2017 09 01 cfe fc bureau 4 years in review final by GEB

FISCAL COMMITTEE 4 Years in Review [2013 â&#x20AC;&#x201C; 2016]

Piergiorgio Valente Chairman, Fiscal Committee Brussels, December 2016

Dear Members of the General Assembly, Dear Friends, As my term in office as Chairman of the Fiscal Committee (“FC”) comes to an end, I would like to share with all of you some of the joint achievements performed by the Members of our Fiscal Committee. Such outstanding work would not have been possible without the full commitment and technical competence, strong dedication and personal involvement of our FC Members as well as the notable contributions by other CFE professionals and officers who joined our working g roups. I would take this opportunity to thank each and every one of them. You will hereby find a summary of the work that we have been carrying out since 2013, the year in which I became Chair of the FC. We have also included the FC’s projects and topics we selected to specifically target and work on, so that you may better perceive our accomplishments and share our g ratification. We are rather proud – we must admit – of the work carried out over the past few years, which have been especially demanding but just as fulfilling. We hope that you also share the same feelings. We are convinced that a lot more needs to be done to increase CFE’s visibility and to expand its role as a key player and Leader in its field among the EU, the OECD and other major institutions and bodies. To this effect, I truly believe that we assembled a g reat team committed to continue pursuing the goals set for the FC, and I am sure that we will have rewarding times ahead. I would like to thank you most sincerely for your support, commitment and cooperation these past four years. Yours sincerely, Piergiorgio Valente (Chairman of the Fiscal Committee 2013 - 2016)

Dear Members of the General Assembly, We, the CFE Fiscal Committee (“FC”) Bureau, would like to present the work and targets that we put forward to our FC for 2017-2018 and beyond. This presentation reflects our view and strategy envisaged for the FC. The building block to ensure a successful outcome is in our opinion: a cohesive team, strongly motivated and always striving to meet Tax Advisors’ main needs, both at EU and international levels, safeguarding our best interests and concerns, while ensuring a level playing field, working together in order to successfully attain the same goals. One of our overriding objectives is to enhance the integrity of national and international tax systems. We embrace this commitment and we hereby confirm that we are ready – as FC Bureau leaders – to dedicate our time to engage in this task, to ensure continuity and to safeguard consistency with the work that has already been carried out until now. It is of the utmost importance that CFE be regarded as the best qualified and most authoritative independent institution of Tax Advisors in Europe. Our mission is to be the voice of the tax profession in Europe for the years ahead and to continue representing the interests of our National Organizations within the international tax arena to reflect the highest possible ethical and professional standards. Faithfully yours, Stella Raventos Ian Young Jeremy Woolf Jos Goubert Georg Kofler Piergiorgio Valente Dick Hofland Miriam Galandovà Geraldine Schembri Petra Pospisilova

Fiscal Committee

Summary

Section Section Section Section Section

1 2 3 4 5

– – – – –

Mission Program Projects Organization Road Ahead

Section 1 - Mission

20132014 20152016

20172018

Section 1 – Mission Section Section Section Section

2 3 4 5

– – – –

Program Projects Organization Road Ahead

FC - Mission

INFLUENCE

PROMOTE and DEVELOP

ENSURE

EXPAND

2013-2015 2015-2016

To promote the development of stable and transparent tax frameworks and administrative practices, with the aim of ensuring the elimination of double taxation, reduction of compliance costs and any other obstacles to the crossborder economic activity of EU companies. To develop the exchange of information on national tax regimes and to maintain relations with Authorities at national, EU and international levels, in the area of tax. To advise the EU institutions on policy initiatives and their implementation in the area of tax. To ensure that the needs of EU tax advisors are addressed in EU tax and policy decisions and actions, in an appropriate manner. To expand the CFE Fiscal Committee work with the aim of addressing tax concerns not only in EU Countries, but also in non-EU Countries.

ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

2013-2014 2015-2016

FC – Mission in Action

To cast the CFE “critical-eye” on main tax related EU Legislation and case laws

To engage in the development of the work at EU Commission level

To ensure that the CFE business perspective is reflected in the activity carried out at OECD level and to engage in active dialogue with BIAC, on relevant tax matters, such as transfer pricing, base erosion and profit shifting, tax havens, hybrid instruments, etc.

To strengthen and reinforce co-operation with other European and international professional bodies and associations (such as BusinessEurope, BIAC, FEE, ICC, IAFEI, Eurocommerce, AOTCA, WAUTI, EATLP, etc.) by promoting discussions on tax matters

To continue FC work in cooperation with PAC in the area of aggressive tax planning, tax fraud and tax evasion, where discussions are currently held, at different levels

Contribute to expand CFE’s role as an actor/active voice among EU and OECD, major Institutions and Bodies

To strengthen the CFE as a dedicated forum for tax advisors as well as its role as an active contributor to better policies while ensuring a clear, efficient and stable EU framework

Section 2 - Program

20132014 20152016

20172018

Section 1 – Mission

Section 2 – Program Section 3 – Projects Section 4 – Organization Section 5 – Road Ahead

FC – Methodology

Analyze Involve

INFLUENCE

PROMOTE and DEVELOP

ENSURE

EXPAND

Measure CFE Fiscal Committee Promote

Create Discuss

FC Timing

• Meeting (Brussels) January

March • Meeting (Brussels)

• Bureau Conf Call

July • Bureau Conf Call

• Meeting

(St. Petersburg/ Austria/ Amsterdam)

May

November • Bureau Conf Call

September

FC – 2013/2014 Program (1)

Accomplished

To continue work in the area of aggressive tax planning, tax fraud and tax evasion, where discussions are currently held at different levels

To engage in the development of the work at EU Commission level

• setting up of a Joint Working Group FC/PAC; • at EU Level: on the EU proposed package to Fight Tax Evasion and Aggressive Tax Planning; • at OECD level: on the measures currently adopted by OECD Member Countries to tackle aggressive tax planning and on the different approaches for the identification of aggressive tax planning schemes; • […]

• on EU actions to implement the EU Package to Fight Tax Evasion and Aggressive Tax Planning; • on double non-taxation cases and possible ways to tackle them, as well as on double taxation, considering the measures to be adopted; • on any adverse impact of double taxation cases on European economic competitiveness; • on co-ordination of other initiatives, at EU and international levels, that address aspects of double (non) taxation (e.g. the EU Code of Conduct Group and the OECD Report on Hybrid Mismatches); • on the future of the EU VAT system; • […]

FC – 2013/2014 Program (2)

Accomplished

To ensure that the CFE perspective is reflected in the activity carried out at OECD level in the matter of transfer pricing. In particular:

• in the proposed revision of the provisions of Chapter VI of the OECD Transfer Pricing Guidelines, and in the proposed revision of the Annex to Chapter VI, containing examples illustrating the application of the provisions of the revised text of Chapter VI; • in the proposed revision of the current guidance on safe harbours in Chapter IV of the OECD Transfer Pricing Guidelines and associated sample memoranda of understanding for competent authorities to establish bilateral safe harbours; • in the proposed modifications to the OECD Transfer Pricing Guidelines on certain timing issues related to transfer pricing, in connection with the work of Working Party No. 6 on intangibles and other projects; • in the project to improve administrative aspects of transfer pricing including a review of techniques that may be implemented by countries to optimize the use of taxpayers’ and tax administrations’ resources; • […]

To closely monitor the work done

• at OECD level, on changes to Art. 5 of the OECD Tax Model and Commentary; • at UN level, with reference to the Transfer Pricing Practical Manual for Developing Countries; • […]

