Debt-equity bias reduction allowance (DEBRA)

The European Commission has published an inception impact assessment on the initiative to reduce the debt- equity tax bias in the EU. This initiative, which was announced as part of the corporate tax reform proposal in the recent Communication for Business Taxation of the 21 Century (See MIT...

VAT e-commerce rules – amendment to Implementing Regulation

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...

VAT – new exemptions from issuing fiscal receipts

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...

CFE Tax Top 5 (7 June 2021)

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...

G7 Finance Ministers’ agreement on minimum global tax rate

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...

Provisional agreement on CbCR public disclosure of income tax information

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...

VAT e-commerce rules: countdown to 1 July 2021

 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...

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