Pierre-Antoine Klethi’s Post

On 14 May 2024, the Council of the EU reached a political agreement on a compromise text of the FASTER Directive. The FASTER Directive intends to significantly improve efficiency and legal certainty in certain withholding tax relief procedures in EU capital markets. The compromise text is now ready for re-consultation with the European Parliament and afterwards for final adoption in the Council. Once formally adopted, Member states would have to implement the FASTER Directive by 31 December 2028 and apply its provisions as from 1 January 2030. Read more: https://lawand.tax/4bkz4DI If you have any questions, please do not hesitate to contact one of our experts: Imme Kam, Dennis Tol, Pierre-Antoine Klethi or Ruben van der Wilt. #council #EU #EuropeanParliament #capitalmarkets #FASTER #tax #lawandtax

I always wondered why VAT law on input VAT in Nigeria is so restrictive with claims limited to the tax on goods purchased or imported directly for resale and goods which form part of stock in trade et al. However, this article from ITR (International Tax Review) highlights some nuances that come with Input VAT where the restriction isn't as streamlined. In this case, a Swedish Company has incurred mixed costs from both VATable and VAT exempt goods and services. The taxpayer now has to explore the option of using turnover basis or usage basis to apportion input VAT claimable. Interesting concept but it leaves a lot of room for tax dispute. In any case, I still hold out hope that Nigeria will consider expanding the input VAT claimable incountry to services. We are largely a service driven economy and with the continued increase in VAT rate which is still speculated to go up to 15% in the future to meet Africa's average, more input VAT claims will be a welcome idea to boost the ease of doing business in Nigeria

A new precedent for VAT apportionment in Sweden http://spr.ly/6042qTDyK Marie Hedin and Pontus Fornell of KPMG Sweden say a Swedish Supreme Administrative Court ruling reshapes VAT apportionment for mixed-use businesses and increases EU alignment, but subsequent Swedish Tax Agency guidance complicates the picture #internationaltaxreview #tax #taxpolicy #internationaltax #swedishtax #kpmgsweden #vat

💥 Catch our latest #tax update of the season! Here's what you need to know: 👉 Ursula von der Leyen’s second term begins, with administrative burden reduction high on the agenda 👉 New European Parliament opinion on VAT in the digital age needed 👉 Australian senate passes public tax transparency law 👉 European Commission publishes template for EU public country by country reporting (CBCR) framework ... and much more! 💡 Want to read more? Head over to our website now: https://lnkd.in/dZfs9kgZ. #BurdenReduction #ViDA #EuropeanCommission #ECON #Taxation Johan Barros

📢 New Publication: As TUSEV, we have published the series "Tax Regulations Concerning Civil Society" withing the scope of the EU funded project "Monitoring of Freedom of Association". This series of three publications is based on detailed research on tax regulations affecting CSOs in Türkiye. The publications include comparative analyses with examples from different countries and proposals for reform. Read here 👉 https://lnkd.in/du4j4k-Z

ATOZ Insights... Focus on the EU Commission's initiatives in Direct Tax matters 💡 At EU level, the ongoing direct tax initiatives in the pipeline of the European Commission have not evolved that much over the past few months. Except for the “FASTER” proposal for which the Council has recently reached an agreement (general approach) on new rules for withholding tax procedures, the outcome of most of the directive proposals on the table is uncertain (i.e. the “BEFIT package” as well as the “Unshell”, “SAFE” and “DEBRA” initiatives). In this article, Managing Partner, Keith O'Donnell, and Chief Knowledge Officer, Marie Bentley, provide an overview of the state of play on each of the proposals as well as of the text on the Pillar One multilateral convention. https://lnkd.in/eRDqQKC5 #atozinsights #ICTS #internationaltax #directtax

After over two decades of extensive reports and recommendations from both the OECD and the European Commission regarding the enhancement of withholding tax procedures, today witnessed the European Union's ECOFIN endorsing the withholding tax Directive, dubbed as FASTER. With a focus on enhancing the functionality of the Capital Markets Union and ensuring equitable taxation while preventing fraud, this Directive is poised to significantly impact financial intermediaries and investors alike. However, navigating through the complexities of the Directive poses numerous questions that must be addressed in the interim period before its implementation in 2030. The subsequent steps entail the completion of legal procedures, including consultations with the European Parliament, and the publication of the Directive in the Official Journal. Feel free to reach out if you’d like to discuss how this directive could affect your business. #faster #withholding #tax

ICYMI last week: The American Free Enterprise Chamber of Commerce, a US business group with ties to former Trump admin Attorney General *Bill Barr*, filed a legal challenge to Belgium's global minimum tax law. The goal, according to the group, is to invalidate the global minimum tax rules in the EU altogether. “AmFree’s objective is to obtain a ruling from the Court of Justice that Pillar II is unlawful which will affect Pillar II in the EU as a whole and, as a practical effect, make it unenforceable in all European Union Member States,” the group said in its statement. Read more from me in the link below: #InternationalTax #OECD #GlobalMinimumTax #PillarTwo #CorporateTax #EuropeanUnion #Belgium #BillBarr #UScompanies #CrossBorderTaxation https://lnkd.in/eusJ8RwU

The TaxProf: Harpaz: Can U.N. Framework Tax Convention Bridge The North-South Divide?: Assaf Harpaz (Georgia; Google Scholar), The U.N. Framework Tax Convention: Can It Bridge the North-South Divide?, 115 Tax Notes Int’l 1779 (Sept. 16, 2024): The United Nations recently concluded the second session of negotiations on terms of reference for a framework convention on international tax cooperation. The framework convention presents... http://dlvr.it/TFM7m5 @SoCalTaxProf #Tax #Policy #Law

🗨️ “Harmful #tax regimes and corporate #TaxAvoidance pose major challenges to ensuring that taxes are paid where profits are made. Using its narrow powers in this field, the European Commission should plug existing gaps, develop its guidance for EU countries so as to ensure a united front against harmful tax practices, and accelerate a common performance monitoring system”. - Ildikó Gáll-Pelcz, Member of the European Court of Auditors 🔗 Read the full report 👇 https://lnkd.in/e2mz7urP