Tag - European Union

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EU - VAT Refund Procedure Scrutinised

February 15th saw the European Commission launch a compliance check to assess whether VAT refunds to business in EU Member States are in line with both current EU law and case law of the European Court of Justice. In essence they wish to assess whether businesses are refunded quickly enough in all Member States. The press release can be found here.

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EU - Tax Haven Blacklist Amended

Further to a previous report, January 23rd 2018 saw the EU remove eight countries, including Panama and South Korea, from its list of tax havens, just weeks after first publishing the blacklist.

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EU - Ireland and Hungary Oppose Harmonisation

Further to a previous article we can now report that Hungary and Ireland have reaffirmed they will not accept any efforts by the European Union to harmonise corporate and other tax rules.

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Facebook Proposed New structure to Allay Widespread Criticism of Tax Affairs

Following mounting pressure from campaigners, Facebook has agreed to make voluntary changes to its tax structure, so that it pays tax in the country where profits are earned, rather than re-routing it via its Irish headquarters.

The change comes following revelations of tax avoidance schemes by multinationals which has subsequently led the EU to look at ways of taxing digital giants such as Facebook who book profits in low tax countries like Ireland.

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EU – List of non-cooperative Tax Jurisdictions Published

On 5th December, the EU Finance Ministers gathered in Brussels for the latest ECOFIN meeting, agreed that 17 countries did not meet the tax good governance standards.

The list, which is the first ever produced by the EU,  includes the following countries:

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EU - Council Approves VAT Derogations

The European Council, acting unanimously on a proposal from the European Commission may authorise any Member State to apply special measures for derogation from the provisions of the EU VAT Directive. This is only justified when it is in order to simplify the procedure for collecting VAT or to prevent certain forms of tax evasion or avoidance.

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OECD - VAT Implementation Guidance Released

On October 24th the Organisation for Economic Cooperation and Development (OECD) announced the release of new implementation guidance to promote the effective collection of consumption taxes on cross-border sales.

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EU - Digital Tax Update

Further to our article on 11th October we can bring you an update on the debate surrounding the implementation of new legislation to tax digital companies such as Amazon and Google within the EU.

At the recent EU summit in Brussels on October 19th the drive to force the internet giants to pay more tax, through being taxed on revenue rather than profit, is losing momentum.

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EU - The creation of European Public Prosecutor's Office agreed by 20 member states

It was agreed on the 12th October that the EPPO, whose central office will be based in Luxembourg, will be in charge of investigating and prosecuting offenders of EU fraud. 

"The creation of the European Public Prosecutor's Office is an important step in European justice cooperation, which will help to protect our taxpayers money.

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EU: proposal for Single VAT System

On October 4th 2017 the European Commission announced an overhaul of the current European VAT system. The long-term plan that could take effect on January 1st 2022 includes the introduction of a ‘single European VAT area’. A formal proposal is expected in 2018 but unanimous agreement from all Member States in the Council will be required before the proposal can enter into force.

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