Following the announcement in the EC’s Communication on business taxation for the 21st century (reported in Tax Journal, 21 May 2021), the European Commission has now launched a new public consultation on tax avoidance and the use of shell entities. While there have been several EU initiatives to curb the use of abusive and aggressive tax structures by companies operating across borders, there are no EU legislative measures that define substance requirements for tax purposes to be met by entities within the EU. Comments are invited by 27 August 2021.
Following the announcement in the EC’s Communication on business taxation for the 21st century (reported in Tax Journal, 21 May 2021), the European Commission has now launched a new public consultation on tax avoidance and the use of shell entities. While there have been several EU initiatives to curb the use of abusive and aggressive tax structures by companies operating across borders, there are no EU legislative measures that define substance requirements for tax purposes to be met by entities within the EU. Comments are invited by 27 August 2021.
