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UK carbon border adjustment mechanism: shaping up ahead of 2027

In 2027, the UK will introduce a carbon border adjustment mechanism (CBAM) on imports of certain carbon intensive goods. The CBAM will impose a charge on the emissions embodied in relevant imports that take place on or after...more

A new sustainable finance champion – demystifying the Community Investment Tax Relief (CITR) for institutional investors

In 2003, the UK Government introduced the CITR scheme to provide private investors with a significant tax incentive to finance enterprises within disadvantaged communities through accredited CDFIs. Whilst a similar scheme is...more

The UK gives the green light to a UK CBAM and consults on the UK ETS

The UK has finally confirmed that it will be following the EU and introducing its own Carbon Border Adjustment Mechanism (CBAM) to be implemented by 2027. It published the eagerly awaited outcome of its consultation on...more

What does Pillar Two mean for structured finance?

Born of the OECD’s base erosion and profit shifting (BEPS) project, the Pillar Two rules introduce a global minimum corporate tax rate of 15% on multinationals of a certain size. The reforms reflect the outcome of an...more

Tax incentives for sustainable investments: what businesses should be thinking about

We recently hosted an event as part of our Sustainable Transition seminar series titled “Tax incentives for sustainable investments: where are the opportunities?”. In this article, our panellists set out some of the key...more

The global minimum tax rate: Are we nearly there yet?

On 20 December 2021, the OECD published keenly awaited model rules designed to implement Pillar Two of its ambitious plans to reform international taxation. ...more

OECD Pillars, the digital economy and minimum taxes

To date, 132 jurisdictions have committed to the OECD’s two-pillar plan to reform international tax rules, as set out in its statement of 1 July 2021. Although the genesis of the proposed reforms relates to the taxation of...more

EU Anti-Tax Avoidance Directive Published: Implications For United Kingdom Corporate Taxpayers

On 28 January 2016 the EC published a proposal for a so-called Anti-Tax Avoidance Directive. If implemented it would apply to all taxpayers who are subject to corporate tax in an EU Member State, including corporate taxpayers...more

UK’s financial transaction tax challenge – mission accomplished

The UK was challenging the legality of the decision taken by the Council of the European Union to authorise the enhanced cooperation procedure (ECP) to establish an FTT for a subgroup of willing Member States. The UK, and a...more

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