RSM Global

Tax news

Newsletters from the RSM Tax Centre of Excellence, covering recent developments in taxation around the world.

Europe: European Commission relaunches its work on a Common Consolidated Corporate Tax Base

21 July 2015
As part of its five-tier Action Plan on fair and efficient corporate taxation within the European Union (EU) the European Commission (EC) announced on 17 June 2015 that they will continue its work on the Common Consolidated Corporate Tax Base (CCCTB) by developing a completely new CCCTB proposal.

Germany: German taxation on transfer of assets to an EU-located permanent establishment compatible with the freedom of establishment

21 July 2015
In its judgement of 21 May 2015, the European Court of Justice decided that a tax legislation of a Member State which, in the case of a transfer of assets from a company located within the territory of that Member State to a permanent establishment of that company located within the territory of another Member State, provides for the disclosure of unrealised capita

Europe: European Commission presented Action Plan on corporate taxation within the EU

21 July 2015
On 17 June 2015, the European Commission (EC) presented their five-tier Action Plan on a fair and efficient corporate taxation within the EU. The Action Plan sets out a series of initiatives to tackle tax avoidance, secure sustainable revenues and strengthen the Single Market for businesses. In particular this means that:

Austria: Tax Reform Act 2015

21 July 2015
On 20 March 2015, the Ministry of Finance of Austria published the first details of the planned Tax Reform. On 16 June 2015, the Austrian Government approved a draft version of the Tax Reform Act 2015. The reform will, in principle, be applicable from 1 January 2016.  Corporate key elements of the reform are:

New Zealand Inland Revenue announce two year focus on multinationals

21 July 2015
The New Zealand Inland Revenue Department ‘IRD’ has announced a two year focus on multinational businesses. The IRD has also identified specific transactions that will be actively reviewed during this project.

Germany: German roll-over relief rules contrary to EU law

21 July 2015
In its judgement of 16 April 2015 the European Court of Justice held that the German tax legislation, which allows that capital gains realised from the sale of certain business assets (mostly land and buildings) may be ‘rolled-over’ to reinvestments into new assets if both the sold and the newly purchased assets belong to a German permanent establishment, violates

UK cuts corporate tax rate again – to 18% by 2020

13 July 2015
The UK government announced yesterday that the main rate of UK corporation tax will be cut to 18% by 2020. It is currently 20% for the 2015 financial year which is the joint-lowest rate in the G20 group of countries. It will be reduced to 19% for the financial years 2017, 2018 and 2019 and then to 18% for 2020. 

Europe: New developments on the CCCTB

15 June 2015
On 27 May 2015, the European Commission held an orientation debate on how to develop a fairer and more efficient corporate tax system. Vice-President Dombrovskis of the European Commission held a speech afterwards to point out the main topics that were discussed:

Slovakia: New Transfer Pricing documentation guidelines published

15 June 2015
On 26 May 2015, the Ministry of Finance published new guidelines on transfer pricing documentation requirements. The Guideline will apply as of 1 January 2015 and replaces the previous guidelines of October 2014.

Europe: European Commission adopts the fourth Anti Money Laundering Directive

15 June 2015
On 20 May 2015, the members of the European Parliament adopted rules to combat money laundering and terrorist financing. This is one of the key actions in the European Security Agenda that was announced last month (28 April 2015).

Pages