RSM Global

Europe

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UNDERSTANDING EUROPE

Your passport to trade

The European Union is your passport into one of the most important free-trade zones on the planet. With 28 member states*, more than 20 million SMEs and over 500 million consumers, it offers your business a huge market of potential customers and suppliers.

RSM’s strength across the EU – combined with our global reach – means we’re ideally placed to help your business grow both in Europe and internationally.

We understand that Europe isn’t one region. Different economies are developing at different rates, and where there is risk, there is also opportunity. We can help you navigate the risks involved in the varying currencies, jurisdictions and legislation across different countries – and take full advantage of the countless opportunities on offer.

These opportunities vary from new tax structures and complex incentive schemes to lower bureaucratic hurdles for doing business in certain countries.

Mid-market organisations make up a large majority of the businesses across Europe, and are proving to be the engines for growth and the backbone of recovery. In this increasingly dynamic financial landscape, we will be your trusted adviser, understanding your priorities and helping you plot your path to future success.

Denmark: Record breaking Transfer Pricing adjustment in Denmark

13 May 2015
The Danish tax authorities have, for the third year in a row, increased the taxable income of multinational groups with a record-breaking amount. The latest years’ audit results in 20 billion DKK: The Danish tax authorities have, for the third year in a row, increased the taxable income of multinational groups with a record-breaking amount.

Czech Republic: New VAT rate as from 2015

13 May 2015
The Czech Ministry of Finance has announced a new second reduced VAT rate of 10%, applicable as of 1 January 2015 in the Czech Republic. As a result, the following three VAT rates are currently applicable in the Czech Republic:

Germany: Qualification conflicts and Treaty overriding

13 May 2015
German domestic law requalifies rental and interest income into business income in cases where a business consists of two entities under common control or when the shareholder holds assets that are key for the business, privately.

Russia: Review of the Russian Federal Legislation in the period 1 January 2015 up to and including 31 March 2015

13 May 2015
Changes in the procedure for calculating interest on borrowed fund 

France: Updated list of tax-abusive structures and schemes

13 May 2015
On 1 April 2015, the French tax authorities announced several measures aimed at improving legal certainty for individuals and businesses. To be more specific, the tax authorities published a list of practices and transactions that are deemed to be abusive:  

RSM appoints new European Regional Leader

28 April 2015
RSM, the seventh largest global network of independent audit, tax and advisory firms, has appointed Anand Selvarajan as its new European Regional Leader, replacing Robert Coles, who has held the position since June 2010.

Germany: New ordinance on the 'attribution of income to permanent establishments' published

15 April 2015
Under the 'Authorised OECD Approach' (AOA) the profit attributed to a permanent establishment (PE) should be in line with what the PE would have earned under arm's length conditions, i.e. as if it were a separate and independent entity, engaged in the same or similar activities, under similar circumstances.

Italy: Black lists for cost deduction and CFC regime amended

15 April 2015
On 1 April 2015, the Ministry of Economy and Finance issued a press release announcing two Ministerial Decrees amending the black list for cost deduction and the black list for the application of the Controlled Foreign Companies (CFC) regime.

Norway: Carried Interest

15 April 2015
In a recent High Court decision – the “Herkules case” – it was concluded that carried interest should be considered employment income. The decision was appealed with the Supreme Court, but highlights the risk of structuring Norwegian management of private equity funds. The case comes as a follow up of previous cases related to brokers, where internal partnership pr

Europe: Tax Transparency Package to combat corporate tax avoidance

15 April 2015
Currently, it is at the discretion of Member States to decide whether tax rulings might be relevant to other Member States. The Tax Transparency Package includes measures for Member States to automatically exchange information on their tax rulings.

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