February 11 to testify about the settlement. See: The Guardian.
Europe
The EU Commission’s anti-tax avoidance proposal: a first look
Professor Edoardo Traversa, Matthieu Possoz, and Elien Van Malder analyze the EU Commission’s proposed anti-tax avoidance directive, released today, noting that the document confirms that prevention of avoidance and abuse, rather than removal of cross-border obstacles, has become the dominant objective of EU tax policy.
Americas
US Senators urge Treasury to consider retaliatory EU tax in response to State aid cases
Four influential US Senators have urged the Obama administration to examine whether it should use its regulatory authority to impose additional taxes on EU citizens and corporations in retaliation for EU State aid . . .
Europe
European Commission seeks members for new expert group on automatic exchange of information
The European Commission has launched a call for applications for a newly established expert group on automatic exchange of financial account information for direct taxation purposes. The . . .
Council of the European Union
EU Council adopts directive on automatic exchange of tax rulings, reaches conclusions on BEPS
(Updated 12/10/2015) The European Council, during a December 8 meeting, formally agreed to an amended directive requiring EU States to exchange information automatically on advance cross-border tax rulings and . . .
Americas
US lawmakers to hold hearings on BEPS, EU State aid cases
(Updated 11/25/2015) The US Senate Finance Committee will consider the OECD/G20 base erosion profit shifting (BEPS) project and the European Commission’s State aid challenges to private tax rulings entered into between EU States . . .
Europe
European Commission releases 2014 report on EU tax reform
The European Commission on October 13 released a report “Tax Reforms in EU Member States: 2014.” See, report (7.34 MB), summary.
Americas
US official worries successful EU state aid challenges in Apple, Amazon, and Starbucks cases will hit US treasury – Financial Times
“Any retroactive tax would be borne by US taxpayers in the form of a credit,” notes US deputy assistant secretary, Robert Stack. See: Financial Times
Belgium
EU Commission to investigate tax ruling practices of all EU states
The European Commission has enlarged its state aid investigation into private tax ruling practices to cover all 28 European Union states. “The Commission will ask Member States to provide information about their tax ruling practice, in particular to confirm whether they provide tax rulings, and, if they do, to request a list of all companies that have received a tax ruling from 2010 to 2013,” the Commission said December 17 in a press release . . .
Andorra
EU agrees to automatically exchange of tax information with Liechtenstein
The EU and Liechtenstein on October 28 agreed to automatically exchange tax information on the financial accounts of each other’s residents beginning . . .
Europe
Patent box regimes do not increase local R&D, EU Commission paper concludes
Data suggests that while the existence of a patent box regime incentivizes multinationals to shift the location of their patents, the shift is usually not accompanied by an increase in research activities or . . .
Europe
EU Commission expected to soon rule that APAs granted to Starbucks by Netherlands and to Fiat by Luxembourg were illegal state aid >>The Wall Street Journal
Decisions on the advance pricing agreements may be released as soon as next Wednesday, writes Tom Fairless of The Wall Street Journal. See: The Wall Street Journal. More: Bloomberg. Related: MNE Tax.
Europe
EU Commission seeks stakeholder input on common consolidated corporate tax base
The EU Commission on October 8 launched a public consultation on an EU-wide common consolidated corporate tax base (CCCTB). Through the . . .
Europe
Switzerland and EU initial agreement on automatic exchange of information in tax matters
Switzerland and the European Union on March 19 initialed an agreement to commence automatic exchange of information from 2018 once the necessary legal basis has been created, Switzerland’s Federal Department of Finance has . . .
Europe
EU Commission proposes options to overhaul VAT system for B2B supplies of goods
The European Commission has announced that it is assessing different options for a new EU VAT regime for business-to-business (B2B) supplies of goods based on taxation at destination. The work is a step toward the goal of a complete overhaul . . .
Europe
PwC report to EU will support public release of country-by-country data for banks, says EurActiv
An unpublished draft report written by PwC in its role as contractor for the European Commission concludes it would be good for the economy if the EU requires banks to publicly release data such as turnover, profit and loss, and taxes, on a country-by-country basis, according to an Oct. 2 article by EurActiv. The PwC report will
Europe
EU finance ministers favor more limited information exchange on tax rulings, says Gramegna
Consensus is emerging among EU finance ministers that the EU Commission’s proposal for automatic exchange of private tax ruling information should be adopted with modifications providing for more limited disclosures and a shorter period of retroactive. . .
Americas
Walmart’s extensive use of tax havens exposed in report
Walmart has stashed billions in 78 subsidiaries and branches located in 15 overseas tax havens, employing well-known international tax strategies to avoid paying foreign taxes in countries where it has retail operations and US taxes on foreign earnings, writes Americans for Tax Fairness in a . . .
