Tax

29 Apr 2021

The Implementation of the Act on Determining the Origin of Property and Special Tax Has Started

I. Introductory Remarks The application of the Act on Determining the Origin of Property and Special Tax (“Act”) started on March 12, 2021. Since the introduction of the bill, the Act has attracted a lot of attention, both from the professional public and others, not only because of the subject of regulation, but also because of its legal solutions.  The Act came into force at the start of 2020, but its implementation was postponed for a year.  In that period, amid criticism, some amendments were added to the Act, just before the start of its implementation. It is noticeable that […]

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24 Apr 2020

Taxation: revised EU list of non-cooperative jurisdictions

The Economic and Financial Affairs Council (“the Council”) on 18 February 2020 adopted revised conclusions on the EU list of non-cooperative jurisdictions for tax purposes (“the EU list”).  The EU list (Annex I) includes non-EU countries or territories which had not made sufficient commitments in response to the EU‘s concerns about taxation arrangements.  The State of play section (Annex II) lists the jurisdictions which had responded with sufficient commitments.  Therefore, the jurisdictions that do not yet comply with all international tax standards but have committed to reforms are included in Annex II.  These countries need to take effective actions to […]

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02 Sep 2016

EU State Aid: Commission Goes After the Forbidden Fruit

“The European Commission has concluded that Ireland granted undue tax benefits of up to €13 billion to Apple [the biggest tax bill ever imposed outside the US]. This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid [indirect subsidies].“1 Following an in-depth state aid investigation of the “sweetheart fiscal deal” between Ireland and Apple, the European Commission has concluded that Apple received illegal tax benefits from Ireland through a favorable tax arrangement selectively provided to this company for a number of consecutive years. […]

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