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When businesses start operating across borders, they are faced with a new and unfamiliar corporate tax system in each EU Member State. As a result, businesses with cross-border activities have to spend time and resources on understanding and complying with complex local corporate tax rules. This represents a significant administrative burden, in particular for small companies. To lower tax compliance costs, the European Commission tabled on 12 September 2023 a proposal for a Council directive to ...

The pricing of goods and services that are traded within a multinational group is referred to as 'transfer pricing'. The prices charged on such transactions affect the division of income between the different entities of the multinational group (and consequently, the taxable profits per country). To ensure that transactions between group entities are priced in a way that reflects their fair market value – i.e. as if the transactions were made between independent entities – countries have put in place ...

In June 2023, the Commission tabled a proposal ('FASTER') to make withholding tax procedures in the EU more efficient and secure for cross-border investors and Member State tax administrations, to the benefit of the EU capital markets union. The Council must vote unanimously, after consulting the Parliament, to adopt the directive. Parliament is due to vote its (non-binding) report during the February II plenary session.

EU Member States' public finances have been under considerable strain owing to both the COVID-19 pandemic and the twin energy-cost-of-living crisis. To bolster EU economies in the wake of these challenging times, various initiatives were taken forward at EU level to simplify tax compliance for businesses operating across borders, and to ensure that taxpayers were paying their fair share. As the current Commission's mandate approaches its conclusion, this briefing looks at some notable achievements ...

In most countries in the European Union (EU) and in the rest of the world, debt is treated more favourably from a tax perspective than equity, with interest payments on loans generally being tax deductible. In contrast, costs relating to equity financing, such as dividends, are mostly non-tax deductible. This unequal treatment of debt and equity leads to a bias towards debt in businesses' investment decisions and can lead to high levels of indebtedness in the EU corporate sector. On 11 May 2022, ...

Blockchain and its applications, in particular cryptocurrencies, have grabbed the headlines, but many people still do not know how they work. This briefing provides an overview of the uses and challenges of this technology, based on published information. Blockchain originated as part of the enabling digital ledger technology (DLT) developed at the end of the 20th century. DLT works as a digital database containing information (as a record book or ledger) that can be simultaneously used and shared ...

When businesses start operating cross-border, they are faced with a new and unfamiliar corporate tax system in each EU Member State. As a result, businesses with cross-border activities have to spend time and resources on understanding and complying with complex local corporate tax rules. This represents a significant administrative burden for those companies, increases the risk of double taxation and discourages companies from taking full advantage of the single market. On 12 September 2023, the ...

This report examines the role of Foreign Direct Investment (FDI) in tax havens. About 40-45% of the global FDI stock is hosted in tax havens, while their share in the world economy is only around 4½%. These abnormal FDI patterns suggest that FDI and international corporate tax avoidance are closely related. Traditional tax havens are attractive because of zero tax rates and uncooperative behaviour. For European tax havens it is rather a mix of policies related to improving the investment climate ...

VAT in the digital age

Briefing 16-11-2023

Value added tax (VAT) is one of the key revenue raisers in national budgets, accounting on average for almost a fifth of all tax revenue collected in the EU. Yet, sizeable amounts of VAT revenue are lost to fraud. Moreover, VAT rules place a considerable administrative burden on businesses. Therefore, to help strengthen the fight against VAT fraud and reduce this burden, the European Commission tabled a three-part proposal for a directive on VAT in the digital age, on 8 December 2022. The proposal ...

The rise of e-commerce has required the system of value-added tax (VAT) to adapt and ensure that the rules allow for a smooth and fraud-proof transaction between customer and seller. The major overhaul of the VAT rules for e-commerce in 2021 introduced a series of important simplifications for businesses, such as the creation of an import one-stop shop (IOSS). The IOSS allows businesses to declare and remit VAT on all their business-to-consumer (B2C) distance sales of imported goods across the EU ...