Latest news & developments
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
New Belgian Real Estate Investment Fund (FIIS): draft legislation introduced in Parliament
The draft Program Act of 28 June 2016 contains several tax rules applicable to the existing Belgian Regulated Real Estate Company (RREC*) and the new Belgian Real Estate Investment Fund (FIIS**) and creates the legal basis for the Belgian government to issue decrees implementing the FIIS regime. Final legislation is expected to be published during
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
Lost in Transactions – Your one-stop guide for everything you need to know about BEPS and M&A
We are pleased to announce that M&A Tax & Legal Services just finalised a publication which will guide you in everything you need to know about BEPS and M&A. ‘Lost in transactions’ is a practical guide to managing M&A deals in today’s global, digital world. Please find more information and the PDF version of the
ATAD: what does it actually mean for financing?
On 21 June, the Economic and Financial Affairs Council (ECOFIN) reached a consensus on the “Anti-Tax Avoidance Directive” (ATAD). Some of the measures of this Directive directly affect groups’ existing financing set-ups. The main impact is the implementation of BEPS Action 4 via a Directive, which will impose a general interest deduction limitation. Member States
ECOFIN agrees on Commission’s proposal on Anti-Tax Avoidance Directive
On 20 June 2016, the Economic and Financial Affairs (ECOFIN) Council agreed on the Anti-Tax Avoidance Directive (ATAD) proposal of the European Commission, following approval of the Dutch presidency’s final proposal by the Belgian government and no further comments from other Member States. On 8 June 2016, the European Parliament (EP) approved 91 amendments to
