On 18 May 2021, the European Commission (“EC”) published a communication about “Business Taxation for the 21st Century” introducing a set of actions to ensure fair and effective taxation. According to the EC, shell entities continue to create a risk of being used for improper purposes, such as aggressive tax planning, tax evasion or money laundering notwithstanding the different measures taken at the international and EU level. There is still a lack of EU legislative measures defining substance requirements for tax purposes to be met by entities within the EU write Goodwin Tax lawyers Bastien Voisin and Yann Ricard. Read the byline in Paperjam here.
In The Press July 01, 2021