FC – 2015 Program (3) Accomplished

To engage in the development of the work at EU Commission level

• on the EU actions to implement the EU Package to Fight Tax Evasion and Aggressive Tax Planning; • On the ongoing projects within the European Commission Expert Groups such as the: EU Platform for Tax Good Governance, Expert Group on removing cross-border tax problems of individuals and VAT Expert Group; • to ensure that the CFE priorities submitted to the European Commission for the years ahead (2014 – 2019) are reached/considered; • In particular: • on double non-taxation cases and possible ways to tackle them, as well as on double taxation, considering the measures to be adopted; • on any adverse impact of double taxation cases on European economic competitiveness; • on co-ordination of other initiatives, at EU and international levels, that address aspects of double (non) taxation (e.g. harmful tax competition and the EU Code of Conduct Group); • on the future of the EU VAT system; • […]

FC – 2015 Program (4) Accomplished

To continue work in the area of aggressive tax planning, tax fraud and tax evasion, where discussions are currently held at different levels

To closely monitor the work done and to proceed with the update on CFE FC Technical Questionnaires

• on EU actions to implement the EU Package to Fight Tax Evasion and Aggressive Tax Planning; • on double non-taxation cases and possible ways to tackle them, as well as on double taxation, considering the measures to be adopted; • on any adverse impact of double taxation cases on European economic competitiveness; • on the rights of Taxpayers (CFE Taxpayer Charter); • on ways to improve MAP and dispute resolution (e.g. Permanent International Tribunal for Tax Disputes’ initiative); • to intensify transversal cooperation, enhancing communication and coordination among the two Committees, and exploring opportunities for synergistic activities/areas in specific joint projects; • […]

• at EU level; • at OECD level; • at UN level ( e.g. with reference to the Transfer Pricing Practical Manual for Developing Countries); • […]

FC – 2015 Program (5) Accomplished

To ensure that the CFE business perspective is reflected in the activity carried out at OECD level

• on the OECD BEPS project (e.g. engagement within the Stakeholders’ ongoing BEPS Consultations); • on the OECD initiatives set regarding international tax issues and good tax governance; • on the initiatives launched to improve the effectiveness of policy formulation in general and aimed at strengthening clarity, transparency and effectiveness of tax frameworks; • within the field of the cooperative compliance program, cooperation and exchange of information, etc.; • within the field of transfer pricing (e.g. in the proposed modifications to the OECD Transfer Pricing Guidelines on certain timing issues related to transfer pricing, in connection with the work of Working Party No. 6 on intangibles and other projects; on the project to improve administrative aspects of transfer pricing including a review of techniques that may be implemented by countries to optimize the use of taxpayers’ and tax administrations’ resources); • […]

FC – 2016 Program

To closely monitor the work doneat

To engage in the development of the work at EU Commission level and OECD level as well

Accomplished

• on the EU actions to implement the EU Package to Fight Tax Evasion and Aggressive Tax Planning and EU Anti-Tax Avoidance Package; • on the implementation at EU level of BEPS Recommendations (taking into consideration “EU Identity and specificities”); • on the fostering and improving of dispute resolution mechanisms (binding arbitration); • on effective measures to tackle double taxation and double non taxation, as well as to deter harmful tax competition; • on the ongoing projects within the European Commission Expert Groups such as: the EU Platform for Tax Good Governance and VAT Expert Groups; • on the OECD BEPS project (e.g., implementation and follow-up); • on the OECD initiatives on international tax issues and good tax governance; • within the field of transfer pricing (e.g., in the proposed modifications to the OECD Transfer Pricing Guidelines on certain timing issues related to transfer pricing and methods relating thereto).

