2024-06-27-KPMG_s_EU_Tax_Centre-E-News_from_KPMG_s_EU_Tax_Centre_24页_890kb

Summary of KPMG EU Tax Centre E-News Issue 197

Judicial Updates

• CJEU dismisses referral regarding amicable procedure in double tax treaty cases for individuals with dual residence.
• UK Upper Tribunal rules against HMRC on double tax treaty abuse, allowing recovery of withholding tax based on Article 12(5) not applying.

EU Institutional Activities

• ECOFIN Council approves progress reports on EU tax initiatives and sets priorities for the Hungarian Presidency.
• European Commission evaluates the Anti-Avoidance Tax Directive and plans an evaluation for ATAD.
• Council releases priorities including fighting tax evasion and enhancing legal certainty.

OECD Developments

• OECD releases fourth Administrative Guidance for Pillar Two, clarifying GloBE Rules on recapture of deferred taxes, divergence rules, and allocations.
• Provides Qualified Status process updates for jurisdictions under Pillar Two, with transitional and permanent review phases.
• Announces additional guidance on Amount B of Pillar One.

Country-Specific Updates

• Multiple countries have transposed or initiated legislation for EU directives, including Hungary's presidency priorities, Finland and Italy's CbCR implementations, and partial Pillar Two applications in states like Latvia and Lithuania.
• Denmark updates Pillar Two legislation and tax reforms for 2025; Luxembourg proposes tax rate reduction and minimum tax law amendments.
• Austria provides FAQs on Pillar Two minimum taxation query.

KPMG Insights and Events

• Upcoming webcasts on EU tax policy, Pillar Two Administrative Guidance, and future trends.
• Talking Tax series delivers quick insights on topical tax issues.