European Commission publishes decision to investigate the Belgian excess profit provision
The non-confidential version of the European Commission’s opening decision announcing the formal investigation into the Belgian Excess Profit provision embodied in section 185 §2, b) of the Income Tax Code was published in the EU’s Official Journal on 5 June 2015. Beneficiaries of excess profit rulings are requested to submit their comments at the latest one
EC presents proposal for mandatory automatic exchange of information on cross-border tax rulings within the EU
In a press release of 18 March 2015, the European Commission (“EC”) announced its Tax Transparency Package, including a proposal to broaden the scope of the EU Council Directive (2011/16/EU) on Administrative Cooperation in the field of taxation (known as the “DAC”). Mandatory exchange of information The EC has released its proposed modification to the
European Commission announces investigation into Belgian excess profit ruling system
On 3 February 2015, the European Commission released a press release announcing an in-depth investigation into a Belgian tax provision that allows group companies to reduce their corporate tax basis with a profit part that results from the advantage of belonging to a multinational group, on the basis of what is referred to as an “excess profit” tax ruling. The press release
European Commission launches public consultation on IFRS
The European Commission is holding a public consultation to seek views from all interested parties on their experience of Regulation 1606/2002 (“the IAS Regulation”). The results of this public consultation will feed into the European Commission’s evaluation of the IAS Regulation. The IAS Regulation states that the IFRS must be applied to the consolidated financial
PwC announces publication of study on EU Customs Union
We are pleased to inform you that PwC has conducted a study for DG TAXUD on the Evaluation of the Customs Union during the period 2012 – 2013. The study includes an analysis and evaluation of the EU Customs Union based on the data PwC collected from business stakeholders and public authorities (customs and other
