As we already reported on December 22, 2021 on that same date the European Commission released a proposal for a Council Directive laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU.
Also on December 22, 2021 the European Commission released a proposal for a Council Directive on ensuring a global minimum level of taxation for multinational groups in the Union (Implementation of Pillar-Two).
And lastly also on December 22, 2021 the European Commission proposed to establish the next generation of own resources for the EU budget by putting forward three new sources of revenue: the first based on revenues from emissions trading (ETS), the second drawing on the resources generated by the proposed EU carbon border adjustment mechanism, and the third based on the share of residual profits from multinationals that will be re-allocated to EU Member States under the recent OECD/G20 agreement on a re-allocation of taxing rights (“Pillar One”).
On December 23, 2021 the European Commission opened public consultations with respect to each of 3 the aforementioned proposals. All three consultations will run until February 21, 2022 (midnight Brussels time). It should be noted that for being able to provide input, one has to register itself on the website of the European Commission.
More information with respect to the public consultation regarding the European Commission’s proposal for a Council Directive laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU can be found here.
More information with respect to the public consultation regarding the European Commission’s proposal for a Council Directive on ensuring a global minimum level of taxation for multinational groups in the Union (Implementation of Pillar-Two) can be found here.
More information with respect to the public consultation regarding the European Commission’s proposal to establish the next generation of own resources for the EU budget by putting forward three new sources of revenue can be found here.
Copyright – internationaltaxplaza.info
