Posted in Tax Law

New international pact launched to end tax ‘treaty shopping’

This multilateral tax treaty sets minimum standards to avoid abuses + defines a company’s taxable presence in a country + lays out plans for settling double taxation disputes between governments.

The main hubs (NL, Singapore, Seychelles, Belgiuum and the like) have signed or are about to sign, while theabsence of the US is quite noteworthy, although good old Pascal doesn’t look too concerned.

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Posted in Privacy, Tax Law

Italian DPA Imposes Largest Ever Fine Imposed by a European Data Protection Authority: UK Payments Company Found to Have Breached Consent and Other Rules

Sigue, A UK-based company in Rome, played some tricky scheme to laundry money in China by splitting transactions across individuals whose consent was absolutely never even asked and whose data had been found “in adatabase”.

These people were not even informed of their identity “loan” and some of them had even passed away by that time (!).

This despicable hoax led to a Euro 5’580’000,00 fine (or E 10’000,00 for each individual).

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Posted in Tax Law

EU MEMBER STATES REACHED CONSENSUS ON ANTI-HYBRID MISMATCH MEASURES

An ATAD2 (anti Tax Avoidance Directive 2) has been agreed on 21/2/2017 to replace the ATAD1 to tackle hybrid mismatch arrangements, but only between two (2) Member States. Whit this update, a Member State has to deny a deduction for the payment made to the hybrid entity, even if the participants of the entity are not in one of the Member States.

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