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On December 22, 2022 on the website of the Court of Justice of the European Union (CJEU) the judgment of the CJEU in Case C-656/21, IM Gestão de Ativos (IMGA) – Sociedade Gestora de Organismos de Investimento Coletivo SA & others versus Autoridade Tributária e Aduaneira, ECLI:EU:C:2022:1024, was published.
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On December 20, 2022 the OECD opened a public consultation on the withdrawal of digital service taxes and other relevant similar measures under Pillar One and released an implementation package for Pillar Two. It should be noted however, that also the implementation package for Pillar Two that was released on December 20, 2022 contains 2 consultation documents. In total the OECD therefore released 3 consultation documents on December 20, 2022 and 1 guidance document.
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On December 6, 2022 the important Policy Decree hybrid entity provisions was published in the Dutch State Gazette. The Decree regards the Dutch dividend withholding tax Act, the Dutch withholding tax Act 2021 and the explanation of the hybrid entity provisions.
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The last days the status regarding the Council Directive on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (Council Directive to implement Pillar 2 in the EU) was moving in a fast pace in both directions. So fast it was hard to keep track.
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Late in the evening of December 12, 2022 on the website of the Council of the European Union a press release was published stating that that the Committee of Permanent Representatives reached the required unanimous support and that the ambassadors of EU member states decided to advise the Council to adopt the Pillar 2 Directive.
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It was a long wait, but finally late in the evening of December 12, 2022 there was white smoke coming from the Council of the European Union regarding the implementation of Pillar 2 at an EU level. Pillar 2 arranges for a minimum level of taxation (15%) for large corporations.
Read more: EU member states have reached an agreement to implement Pillar 2 at an EU level
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On May 26, 2022 the Irish Government opened a public consultation on the implementation of Pillar Two (the introduction of a 15% minimum Effective Tax Rate). Through this consultation the Irish Ministry of Finance was seeking for stakeholder views on the implementation of the Pillar Two Minimum Tax Rate proposal in Ireland. The consultation period ran until July 22, 2022.
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On December 8, 2022 on the website of the Court of Justice of the European Union (CJEU) the judgment of the CJEU in Cases C-247/21, Luxury Trust Automobil GmbH versus Finanzamt Österreich, ECLI:EU:C:2022:966 was published. The judgment shows the importance of using the correct and proper wording on invoices in order to avoid VAT-problems.
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On December 8, 2022 the OECD opened a public consultation in which it invites the public to provide input on the design elements of Amount B under Pillar One relating to the simplification of transfer pricing rules. The consultation period runs from December 8, 2022 util January 25, 2023.
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On December 8, 2022 the Court of Justice of the European Union (CJEU) ruled in Case C-694/20, Orde van Vlaamse Balies and Others ECLI:EU:C:2022:963. The judgment is very interesting for lawyers bound by legal professional privilege (eg notaries, external lawyers drafting/reviewing the necessary documents, external lawyers advising on legal consequences, etc.) that are involved in tax planning in potentially aggressive cross-border tax-planning (arrangements which could lead to tax avoidance and evasion). In its judgment the CJEU ruled that in such situations the obligation for a lawyer to inform other intermediaries involved is not necessary and infringes the right to respect for communications with his or her client, since all the other intermediaries involved in such planning, and the taxpayer him- or herself, are subject to that reporting obligation, which makes it possible to ensure that the tax authorities are informed.
Read more: Combatting aggressive tax planning - CJEU: “The obligation for a lawyer bound by legal...
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