Thomson Reuters Checkpoint has just released a special report, European Commission Presents Anti-Tax Avoidance (ATA) Package, summarizing the ATA Package to help businesses plan for the latest developments in advance of implementation.
On January 28, 2016, the European Commission presented its Communication on the Anti-Tax Avoidance Package. The goal of the Package is to prevent aggressive tax planning, increase tax transparency, and create a level playing field for businesses in the European Union.
Tax evasion results in the loss of €50 - 70 billion each year in the EU. The ATA Package offers measures to prevent companies from transferring profits to tax havens and taking advantage of differences in national legislation to reduce taxes.
The Thomson Reuters free special report is available for download at tax.thomsonreuters.com/beps/european-commission-anti-tax-avoidance-package.
“The measures outlined in the ATA Package give the EU member states a single and coordinated approach to address tax avoidance,” said Jessica Silbering-Meyer, managing editor, international tax with a focus on BEPS, within the Tax & Accounting business of Thomson Reuters. “This report provides helpful guidance to keep businesses up-to-date on the latest developments for tax planning purposes.”
The report examines the new framework adopted by the European Commission to guide its member states’ country-by-country reporting directives. It also outlines the anti-tax avoidance rules in six major fields, half of which have been specifically developed for the EU, while the rest have been adopted from the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action Plan. The report also highlights the EU’s plan to address tax treaty abuse.