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Cross-border Tax Talks

July 21, 2021

EU Update: State Aid, CBCR and Tax in the 21st Century

Doug McHoney (PwC's US International Tax Services (ITS) Leader) holds another post-vaccine session live at the Westminster Studios with Maarten Maaskant (PwC’s Foreign Tax Desk Leader) to discuss the latest happenings in the European Union (EU) from a legislative, administrative, and judicial perspective. Doug and Maarten cover, among other topics: both the Amazon and Engie state aid decisions in the EU General Court and their future implications; public country-by-country reporting; the European Commission (EC) proposal for a new instrument to address potential distortive effects of foreign subsidies; and the EC communication on business taxation for the 21st century.

Timestamps:

  • 4:45 - Where is the ‘Amazon’ State aid case in the procedural process?
  • 6:00 - What were the specific facts of the Amazon case and how did the General Court rule?
  • 11:00 - Where does the ‘Engie’ case stand procedurally and what are the facts of the case?
  • 14:00 - What was the legal issue in this case, was it a question of abuse of law?
  • 16:00 - What are the consequences from this General Court decision?
  • 17:00 - Outside of these two decisions, what else is happening in the State aid landscape?
  • 19:00 - How does the EU implement and enact directives and laws?
  • 19:30 - Can you describe the recently proposed EU regulation on foreign subsidies?
  • 24:30 - What are the consequences if the EC finds an inappropriate foreign subsidy was granted? Could they force a disposal?
  • 26:30 - What is the latest regarding public country-by-country reporting in the EU?
  • 29:30 - What is ‘fair business taxation’ and where does this fit in the broader realm of EU taxation?
  • 34:00 - How important is it for multinational companies and taxpayers to engage in the comment period of these EU proposals?

 

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Doug McHoney

International Tax Services Co-Leader, PwC US

Geoff Jacobi

ITS, Knowledge Management Managing Director, PwC US

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