News Europe
The Netherlands Launches Consultation On Implementation of Fifth Anti-Money Laundering Directive
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December 13th, 2018
The Dutch Ministry of Finance announced, by way of a press release, that it had launched a public (internet) consultation on draft legislation implementing Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (the Fifth AMLD).
The Highlight of the Directive .
The Netherlands Launches Consultation On Implementation of Fifth Anti-Money Laundering Directive
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December 13th, 2018
The Dutch Ministry of Finance announced, by way of a press release, that it had launched a public (internet) consultation on draft legislation implementing Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (the Fifth AMLD ).
The Highlight of the Directive .
Switzerland Initiates Consultation On Introduction Of Automatic Exchange Of Information With 18 Further States
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December 11th, 2018
The Swiss Federal Council announced the launch of a public consultation on the introduction of the automatic exchange of financial account information (AEOI) with 18 further states and territories. By expanding its AEOI network accordingly, Switzerland is underlining that it is implementing its international obligations, as OECD requires that individual states and territories complement their AEOI network with all partner states that have an interest in the AEOI.
ECOFIN Fails to Reach Agreement on EU Digital Services, France and German Propose New Bill
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December 6th, 2018
Despite hopes that agreement could be reached on the EU's proposed digital services tax (DST) before the end of the year, a compromise proposal that was put forward during the 4 December meeting of the Economic and Financial Affairs Council, did not gain the necessary support and was not discussed in detail. Amidst the failure in reaching the agreement on DST, France and German proposed new stripped-down version of digital services tax.
Ireland And Malta Reach An Agreement To Prevent 'Single Malt' Structure
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November 30th, 2018
Ireland's Department of Finance has announced the signing of a competent authority agreement between the Revenue Commissioners and the Maltese tax authority to prevent ‘Single Malt’ structures. This Agreement will ensure that the Treaty does not enable that aggressive structure.
EU Tax Committee Presents First Draft Report On Tax Avoidance And Evasion
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November 30th, 2018
The EU tax committee has presented the report on tax avoidance and evasion. The report, which was drafted on November 14, contains numerous proposals and recommendations to EU Member States and the European Commission to help them face the challenges linked to tax fraud and financial crime such as money laundering.
The Netherlands Announces Stricter Requirement For International Tax Ruling
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November 27th, 2018
The Dutch Ministry of Finance has announced that from 1 July 2019, stricter requirements will be put in place for the issuance of advance tax rulings with an international character. The proposal aims to prevent the Netherlands from being used as a conduit to tax havens where a company with undesired international structures (e.
Money Laundering In EU Banks - In The Spotlight Of Special Tax Committee
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November 22nd, 2018
In light of the recent serious allegations of money laundering involving some EU financial institutions, particularly Danske Bank and ING Groep, the TAX3 Committee has decided to hold a hearing on money laundering in banks on 21 November 2018 with a view to improving the financial supervisory system.
Money Laundering Scandal in EU Banks .
Brexit And Its Impact On Businesses
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November 22nd, 2018
The Brexit will continue anyway on 29 March 2019. But what will the treaty look like? Will it be a 'hard' Brexit, a 'soft' Brexit or 'No Deal'? Certain effects are already noticeable in the Netherlands, the Brexit can hit any business.
France Amends Its 2019 Budget Bill To Reduce Capital Gain Tax On Cryptocurrencies
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November 20th, 2018
The National Assembly of France has passed a bill to lower the capital gains tax on cryptocurrency profits as part of 2019 budget bill. The proposed bill aims to establish France as a major cryptocurrency hub with an attractive and comprehensive framework in taxation.
Germany Explores GLOBE Proposal To Tax Digital Economy
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November 15th, 2018
German Finance Minister, Olaf Scholz, endorsed the global anti-base-erosion (GLOBE) proposal, which includes a tax on base-eroding outbound payments, as a long-term approach to tax the digital economy.
The GLOBE Proposal .
Spanish Clothing Giant Drops Irish Unit Linked to Aggressive Tax Policy
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November 15th, 2018
Inditex, the company that operates Zara and several other clothing stores is closing an Irish subsidiary that has been criticized for its role in allowing the group to pay less tax elsewhere in Europe. The company made a request to be voluntarily taken off the register to Ireland’s Companies Registration Office.
The Netherlands Amends Decree On The Silent Return Arrangement Of A Private Limited Liability (BV or NV)
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November 13th, 2018
Decree No. 2018/99281 of 2 October 2018 on the tax-neutral return from a private limited liability (BV) or public (NV) company to a business undertaken in unincorporated form was published in Official Gazette No. 62988.
Background .
Netherlands To Introduce Withholding Tax On Royalties And Interest To Tackle 22 Billion Euros Tax Avoidance
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November 8th, 2018
The Dutch Amsterdam Research Bureau SEO, commissioned by the Dutch Ministry of Finance, released a report regarding capital flows through the Netherlands. The report revealed that multinationals moved some €22bn in royalties and interest through the Netherlands in 2016 to avoid tax.
ECOFIN - Italy And Germany Compromise Digital Services Tax
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November 8th, 2018
The European Economic and Financial Affairs Council (ECOFIN) met to discuss various issues, including the European Commission's proposed digital services tax.
DST Key Issues .
Malta Introduces Income Tax Treatment Guideline On Scope of Digital Ledger Technology
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November 6th, 2018
The Maltese Commissioner for Revenue has issued three sets of guidelines on transactions involving DLT, which includes the income tax treatment guideline.
Scope of Digital Ledger Technology (DLT) .
Finland Broadens The Scope Of CFC Under The Amended CFC Rules
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November 6th, 2018
Finland submitted the amendment of controlled foreign company (CFC) rules to the Finnish legislation. The proposal, which amends the CFC Law (Laki ulkomaisten väliyhteisöjen osakkaiden verotuksesta), will apply from 1 January 2019.
UK Takes Lead In Digital Tax (DST) But Diverts From EU Plan
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November 1st, 2018
The UK government remains committed to reform of the international corporate tax framework for digital businesses. The OECD and G20 did not reach global consensus yet, therefore on 29 October, UK took the initiative to introduce a two percent digital services tax (DST).
UK Budget 2018 Delivered To Parliament - Several Tax Measures Including Digital Services Tax
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October 30th, 2018
UK Chancellor of the Exchequer Philip Hammond delivered the Budget 2018 to Parliament. The Budget introduced measures to reaffirm the UK’s international competitiveness, including a new measure to impose digital service tax for certain digital activities.
Dutch Government Proposes Anti-Hybrid Rules To Comply With EU's ATAD2
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October 30th, 2018
The Dutch government published a preliminary proposal implementing rules on hybrid mismatches as required under the amended EU Anti-Tax Avoidance Directive (ATAD2). The implementation of ATAD2 in the Dutch legislation will lead to changes in the 1969 Corporate Income Tax Act.

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