Tax
EU plans in the tax area
The EU has announced initiatives in the field of tax policy planned for the end of 2021 and beyond. Here is a short summary.
By the end of 2021
- Public CbC reporting to be formally approved in November
- ATAD 3 proposal focusing on shell companies is planned for the middle of December
- OECD Pillar 2 proposal should be finalised
- VAT for financial services proposal should be finalised
For the next year (during 2022):
- Debt Equity Bias Reduction Allowance (DEBRA) concept should be introduced to support equity financing
- DAC 8 proposal focused on cryptocurrencies
- OECD Pillar 1 proposal should be finalised
- VAT in the digital age (e-invoicing, reporting obligations, treatment of platforms and single EU VAT registration etc.)
- New EU WHT system
After 2023
- Replacing the current CCCTB framework by BEFIT (Business in Europe: Framework for Income Taxation)
