European Union

KPMG submission on ‘Pillar One’ approach to address digital economy tax issues

This week KPMG submitted its comments to the Organisation for Economic Co-operation and Development (OECD) consultation with regard to the unified approach under Pillar One.

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Advocate General at CJEU in Dong Yang VAT case

On November 14, 2019 Advocate General Kokott rendered her Opinion in the Dong Yang Electronics case (C-547/18). 

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Processing of debit and credit card payments not exempt from VAT

On May 26, 2016 the Court of Justice of the European Union (CJEU) rendered judgment in two cases concerning the VAT treatment of card handling services. The CJEU ruled that the processing of debit and credit card payments, as dealt with in these cases, does not qualify for the VAT exemption for payment transactions.

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Brexit Update: EU grants delay until January 31, 2020

After a long period of silence, there has been a rapid succession of Brexit developments. Our Brexit taskforce, comprising Brexit specialists from KPMG Meijburg & Co and KPMG, would like to update you on what has been happening.

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VAT deduction limitation for holding companies carrying on a business with substance?

On February 29, 2015 the Court of Justice of the European Union (CJEU) was asked to render a preliminary ruling in the MVM case (case no. C-28/16) on the right of a top holding company − that is actively involved in the management of its participations − within an energy group, to recover VAT. This concerns a situation that has never been dealt with before, in which a company that actively carries on a business is also involved in the management of its participations. 

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EU Anti-Tax Avoidance Directive 2: hybrid mismatches with third countries

On February 21, 2017 the EU Member States reached agreement on a Directive that will amend the Anti-Tax Avoidance Directive (Council Directive (EU) 2016/1164 of July 12, 2016, ’ATAD 1’). The new Directive (‘ATAD 2’) amends Article 9 of ATAD 1, which covered certain hybrid mismatches between EU Member States. 

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Supreme Court refers preliminary questions to the Court of Justice of the European Union about dividend withholding tax refunds for foreign investment funds

In its judgment of July 10, 2015, the Dutch Supreme Court denied a request for the refund of Dutch dividend withholding tax filed by a Luxembourg investment fund. However, on March 3, 2017 the Supreme Court referred questions to the Court of Justice of the European Union (CJEU) for a preliminary ruling, following a request from the Dutch District Court in August 2016 for the Supreme Court to reconsider its negative judgement. Meijburg & Co acted as legal counsel for the taxpayer in both cases.

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Bill on implementation of UBO register presented for public consultation

On March 31, 2017 the draft bill on the Registration of Ultimate Beneficial Owners Implementation Act (hereinafter: the bill) was presented for public consultation. 

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Brexit update 1

On 29 March 2017, the United Kingdom’s (hereinafter: UK) Prime Minister, Theresa May, invoked Article 50 of the Treaty of the European Union (hereinafter: TEU). This marks the official beginning of the withdrawal procedure of the UK from the European Union (hereinafter: EU). In this short article we will take a glance at the meaning and consequences of the invocation of Article 50 TEU.

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