TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

ECOFIN anti-avoidance directive on hybrid mismatches

The Economic and Financial Affairs Council (ECOFIN) recently reached agreement on a proposal for a directive targeting ‘hybrid mismatches’ with the tax systems of third countries. The draft directive forms part of 2015 OECD recommendations addressing corporate tax Base Erosion and Profit Shifting (BEPS).

The proposal addresses hybrid mismatches relating to non-EU countries; intra-EU disparities are already covered by the ‘anti-tax-avoidance directive’ adopted in July 2016. The directive requires unanimity within the Council, after consulting the Parliament. Once the directive is finalised, member states will have until 31 December 2019 to transpose the directive into national laws and regulations.