Europe
Commission Report concludes €177 billion VAT not collected in EU
A European Commission report released October 23 estimates that €177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012. The VAT Gap study provides VAT collection trends among 26 EU Member States and analyzes the impact that the economic climate and policy decisions have on VAT revenues. See, report (985 kB), release.
Europe
Luxembourg to appeal EU Commission’s finding that Fiat APA was illegal State aid
The Luxembourg government today announced that it will appeal the European Commission’s October 21 decision that an advance pricing agreement (APA) issued by Luxembourg to a Fiat subsidiary amounted to illegal. . .
Europe
Europe
EU Commission proposes automatic exchange of tax ruling info, weighs public release of country-by-country reporting data
The European Commission on March 18 released a proposal that would require EU states to automatically exchange information about their tax rulings with other EU states. The Commission also announced plans to study the possibility of imposing greater tax transparency requirements on companies operating in the EU. The proposal, first announced by EU Commission President . . .
Europe
Luxembourg fights EU Commission demand for disclosure of private rulings practices
Luxembourg has brought two actions in EU General Court asking the court to annul European Commission decisions that direct Luxembourg to provide information on its intellectual property taxation scheme and to provide the Commission with a list of advance tax rulings issued in 2010, 2011, and 2012 involving cross-border transactions . . .
Europe
Juncker, Vestager say EU rules needed for private tax rulings
European Commission President Jean-Claude Juncker told parliamentary committees January 17 that the EU should adopt rules governing private rulings . . .
Americas
Washington State tax subsidies to Boeing challenged by EU
The European Commission on December 19 requested formal consultations with the US in the World Trade Organization (WTO) concerning recent Washington State legislation extending tax subsidies to Boeing and other aerospace firms from 2024 through 2040, estimated at USD 8.7 billion. The Commission maintains that Washington State tax subsidies, originally set to expire in 2024, have already been declared WTO inconsistent. See, EU Commission release.
Europe
EU Commission updates list of third countries considered non-cooperative for tax purposes by EU states
The EU Commission announced October 12 that it has made changes to its consolidated list of non-EU countries deemed non-cooperative for tax purposes, as identified by the Member States. The updates to the list, located on the Commission’s . . .
UPDATE (10/14/2015): Hong Kong Treasury notes the removal of Hong Kong from Spain and Estonia’s blacklists: The government said that allegations that Hong Kong are a tax haven are unfounded. See, release.
Austria
New plan for EU financial transaction tax would widen its base and lower rates
EU finance ministers have renewed their push to enact a financial transaction tax among the EU states, with some agreeing to a phased timetable for the introduction of the tax, and others expressing support for a new plan to widen the tax base, particularly with respect to derivative products. In a statement released January 22, Austrian finance minister Hans Jörg Schelling . . .
Europe
EU solicits comments on state aid investigation into Netherlands’ APA granted to Starbucks
The European Commission on December 19 invited interested parties to comment on its investigation into whether an advance pricing agreement (APA) granted by the Netherlands to a Starbucks subsidiary constitutes illegal state aid. The Commission said it currently. . .
Belgium
EU Commission will scrutinize ‘Lux Leaks’ tax rulings for state aid violations, says competition chief
The European Commission intends to analyze leaked Luxembourg private tax rulings for evidence of illegal state aid, the European Union’s new competition chief, Margrethe Vestager, said November 20. “We consider the Lux-Leaks documents as market information. We will examine [them] and also therefore evaluate whether or not this will lead us to . . .
Europe
Journalists publish leaked advance rulings and tax returns, conclude that Luxembourg aids tax avoidance
The International Consortium of Investigative Journalists (ICIJ) on November 5 published confidential tax documents of PwC clients on the Internet accompanied by a series of news stories that conclude that Luxembourg has been a long-time partner in multinational corporation tax avoidance. The leaked documents include 548 Luxembourg advance rulings, or comfort letters; corporate tax returns . . .
Luxembourg defends tax rulings: “The rulings in Luxembourg are compatible with the Luxembourg legislation, compatible with the EU-legislation, and compatible with the OECD-conventions, and any other international conventions,” Minister of Finance, Pierre Gramegna, said November 6, at the Ecofin council in Brussels. See speech.
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Jean-Claude Juncker should resign says Bloomberg: Jean-Claude Juncker, the new president of the European Commission, has a “clear conflict of interest” as head of the body investigating the tax practices he oversaw as Luxembourg’s prime minister, says Bloomberg in a November 9 opinion piece. See, Bloomberg.
Europe
EU Commission recommends public release of country-by-country reporting for banks
The European Commission has concluded that public dissemination of country-by-country reporting by banks will not have a negative impact on the economy, paving the way for public release of the data by January 1, 2015. “At this stage, the public country-by-country reporting of information under Article 89 of Directive 2013/36/EU is not expected to have significant negative economic impact, in particular on competitiveness, investment, . . .
