The EU’s ‘overreach’ on state aid has rankled the US tax authority, as Michael Lebovitz (White & Case) reports.
Michael Anderson and Katy Howard (Joseph Hage Aaronson) review the decision in Scotch Whisky, which provides helpful guidance on how a national court should apply the proportionality test in an EU law context.
The Department for Business, Innovation & Skills is consulting until 15 April 2016 on transposing the requirements of the EU non-financial reporting directive into the UK’s reporting framework. The directive applies to large public-interest entities with more than 500 employees.
A report commissioned by the Greens/EFA group in the European Parliament warns that the Commission’s corporate tax package published in January will not be effective in addressing tax avoidance structures used by IKEA among others, which involve shifting royalty payments to a conduit subsidiary i
The European Commission has proposed extending for a further year, until 3 January 2018, the deadline to comply with the revised Markets in Financial Instruments Directive (MiFID II).
The European Commission has published a paper reviewing the most recent economic literature on the effects of financial transaction taxes. It explains the 2011 and 2013 proposals for introducing a FTT in the EU and the continuing discussions on its design.
The European Commission has launched a public consultation seeking views until 10 May 2016 on how the current double taxation dispute resolution mechanisms operate and how they can be improved.
Changes are being made to the International Tax Compliance Regulations, SI 2015/878, with effect from 6 April 2016, creating an obligation on financial institutions to tell their clients:
· that HMRC will soon be getting data on overseas financial accounts;