• at EU level; • at OECD level; • at UN level (e.g. , with reference to the Transfer Pricing Practical Manual for Developing Countries); • […]

FC – 2016 Key Points

In Brief:

Areas

Goals

EU measures set to fight tax evasion & aggressive tax planning

Contribute to Tax Policy developments - Promoting ideas in the tax area

Monitoring implementation of OECD BEPS measures Future of EU VAT system

Cope with global challenges through creative and innovative approaches

Concerns

Communication

Tax advisers’ role - tax avoidance - new framework

Strengthen FC links with MOs (providing tax knowledge, technical information, and conveying value)

BEPS Action 12 implementation Follow-up on TAXE II Report/actions

Foster synergies between/among the various policy-making areas New FC tools

Section 3 - Projects

20132014 20152016

20172018

Section 1 – Mission Section 2 – Program

Section 3 – Projects Section 4 – Organization Section 5 – Road Ahead

2013-2016: Key Projects and Areas

Some of the Key Projects and Areas

CFE FC/PAC

OECD

On the EU package to fight tax evasion and aggressive tax planning

On the BEPS Stakeholdersâ&#x20AC;&#x2122; Consultations/ Recommendations

On the EU package to fight tax evasion and aggressive tax planning and the OECD BEPS Project

At the EU Platform of Tax Good Governance level

Follow the developments of the OECD project on Voluntary Disclosure

Follow-up on the work on aggressive tax planning and the role of tax advisers

On the future of the EU VAT system and FTT

Follow the developments of the OECD on Transfer Pricing Matters

On the promotion of the Model Taxpayer Charter & Permanent Arbitration Tribunal

ensuring that the CFE business perspective is reflected in the activity carried out at EU level

ensuring that the CFE business perspective is reflected in the activity carried out at OECD level

ensuring that the CFE approach to the matters and discussions is comprehensive

JWG

To closely monitor the work done ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

2013-2016: Main Activities

Opinion Statements

Technical Questionnaires Technical Questionnaires 6

25 20

2013 2014 2015 2016

1 0 2013

2014

2015

2016

CFE Forum Participants

(excluding Board Members, Staff and Speakers)

CFE Tax Top 5 51

2013 2014 2015 2016

25 20 15 10

48 47 46 45 44

Private Sector

CFE Delegates

National European Journalists Ministries Institutions

CFE Tax Top 5 (weekly releases)

2014

ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

2015

2016

23 April 2014 OECD Public Consultation on the Digital Economy

21 January 2015 OECD Public Consultation on Artificial Avoidance of PE Status

15 May 2014 OECD Public Consultation on Hybrid Mismatches

11 May 2015 OECD Public Consultation on Mandatory Disclosure Rules (Action 12)

CFE Questionnaire on the CCTB/CCCCTB Proposal CFE Questionnaire on Tax Rulings (CFE Survey on anti-abuse rules and aggressive tax planning CFE TP Questionnaire CFE Questionnaire on NonCooperative Jurisdictions in EU MSs

CFE Forum Topics 2013-2016

OECD Public Consultations (BEPS)

 JWG FC/PAC activities (e.g. cooperation PAC/FC on the Platform for Tax Good Governance Discussion Papers, Permanent International Tribunal for Tax Disputes)  Global Tax Advisers Cooperation Forum technical cooperation of the CFE FC with AOTCA on BEPS was launched; Joint Opinion Statements were released; WAUTI is interested in contributing also in the future  Preparation/update of Technical Questionnaires; participation to several Conferences; drafting Technical Articles  Some FC Members contributed to the PAC working group on the role of tax advisers  CFE input to the EU Consultation on further Corporate Tax Transparency  FC input to the EU Consultation on the CCCTB

Technical Questionnaires by 2016

2013-2016: Other Activities

 

     

2016 topic: Spirit of the Law, Economic Substance, Value Creation: How to Square the Circle? 2015 topic: Tax governance and tax risk management in a post-BEPS world 2014 topic: Policies for a sustainable tax future 2013 topic: Tax Planning: what is (un)acceptable?

