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International review for November 2022

Speed read
The European Commission has published a call for evidence on the proposal to implement a new EU wide corporate tax system. Whether it will succeed where similar initiatives have stalled remains to be seen. In a decision worth €30m in tax, the CJEU has ruled in favour of Fiat Chrysler that a Luxembourg transfer pricing ruling did not breach EU state aid rules. The Australian government has announced its Federal Budget for 2022-23 with a number of noteworthy measures for multinationals. Hungary and Germany have published draft domestic legislation to implement EU public country-by-country reporting. The ECOFIN Council has agreed on a revision of the code of conduct for business taxation. Finally, Australia, the Netherlands and Germany have taken further steps to implement Pillar Two locally.

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