BRUSSELS | JULY 2021 130 Countries Sign Historic Agreement on International Tax Reform In July, 130 countries signed the global agreement on international tax reform, based on a two-pillar solution which allows multinational companies to pay more tax in the countries where they operate as well as a global minimum tax rate. As estimated by the OECD, [...]

BRUSSELS | MAY 2021 EU Sets Out New Corporate Tax Reform Proposals  The European Commission has published a new plan for corporate tax reform within the European Union, encompassing a number of short term and longer term proposals. The plan is embedded in a Communication on Business Taxation for the 21st Century. The main pillars [...]

BRUSSELS | APRIL 2021 Pascal Saint-Amans: Digital Tax Agreement by October  Speaking at a conference organised by the Government of Ireland, Pascal Saint-Amans, the OECD Tax Director confirmed the agreed timeline for reaching a global agreement on digital tax. Pascal Saint - Amans said that the G20 meeting of the finance ministers in July is still [...]

BRUSSELS | MARCH 2021 EU Commission Publishes Roadmap on Business Taxation for the 21st Century The EU Commission has published a Roadmap concerning its upcoming Communication on Business Taxation for the 21st Century, which will present the Commission’s plan for reforming EU corporate taxation to be “fit for the realities of the modern global economy”. The Roadmap [...]

BRUSSELS | FEBRUARY 2021 Agreement on Digital Tax Within Reach After US Policy 'U-Turn' The new US Secretary of Treasury Dr Janet Yellen confirmed that President Biden's administration is ready to drop the 'safe harbour' requirement, a key obstacle to an international agreement on Pillar One concerning taxation of the digital economy. At the G20 meeting [...]

BRUSSELS | DECEMBER 2020 EU Parliament Calls for Wider Scope on EU Tax Blacklist  On proposal of the Permanent Subcommittee on Tax Matters (“FISC”), European Parliament’s Economic Affairs Committee adopted a resolution calling for stricter and legally binding EU rules on non-cooperative jurisdictions for tax purposes, criticising the listing process at present as ‘lenient and confusing’. The [...]

BRUSSELS | NOVEMBER 2020 US President-Elect Joe Biden's Tax Plans In November, the United States elected the Democratic Party candidate Joe Biden as 46th President, while Kamala Harris has made history becoming the first woman elected Vice-President of the United States. After a contentious campaign, the Biden-Harris ticket won 290 Electoral College votes, thus defeating incumbent [...]

BRUSSELS | OCTOBER 2020 OECD Digital Tax Pillar 1 & 2 Blueprints Published The OECD has launched a consultation concerning blueprints for Pillar 1 (review of profit allocation and nexus rules to reflect digital business models) and Pillar 2 (global anti-base erosion rules for a minimum effective taxation rate). Details of the consultation and progress [...]

BRUSSELS | AUGUST 2020 OECD Updates COVID-19 Tax Policy Database The OECD has published an updated version of the database containing the details of taxation and financial measures taken by governments around the world in response to the COVID-19 outbreak. The OECD also has a dedicated webpage concerning the COVID-19 outbreak, providing information and [...]

Please see below Edition 07 of 2020 of CFE’s monthly publication “CFE’s Global Tax Top 10”. CFE’s Global Tax Top 10 builds on a long-standing tax technical and policy cooperation between CFE, AOTCA (Asia-Oceania Tax Consultants Association) and WAUTI (West African Union of Tax Institutes), which are the leading tax professionals’ organisations of the [...]