EU: European Court of Auditors issue report on ATAD, DAC6, TDRD
The European Court of Auditors released a report, “Combating Harmful Tax Regimes and Corporate Tax Avoidance” on 28 November 2024. The report evaluates the effectiveness of measures and strategies implemented by the European Commission (EC)
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EU approves e-tax certificate for VAT exemptions
The Council of the EU has announced that a political agreement has been reached regarding a new directive paving the way for the introduction of an electronic tax certificate for VAT exemptions on 10 December 2024. "As part of the EU's efforts to
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EU adopts new withholding tax rules (FASTER)
The Council of the EU has announced on 10 December 2024 that it adopted the FASTER Directive for establishing safer and faster procedures to obtain double taxation relief that will encourage cross-border investment and help fight tax fraud. The
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European Commission issues final rules for CbC reporting directive
The European Commission has published the final version of the Commission Implementing Regulation (EU) 2024/2952 of 29 November 2024 in the Official Journal of the EU on 2 December 2024. This document establishes a common template and electronic
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European Commission clarifies VAT rules for small business scheme
The European Commission has released its Explanatory Notes detailing the upcoming changes to the EU VAT system concerning the special scheme for small enterprises. These changes stem from amendments made by the Amending Directive to the VAT
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European Commission applauds Greece’s pledge to align tonnage tax with state aid rules
The European Commission in a release on 25 November 2024 announced that the acceptance by Greece of the appropriate measures proposed by the Commission to bring the existing Greek tonnage tax scheme and related measures in line with State aid
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European Commission develops standard forms, formats for DAC7 compliance
The European Commission announced its plans to draft an implementing regulation featuring standard forms and digital formats on 18 November 2024. These tools will be related to the Amending Directive of the 2011 Directive on Administrative
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EU releases updated public CbC reporting forms
The European Commission (EC) published a revised regulation that provides the common template and electronic reporting formats for the EU public country-by-country (CbC) reporting directive on 21 October 2024. This follows after the conclusion of
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EU: European Parliament backs FASTER initiative
The European Parliament's plenary session adopted its opinion on 14 November 2024 after a consultation on the proposed Council Directive for the Faster and Safer Relief of Excess Withholding Taxes (FASTER). The opinion endorses the compromise
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EU: Public prosecutor probes EUR 520M VAT fraud linked to mafia networks across nations
The European Public Prosecutor's Office (EPPO) has announced, on 14 November 2024, that it launched an investigation into a EUR 520 million VAT fraud orchestrated by multiple mafia groups operating in various EU and non-EU countries. The
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EU issues new guidance on VAT for small businesses
European Commission, on 11 November 2024, released the Guide to the SME scheme and explanatory notes for the updated Small Enterprise Scheme (SME scheme), which will take effect on 1 January 2025. This guide aims to provide a better understanding
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European Commission launches anti-dumping probe on Chinese choline chloride
The European Commission issued the Notice of initiation of an anti-dumping proceeding concerning imports of choline chloride originating in the People's Republic of China in the Official Journal of the European Union (OJEU) on 31 October
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European Commission launches upgraded online services for customs
The European Commission has introduced new and enhanced online services for customs on 22 October 2024. These services include the New Computerised Transit System (NCTS), the Automated Export System (AES), and the Proof of Union Status System
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European Commission adopts DAC9 proposal to ease company filing under Pillar Two Directive
The European Commission has announced it adopted a proposal to amend the Directive on administrative cooperation in the field of taxation (Directive 2011/16/EU – DAC) on 28 October 2024. The goal is to make it easier for companies to fulfil
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European Commission approves Danish State Aid for greenhouse gas tax cuts
The European Commission announced it approved, under EU State aid rules, a EUR 724 million (DKK 5.4 billion) Danish scheme to lower the rate of new greenhouse gas (GHG) emissions tax for certain companies. The scheme offers a reduced tax rate for
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European Union publishes minutes of VAT Expert Group’s 36th meetingÂ
The European Commission released the minutes of the 36th meeting of the VAT Expert Group (VEG) on 14 October 2024. The VEG held its 36th meeting on 6 June 2024, According to the minutes, the following points were addressed: VAT after VAT in
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European Commission updates draft rules for public CbC reporting template, digital formats
The European Commission has released a revised draft of the Commission Implementing Regulation, establishing a standardised template and electronic reporting formats for Public Country-by-Country (CbC) reporting within the EU. This initiative
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European Commission releases revised list of non-cooperative tax jurisdictions, removes Antigua and BarbudaÂ
The European Commission (EC) announced that European Union (EU) member states have updated the list of non-cooperative tax jurisdictions. The update confirmed that Antigua and Barbuda have been removed from Annex I (the blacklist), while Armenia and
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