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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 ...

Debt–equity bias reduction allowance (DEBRA)

Εν συντομία 10-01-2024

In May 2022, the Commission tabled a proposal ('DEBRA') to address the debt-equity bias in corporate taxation. As debt is treated more favourably from a tax perspective than equity, European companies are significantly more reliant on bank loans when funding new investments. To address this bias, the Commission proposes to introduce an allowance that will grant equity the same tax treatment as debt. The Council must vote unanimously, after consulting the Parliament, to adopt the directive. Parliament ...

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 ...

Tax authorities and businesses in the EU are preparing for the implementation of the minimum corporate tax ('Pillar Two'), following the milestone global agreement reached in the OECD Inclusive Framework in 2021. Questions have however been raised as to the extent to which countries should reform their tax incentives, in a world where the global minimum corporate tax can undermine such incentives.

This study analyses the design and functioning of windfall profit taxes for energy suppliers in the EU. Based on profit data from 2021, the estimated revenue gains from the solidarity contribution amount to 4.4 bn EUR for the selected sample of firms. Applying the revenue cap to power prices of 2022 suggests a tax revenue of 106 bn EUR. The actual tax revenue might diverge substantially from these numbers due to different energy price levels during the application period. The revenue can be redistributed ...

This study aims at quantifying and comparing tax compliance costs burdening private businesses in the European Union by reviewing the available empirical literature and data with a focus on small and medium-sized enterprises. Data as well as methodological challenges are discussed and used to identify best-practice tax systems in Europe. We highlight differences in compliance costs met by firms of differing sizes, engaging or not in cross-border trade and for different tax types.

While shell companies – company entities that have no or minimal economic activity – can serve useful commercial and business functions, they are sometimes abused by companies or individuals for aggressive tax planning or tax evasion. To ensure sustainable public finances under the exceptional circumstances imposed by the COVID-19 pandemic, in December 2021 the European Commission presented a directive on preventing shell companies from misusing their structure for tax purposes ('Unshell'). The proposal ...

Corporate taxation reform: What comes next?

Εν συντομία 19-10-2022

If implemented in the EU and globally in 2024, the two-pillar agreement reached in 2021 by 137 countries as part of the OECD Inclusive Framework will change international corporate tax rules significantly. In the meantime, the European Commission is preparing to relaunch the idea of an EU common consolidated corporate tax base (BEFIT), which should build on the foundation laid by the OECD agreement.

While Luxembourg is one of the smallest EU Member States in terms of size and population, it is a major European and global financial hub, which plays a key role for investment flows across the EU and provides banking and insurance services to businesses and households. At the same time, Luxembourg has been criticised for its corporate tax framework, which businesses or high net-worth individuals may be employing for abusive tax purposes. In particular, following on from the 'Luxleaks' files, which ...

The role of tax incentives in corporate taxation

Εν συντομία 30-06-2022

While business tax incentives are used widely, concerns have been raised in recent years regarding their effectiveness, their impact on public finances and whether they could potentially distort the EU single market. With important innovation challenges ahead relating to the green and digital twin transition, tax incentives are increasingly being used to boost investment in the area of research and development.