With our newsflash of 16 November 2021, we informed you of the formal approval of the public country-by-country reporting (PCbCR) directive on 11 November 2021. The directive is published in the Official Journal of the EU on 1 December 2021; it enters into force on the 20th day after its publication. Member states must introduce
Introduction On 11 November 2021, the European Parliament adopted the Directive on public country-by-country reporting (PCbCR). The adoption of this directive concludes the procedure (see earlier newsflash) on the introduction of specific European transparency rules and requires certain European or non-European multinational groups or standalone undertakings to publicly disclose certain financial data. Content of the
EU Roadmap for Business Taxation: EU Dynamite? On 18 May 2021, an important development in EU Tax policy took place when the European Commission announced their roadmap for Business Taxation for the 21st Century. This roadmap, published today, outlines 5 actions that the European Commission proposes to take in the coming months in Europe (some
The proposal seeks to allocate a greater share of taxing rights to the countries where consumers/users are located – regardless of a business’ physical presence there.
Fundamental changes to international tax structure ahead following OECD project on digitalisation of the economy
On 31 May 2019, the 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released a Programme of Work to develop a consensus solution to the tax challenges arising from the digitalisation of the economy. The Programme of Work was endorsed at the G20 meeting of finance ministers in Japan
On 9 November 2018, the Belgian tax administration published a draft circular letter on the 2017 version of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (2017 OECD TPG). Interested parties are invited to send their comments on the draft to firstname.lastname@example.org by 12 December 2018. Attention needs to be paid that