OrbitaxOrbitax

ECOFIN Approves Amendment to EU Parent Subsidiary Directive to Close Double Non-Taxation Hybrid Financing Loophole

|Approved Changes|European Union
European Union

On 20 June 2014, the ministers of the EU Economic and Financial Affairs Council announced that they have agreed to amend EU tax rules in order to close a loophole that allows cross-border corporate groups to benefit from double non-taxation through hybrid financing arrangements.

The amendment applies to the EU parent-subsidiary directive (2011/96/EU), which was implemented to ensure that profi…

Continue Reading