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
UK’s EU Referendum vote: PwC webcast – Friday, June 24
This week, the UK will vote to either leave or remain in the European Union (also known as “Brexit”). Regardless of the outcome of the UK’s EU referendum, there will be consequences for the European economy and business in general. To ensure our clients understand these issues, PwC will host a webcast examining the issues,
European Parliament approves amended Anti-Tax Avoidance Directive
On 8 June 2016, the European Parliament (EP) approved 91 amendments to a draft report of the Anti-Tax Avoidance Directive. The amendments to the draft Anti-Tax Avoidance Directive include, amongst others, proposals for a 15% rate for the application of the switch-over rule, an EU blacklist of tax havens and sanctions against uncooperative jurisdictions, additional limitations
Belgian Net Asset Tax compatible with EU law
The Court of Justice of the European Union (CJEU) ruled on 26 May 2016 that the Belgian Net Asset Tax (NAT) as applicable to foreign investment funds, is compatible with EU law. The CJEU’s decision in Case 48/15 (SPF Finances v. ING International SA) is rendered in the framework of a request for a preliminary
Long-awaited MiFID II Delegated Acts published
This MiFID II Delegated Directive brings clarity on some contentious investor protection issues, and confirms some key changes that firms need to accomplish in several important areas. The progress of the Markets in Financial Instruments Directive II (MiFID II) has been slow, stuttering and at times unpredictable, and the complexity and scale of the regulation
European Commission proposes Anti-Tax Avoidance Package
On 28 January 2016, the EU Commission presented its Anti-Tax Avoidance Package. The continuing political will to address tax avoidance may result in the 100% consensus required by EU Member States to effect the proposed tax changes. The EU-28 governments will have to decide if they are willing to go further than the G20/OECD BEPS
Insurance Distribution Directive published in Official Journal of the EU
Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution was published in the Official Journal on 2 February 2016. 1. In general The Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (IDD) (previously named ‘Insurance Mediation
Belgian Net Asset Tax before the Court of Justice of the EU – AG’s Opinion released
According to the Advocate General’s opinion issued on 21 January 2016, the Belgian Net Asset Tax applied to foreign investment funds is compatible with European law. The Court of Justice of the European Union (CJEU) was requested, by the Court of Appeal of Brussels, to grant a preliminary ruling on the compatibility, with European
