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 meeting
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 Barbuda
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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European Commission drops infringement case against Cyprus and Romania over cross-border payment rules
The European Commission announced it closed the infringement procedures against Cyprus (INFR(2024) 0016) and Romania (INFR(2024) 0122) for failing to transpose the Amending Directive to the VAT Directive (2020/284) on 3 October 2024. This
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European Commission ends infringement case against Germany, Hungary over DAC7 information exchange
The European Commission has announced the conclusion of the infringement procedure against Germany and Hungary for their failure to comply with the obligation to automatically exchange information as mandated by the Amending Directive to the 2011
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European Commission launches expiry review of anti-dumping duties on import of Chinese ironing boards
The European Commission published the Notice of initiation of an expiry review of the anti-dumping measures applicable to imports of ironing boards originating in the People's Republic of China (the Notice) in the Official Journal of the European
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European Commission urges Hungary to scrap retail tax
The European Commission announced that it decided to initiate an infringement procedure against Hungary on 3 October 2024, urging the country to eliminate its retail tax regime which is deemed non-compliant with the freedom of establishment. The
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European Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive
The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of
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European Commission to end anti-subsidy measures on woven, glass fibre fabrics imports from China, Egypt
The European Commission (EC) issued the Notice of the impending expiry of certain anti-subsidy measures in the Official Journal of the European Union (OJEU) on 17 September 2024 concerning the woven and stitched glass fibre fabrics imports from
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EU executive vice president for transfer pricing bill progress
In a press conference on 10 September 2024, Margrethe Vestager, the Executive Vice President of the European Commission, urged EU countries to develop proposals to reform transfer pricing and tackle the issue of shell companies after expressing her
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European Commission launches anti-dumping probe on Chinese steel track shoe imports
The European Commission is set to launch an anti-dumping investigation into steel track shoe imports from China. The Notice of initiation of an anti-dumping proceeding concerning imports of steel track shoes originating in the People's Republic of
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EU Commission consults CbCR template, electronic formats
The European Commission (EC) initiated a public consultation regarding draft legislation for a common template and electronic formats for public country-by-country (CbC) reports on 1 August 2024. Large multinational corporations operating in the
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European Commission ends probe into Hungary advertisement tax
The European Commission announced in a report on 26 July 2024 that it closed its in-depth investigation, which opened in March 2015, into the Hungarian advertisement tax. In November 2016, the Commission found that the Hungarian advertisement
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European Commission publishes 2024 Annual Report on Taxation
The European Commission unveiled the 2024 Annual Report on Taxation on 3 July 2024; the 2024 edition provides an update on the state of tax systems in the European Union's member states. It aims to inform the debate about: The developments
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WTO Trade Policy Review of EU
The WTO is reviewing the trade policies and practices of the EU on 5 and 7 June 2023. The WTO Secretariat has produced a report as a basis for the review. During the period under review the EU made progress on major policy initiatives including
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EU: European Commission Announces Proposals for Customs Reform
On 17 May 2023 the European Commission set out proposals for a reform of the EU Customs Union. The proposals are a response to the large increase in the volume of trade in recent years, the growth in e-commerce and the need to enforce EU trading
See MoreEU: European Commission Proposes Tax Allowance for Equity
On 11 May 2022 the European Commission put forward proposals for a tax allowance that would reduce the current tax advantage for debt over equity. This allowance would be designed to encourage businesses to access more equity financing and reduce
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