29 may 2017 1.ECOFIN reaches agreement on Directive to improve Dispute Resolution Mechanisms As a meeting of the Council of the European Union (ECOFIN) on 23 May 2017 European finance ministers agreed on a final text for the proposed Directive on Double Taxation Dispute Resolution Mechanisms (the “Proposed Directive”). The proposal seeks to improve the […]

22 May 2017 1.ECOFIN Meeting expected to agree proposed Directive on Dispute Resolution Mechanism The next ECOFIN meeting of European Finance ministers will take place in Brussels on Tuesday 23 May. The top priority will be finalising the work done in the area of dispute resolution with, agreement anticipated on the proposal for Directive on […]

15 May 2017 1. CJEU rules Luxembourg legislation regarding the application of the VAT cost-sharing exemption is too broad in Case C-274/15 The CJEU has held that Luxembourg’s implementation of the VAT exemption for supplies involving cost sharing groups (CSGs) and their members is incompatible with the VAT Directive (2006/112/EC). The following aspects of the […]

08 May 2017 1. Commissioner Moscovici confirms details of upcoming EU proposal on ‘intermediaries’ The European Parliament “PANA” Committee of Inquiry held on Thursday 4 May a public hearing with Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs Union. EU Commissioner Moscovici discussed the details of the upcoming EU legislative proposal […]

1. OECD VAT Global Forum meeting – VAT/GST Guidelines released The week before Easter representatives of governments, international organisations, academia and the business community attended the OECD Global VAT Forum, held in Paris on 12 -14 April. The OECD Global Forum VAT meeting was an opportunity for representatives from around the world to touch base […]

1. OECD issues guidance on BEPS Action 13 (Country-by-Country Reporting) The OECD issued guidance on the interpretation and application of the Country-by-Country reporting model legislation of October 2016 BEPS Action Point 13 Final Report. The guidance aims to facilitate the implementation of the Country-by-Country reporting standard into national legislation, and to help jurisdictions in introducing […]

1. European Commission publishes report on tax uncertainty On 7 April 2017 the European Commission published a report on tax certainty entitled “Tax uncertainty: Economic Evidence & Policy Responses”. The Report comes at a time when tax uncertainty is gaining increasing prevalence on the international stage, with it being a priority of the G20 and […]

1. EU Commission launches public consultation on harmonising and simplifying the general arrangements for customs rules Based on the results of two external evaluation studies carried out in 2014 and 2016 of Council Directive 2008/118/EC the Commission believes there may be scope to improve the functioning of the directive, particularly in relation to the reduction […]