{"id":8372,"date":"2024-06-01T12:25:54","date_gmt":"2024-06-01T10:25:54","guid":{"rendered":"https:\/\/www.fogliandpartners.com\/european-commissions-proposal-business-in-europe-framework-for-income-taxation-befit-published\/"},"modified":"2024-06-15T15:04:01","modified_gmt":"2024-06-15T13:04:01","slug":"european-commissions-proposal-business-in-europe-framework-for-income-taxation-befit-published","status":"publish","type":"post","link":"https:\/\/www.fogliandpartners.com\/en\/european-commissions-proposal-business-in-europe-framework-for-income-taxation-befit-published\/","title":{"rendered":"European Commission’s proposal “Business in Europe: Framework for Income Taxation” (BEFIT) published."},"content":{"rendered":"\t\t
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The European Commission today announced that it has adopted a package of proposals aimed at reducing the costs of \ud835\ude24\ud835\ude30\ud835\ude2e\ud835\ude31\ud835\ude2d\ud835\ude2a\ud835\ude22\ud835\ude2f\ud835\ude24\ud835\ude26 for groups of companies active at \ud835\ude24\ud835\ude33\ud835\ude30\ud835\ude34\ud835\ude34-\ud835\ude23\ud835\ude30\ud835\ude33\ud835\ude25\ud835\ude26\ud835\ude33 by about 65 percent.<\/p>\n

Statements by Commission Vice-President Valdis Dombrovskis and Economy Commissioner Paolo Gentiloni reveal the EU Commission’s ambition to want to introduce substantial simplification for the benefit of both companies and tax authorities through the adoption of a single set of rules for determining the tax base of those companies, belonging to the same group, that operate in more than one Member State.<\/p>\n

Specifically, the BEFIT proposal, which is related to the OECD\/G20 work on \ud835\ude17\ud835\ude2a\ud835\ude2a\ud835\ude2d\ud835\ude2d\ud835\ude2d\ud835\ude22\ud835\ude33 2 and the EU Directive on the introduction of a global minimum tax, takes the place of the previous CCCTB Directive proposal and aims at the introduction of rules, mandatory for groups of companies operating at the EU level with total annual revenues of at least \u20ac750 million and in which the parent company holds at least 75 percent of the controlling interests or profit participations, aimed at harmonizing the calculation of the tax bases of each entity participating in the group and aggregating those bases into a single group tax base. For smaller groups, however, adoption of such standards will be optional.<\/p>\n

In the package of proposals, a proposal for a directive for EU-wide harmonization of transfer pricing rules was, in addition, also included.<\/p>\n

Once adopted by the Council, the proposals will enter into force on July 1, 2028 (Proposed BEFIT Directive) and January 1, 2026 (Proposed Directive on \ud835\ude35\ud835\ude33\ud835\ude22\ud835\ude2f\ud835\ude34\ud835\ude27\ud835\ude26\ud835\ude33 \ud835\ude31\ud835\ude33\ud835\ude2a\ud835\ude24\ud835\ude2a\ud835\ude2f\ud835\ude28).<\/p>\n

For more information: https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_4405<\/a><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

12 September 2023<\/p>\n","protected":false},"author":3,"featured_media":6176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-8372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_foglia-en"],"_links":{"self":[{"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/posts\/8372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/comments?post=8372"}],"version-history":[{"count":0,"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/posts\/8372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/media?parent=8372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/categories?post=8372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fogliandpartners.com\/en\/wp-json\/wp\/v2\/tags?post=8372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}