The European Commission announced the closure of its state aid investigations into tax rulings granted to Amazon, Fiat, and Starbucks by Luxembourg and the Netherlands. Initially, the Commission had ruled in 2015 and 2017 that these nations provided the companies with selective tax advantages that breached EU state aid rules. The allegations were part of broader efforts to address unfair tax practices within the European Union.
EU courts, however, annulled the Commission’s decisions in subsequent legal challenges, ruling that the tax arrangements did not constitute illegal state aid. As a result, the Commission concluded that the companies had not violated EU rules and formally ended the investigations.
The cases underscore the complexities of enforcing tax harmonisation across EU member states. Critics of the initial rulings argued that such cases reflect the challenges of balancing national tax sovereignty with EU-wide competition regulations. The closures may also influence future policies on corporate taxation in Europe.
Quickly making its way through the legislative process, the House of Representatives passed a bill aiming to give small-business owners much-needed certainty and relief from beneficial ownership information
The legislation for the anti-money laundering and counter-terrorism financing amendments must be finalised as soon as possible to ensure sufficient time for implementation, CA ANZ has told the government.
The US is engaging in efforts to negotiate a landmark global tax deal despite President Donald Trump’s criticism of the agreement, according to the OECD. Secretary-general Mathias Cormann told the
Family members of Malaysia’s embattled former finance minister Daim Zainuddin are beneficiaries of a multimillion-dollar trust with investments in U.K. and U.S. real estate, documents obtained by