EU Council formally adopts Directive on global minimum tax

In its final step in the legislative process, the EU Council has formally adopted a directive on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (Pillar 2). Source: consilium.europa.eu...

CFE Tax Top 5 (12 December 2022)

This week's edition of the CFE Tax Top 5 looks at the following: ECJ: Certain Elements of DAC6 Incompatible with Primary EU Law EU Proposes DAC8 Directive: Crypto-Assets Reporting VAT in the Digital Age Proposals Published OECD Invites Input on Amount B (Pillar 1) CFE...

OECD Consultation on Pillar 1 (Amount B)

The OECD has launched a public consultation on on the main design elements of Amount B under Pillar One in the context of the ongoing work of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) to implement the Two-Pillar Solution to Address the Tax Challenges Arising...

Agreement on minimum taxation of multinationals

The Czech Presidency of the EU has announced the unanimous agreement of the Member States to approve the Commission's proposal for a Directive ensuring a minimum effective tax rate for large multinational groups. The proposed Directive will be formally adopted by written procedure.   source: ec.europa.eu...

Commission proposes exchange of information on Crypto-assets (DAC 8)

On 8 December 2022 the European Commission  proposed new amendments to the Directive on Administrative Cooperation to include exchange of information on crypto-assets (DAC8). The proposed revised Directive contains rules for reporting and exchange of information on crypto-assets for direct tax purposes applicable to service providers facilitating...

2022 – The Year in Review

On 1 December 2022, the MIT hosted an online event for Members - 2022: the Year in Review, during which representatives from the MIT's technical committees, Sarah Cassar Torregiani and Steve Gingell, took participants through the tax legislative highlights of 2022 and the work of...