CJEU rules that Belgian participation exemption infringes Parent-Subsidiary Directive
On 19 December 2019, the Court of Justice of the European Union (CJEU) rendered its judgment in the “Brussels Securities” case. The CJEU ruled that the combination of the dividends-received deduction and the order of deductions as arranged in the Belgian corporate income tax system infringes the Parent-Subsidiary Directive. What is the issue? In
Mandatory disclosure rules for intermediaries (DAC 6) – Belgian law adopted by the Chamber of Representatives
On 12 December, the draft bill implementing the EU Council Directive 2018/822/EU of 26 May 2018, also known as “DAC6 Directive”, has been adopted by the Chamber of Representatives. In short, DAC6 provides for the obligation to declare certain cross-border tax arrangements to the Belgian tax authorities. This obligation is incumbent on both taxpayers
UK publishes draft legislation and guidance on digital services tax
The UK tax authorities on July 11 published draft legislation and draft guidance for a digital services tax (DST) to become effective April 1, 2020. These are available for public consultation until September 5, 2019. The DST is expected to apply by default at 2% of deemed UK revenues derived in excess of £25m, where
CJEU judgments on Swedish “final losses” cases
On 19 June 2019, the Court of Justice of the European Union (CJEU) issued its judgments in Memira Holding (C-607/17) and Holmen (C-608/17) on Swedish “final tax” losses. A brief explanation of the decision can be found via this link.
European Commission announces final State aid decision on financing income exemption within the UK’s CFC rules
On 2 April 2019, the European Commission (EC) announced that the Group Financing Exemption (GFE) within the UK Controlled Foreign Company (CFC) rules is “partly justified”. The decision has not yet been published but a brief explanation of the decision can be found via this link.
European Commission opens State aid investigation into Luxembourg’s tax treatment of Huhtamäki
On 7 March 2019, the European Commission (EC) announced the opening of an in-depth State aid investigation in a number of tax rulings granted by Luxembourg to Huhtamäki. This decision is another important decision in a range of decisions dealing with the taxation of intra-group financing activities. A brief explanation of the decision can be found
CJEU hands down important judgments in Danish cases on beneficial ownership
On 26 February 2019, the Court of Justice of the European Union (CJEU) issued its judgments in T Denmark and Y Denmark vs. The Danish Ministry of Taxation (Joined Cases C-116/16 and C-117/16 – “the dividend cases”) and in N Luxembourg 1, X Denmark A/S, C Danmark I and Z Denmark ApS vs. the Danish
European Court annuls the decision of the European Commission that Excess Profit rulings are State Aid
The General Court decided that the European Commission has made an error in its decision where it concluded that the Belgian excess profit regime resulted in a so-called ‘State aid scheme’. As a result of this approach under a State aid scheme (rather than assessing each of the rulings involved), the European Commission limited its
