European Commission sets out next steps to boost tax transparency
On 5 July 2016, the European Commission (“Commission”) presented a Communication putting forward the priorities in their work towards a fairer, more transparent and more effective taxation system, together with a proposal to amend the Fourth Anti-Money Laundering Directive (“AMLD”). By means of these initiatives, the Commission wants to address the remaining gaps in the
Market Abuse Regulation has entered into force
As of 3 July 2016, the new Market Abuse Regulation (MAR) has entered into force in Belgium and across Europe. It repeals and replaces the existing regime of the Market Abuse Directive and its implementing legislation. The Market Abuse Regulation The new Regulation aims to update and strengthen the existing rules on market integrity and
Parliament has approved Belgian Transfer Pricing Documentation Requirements
On 29 June 2016, the Belgian Parliament adopted the ‘programme law’ (introduced on 2 June 2016) that contains the introduction into Belgian tax law of specific transfer pricing documentation requirements (published in the Belgian Official Gazette of 4 July 2016). These requirements are based on Action 13 of the OECD /G20 BEPS Project. See our post
Brexit: Financial Services Tax outlook
On Thursday 23 June 2016, a historic referendum on the UK’s membership of the EU was held, with the ‘Leave’ result announced the following day. The aftermath now requires careful consideration of the potential short and medium term scenarios the UK government could take in the following months and years and the potential effects each
MiFID II and MiFIR one-year delay published in EU Official Journal
The Directive[1] and Regulation[2] providing for a one-year delay for the date of applicability of MiFID II and MiFIR were published in the Official Journal of the EU on 30 June 2016. Published in the Official Journal of the EU on 15 May 2015, entered into force on 4 June of the same year,
OECD publishes guidance on implementation of Country-by-Country Reporting
On 29 June 2016, the OECD released its Guidance on the Implementation of Country-by-Country Reporting (CbCR). According to the OECD press release, this is “a new step in its continuing efforts to boost transparency in international tax matters”. After the G20 leaders gave their approval regarding the final BEPS Package in November 2015, the focus
Brexit – Keep up to date on what’s next for FS
The UK’s decision to leave the EU will have far reaching implications for the financial services sector. As the detailed political and legal issues are worked out over the coming months there is a wealth of complexity to be considered and navigated. Please join us on Friday 1 July at 9.30am when our experts will be discussing
Anti-Tax Avoidance Directive: impacts on the real estate industry
EU countries reach political agreement on Anti-Tax Avoidance Directive: impacts on the real estate industry The EU-28 Finance Ministers reached political agreement on 21 June 2016 on the Council Directive laying down rules against tax avoidance practices that directly affect the functioning of the internal market (also known as ATAD). Ministers decided not to include
