EC launches VAT reform consultation

The EC has launched a consultation regarding reforms surrounding EU legislation governing VAT rates.

US criticises EU's strict treatment of American companies in Europe

The US Treasury has criticised the European Commission's (EC) policy of penalising American multinational companies for avoiding tax via state aid deals with individual EU member states.

Country-by-Country Reporting to be established by 2017 in all EU jurisdictions

All companies within the EU with total income of over €750m will be obligated to send all data concerning monthly revenue, profits, tax paid, earnings, all tangible assets and the total number of people employed by the company.

The EU lost $1B to fraudulent claims in 2015

Last year, figures have been released showing that approximately $1 billion of EU funds were paid out to fraudulent Claimants, with the highest number of false claims suspected coming from Hungary, Bulgaria and Romania data within Europe.

Additional 19 countries join the enhanced BO reporting requirements

HM Treasury in the UK have announced that an additional 19 countries have now joined the pilot project led by the UK with the help of France, Germany, Italy and Spain for the automatic exchange of information for all company beneficial owners.

EU Data Protection Reform Agreement Reached

Towards the year end of 2015, after lengthy negotiations, the European Parliament agreed on the final text of the data reform package.

Swiss banks under pressure to disclose client affairs

It is the first large-scale request for assistance with tax-related banking information that Switzerland has received from a country other than the United States.

EC launches public consultation to aid corporate tax transparency

The European Commission (EC) have launched a public consultation on commercial tax transparency to explore whether companies disclosing more information about the taxes they pay could help prevent tax avoidance. The consultation looks set to end on September 9th.