The EU Commission has adopted an amendment to Implementing Regulation (EU) 2020/194 as regards the exchange of records held by taxable persons or their intermediaries and the designation of competent authorities responsible for coordinating administrative enquiries. The amendments, which concern rules for the exchange of records...
Fiscal receipts will no longer be required to be issued in respect of supplies of goods and services which take place outside of Malta. This results from the new item 2B to the Thirteenth Schedule to the VAT Act introduced in LN 241 of 2021 which...
This week's edition of the CFE Tax Top 5 looks at the following: G7 Reach Historic Minimum Global Corporate Taxation Rate Agreement EU Council & Parliament Reach Provisional Compromise on CbCR Public Disclosure EU Launch Consultation on Fighting the Use of Shell Entities for Tax...
At their meeting of 5 - 6 June, Finance Ministers and Central Bank Governors of the G7 confirmed their support of the efforts underway through the G20/OECD Inclusive Framework to address the tax challenges arising from globalisation and the digitalisation of the economy and of the...
The European Commission has launched a public consultation on fighting the use of shell entities for tax purposes. The consultation closes on 27 August 2021. HAVE YOUR SAY - Click here to submit your feedback....
A provisional political agreement has been reached on the proposed directive on the disclosure of income tax information by certain undertakings and branches (the public country-by-country reporting - CBCR - directive). The agreed text requires multinational enterprises or standalone undertakings with a total consolidated revenue of...
The changes to the VAT rules for e-commerce enter into effect on 1 July 2021. They include a new One Stop Shop, a new Import One Stop Shop, new rules for Distance Sales of goods, and other changes. Are you up to date on the...
Up until 31 December 2021, authorised UK importers have the possibility to defer their import formalities for up to 175 days from the date of entry of non-controlled EU goods into the UK. source: ec.europa.eu...
On 18 May 2021 the Commission published a recommendation on the tax treatment of losses during the COVID-19 crisis. The commission is recommending that Member States should allow loss carry back for businesses to at least the previous fiscal year, i.e. at least 2019, and...
