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...

CFE Tax Top 5 (5 December 2022)

This week's edition of the CFE Tax Top 5 looks at the following: EU Seeks to Define Aggressive Tax Planning ECJ Rules Public Access to Beneficial Ownership Registry Information Invalid Hungary Continues to Oppose Minimum Tax at EU Level OECD Publishes Updated Mutual Agreement Procedure...

VAT in the Digital Age Proposal

The anticipated proposal for legislative developments addressing VAT in the Digital Age was published on 8 December 2022. The VIDA package puts forward measures for addressing: real-time reporting of intra-EU transactions the rules for passenger transport and accommodation platforms single VAT registration in the EU The proposed...

CFE Tax Top 5 (28 November)

This week's edition of the CFE Tax Top 5 looks at the following: ECJ Rules Public Access to Beneficial Ownership Registry Information Invalid – Joined Cases C-37/20 & C-601/20 G20 Summit Leaders’ Declaration on OECD’s Two-Pillar Solution EU Commission Publishes Customs 2020 Evaluation Report OECD...

Rules for setting off of tax arrears revised

The Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules, which were introduced in 2021 (See MIT News 10 November 2021) have been revised by LN 311 of 2022 amending Rule 4 to permit the transfer of tax arrears between related companies and between...