Insights

Since our inaugural EU Direct Tax newsletter in July 2023, Grant Thornton is pleased to bring you the fourth edition of our review on EU Direct Tax Initiatives. This issue is packed with insights on upcoming developments and their potential impact on your business. Stay informed and ahead of the curve with our latest updates!

On 2 April, proclaimed “Liberation Day” by President Donald Trump, the United States announced a sweeping package of new tariffs on imported goods. These “reciprocal tariffs” are designed to counter what are seen as unfair duties imposed by other countries.

This article provides an overview of the main fiscal changes, with a particular focus on corporate income tax, dividend tax, and withholding tax. In addition to rate changes, we also address various regulations and their potential impact on businesses.

Following the launch of our first EU Direct Tax newsletter in July 2023, Grant Thornton is excited to present the third review of the EU Direct Tax Initiatives. This edition aims to keep you informed about upcoming EU Direct Tax developments and their potential implications for your business.

The FASTER Directive seeks to simplify WHT procedures for dividends and interest payments on publicly traded instruments to non-resident investors within the EU. Its goals are to encourage cross-border investments, enhance European capital markets, and provide better protection against tax fraud and abuse.

The Belgian presidency of the European Union will conclude in June 2024, and Hungary will take over the role until the end of the year. Considering the results of the June elections, it remains to be seen which EU direct tax initiatives will be prioritized and addressed.

This newsletter aims to keep you and your business updated on emerging EU tax developments and the possible implications for businesses.

The European Commission proposed a new EU directive for micro, small, and medium-sized enterprises (SMEs) who operate cross-border through permanent establishment.

On January 17th, 2023, the European Parliament published its approval of the European Commission’s draft proposal for Anti-Tax-Avoidance Directive III (ATAD 3) under the condition that a few amendments will be made.

On May 11, 2022, the European Commission published an EU Directive proposal introducing a debt-equity bias reduction allowance (‘DEBRA’).

The G20 leaders agreed to a global minimum tax rate of 15%. In addition, 137 of the OECD member countries have committed to a major reform of the international tax system . This reform changes the current international taxation rules and ensures that multinational enterprises will be subject to a minimum 15% tax rate starting from 2023. The framework updates key elements of the international tax system and deals with tax issues that arise from the increasing digitalization of the global economy.