A bit like the British weather in April, this month’s update is a diverse mix. Further guidance has been released on the new US 1% excise tax on repurchases of corporate stock. Yet another Advocate General opinion has concluded that an EC finding of state aid be overturned, this time in the UK Finco case. The European Parliament has adopted an opinion on the FASTER Directive, recommending various amendments. The EC has issued a Communication inviting consideration of Qualified Majority Voting in EU tax matters. Efforts to enhance public tax reporting transparency in Australia continue, with the legislation for the new public disclosure of tax residency requirements receiving royal assent. Finally, Pillar Two implementation continues to progress across the globe.
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A bit like the British weather in April, this month’s update is a diverse mix. Further guidance has been released on the new US 1% excise tax on repurchases of corporate stock. Yet another Advocate General opinion has concluded that an EC finding of state aid be overturned, this time in the UK Finco case. The European Parliament has adopted an opinion on the FASTER Directive, recommending various amendments. The EC has issued a Communication inviting consideration of Qualified Majority Voting in EU tax matters. Efforts to enhance public tax reporting transparency in Australia continue, with the legislation for the new public disclosure of tax residency requirements receiving royal assent. Finally, Pillar Two implementation continues to progress across the globe.
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