2013-2014: Summary Main Activities

2013

Opinion Statements

2014

Conferences (as main Speaker)*

Technical Questionnaires

CFE Articles

25 1 5

Opinion Statements

Conferences (as main Speaker)*

Technical Questionnaires

CFE Tax Top 5

ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

22 3

2015-2016: Summary Main Activities

2015

2016

Opinion Statements

Opinion Statements in the pipeline

Technical Questionnaires

Conferences (as main Speaker)* Technical Questionnaires

CFE Tax Top 5

15 4 48

23 10 5

Opinion Releases

National Releases

CFE Tax Top 5

ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2013-2016: Opinion Statements

23 21

18 15

44 2

4 2

4 22

0 2013

2014

Joint FC/PAC FC, Indirect Tax

2015

2016

ECJ Task Force FC, Direct Tax

Â© Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2013: Opinion Statements (1) • on the review of existing legislation on VAT reduced rates

• on the case National Grid Indus and Exit Taxation

CFE FC 1/2013

ECJ-TF 1/2013

• on the case Philips Electronics and group relief (C-18/11)

• on the fight against fraud to the EU's financial interests by means of criminal law

ECJ-TF 2/2013

CFE FC 2/2013

• on the Draft Consolidated OECD International VAT/GST Guidelines

CFE FC 3/2013 Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2013: Opinion Statements (2) • on country-by-country reporting of tax information by large companies

• on the case K. Ettwein (C-425/11)

CFE FC 6/2013

ECJ-TF 4/2013

• ECJ-TF 3/2013 of the CFE on the case A Oy (C-123/11) and the use of cross-border losses

• on an EU definition of Permanent Establishment

ECJ-TF 3/2013

CFE FC 5/2013

• on the introduction of EU Taxpayer Identification Numbers

CFE FC 4/2013 Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2014: Opinion Statements (1)

• on changes to the OECD Model Convention

• on the decision of the ECJ in case Åkerberg Fransson (C-617/10)

• on the OECD “Discussion Draft on TP Documentation and CbCR”

CFE FC 1/2014

ECJ-TF 1/2014

CFE FC 2/2014

• on the Rec. C(2012)8806 on ATP, an EU GAAR and double-non taxation

• on VAT legislation on public bodies and tax exemptions in the public interest

• on the decision of the ECJ in case Sabou (C276/12)

CFE FC 3/2014

CFE FC 4/2014

ECJ-TF 2/2014

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2014: Opinion Statements (2)

• on the OECD Discussion Draft on BEPS Action 6

• on the VAT exemption for independent groups of persons

• on the Tax Challenges of the Digital Economy (BEPS Action 1)

CFE FC 5/2014

CFE FC 6/2014

CFE FC 7/2014

• on the proposal for a common standard VAT return

• on hybrid mismatch arrangements (BEPS Action 2)

• on the proposal COM(2013)814 for a revised ParentSubsidiary Directive

CFE FC 8/2014

CFE FC 9/2014

CFE FC 10/2014

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2014: Opinion Statements (3)

• on the European tax advisers´ priorities in EU policy: Goals for the next 5 years ahead

• on cross-border inheritance tax problems within the EU

• on voluntary disclosure

CFE FC 11/2014

CFE FC 12/2014

CFE FC 13/2014

• on the VAT treatment of vouchers

• on a multilateral instrument to modify bilateral tax treaties (BEPS Action 15)

• on the decision of the ECJ on the case SCA (Joint cases C-39/13, 40/13, 41/13)

CFE FC 14/2014

CFE FC 15/2014

ECJ-TF 4/2014

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2014: Opinion Statements (4)

• on the judgment of the ECJ in case DMC (C-164/12)

• follow-up to Opinion Statement FC 2/2014 on BEPS Action 13

ECJ-TF 3/2014

CFE FC 16/2014

• on the Tax Challenges of the Digital Economy (BEPS Action 1)

CFE FC 17/2014

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2015: Opinion Statements (1)

• on BEPS Action 7 (artificial avoidance of PE status)

• on BEPS Action 6 (treaty abuse)

• on BEPS Action 14 (dispute resolution)

AOTCA/CFE FC 1/2015

AOTCA/CFE FC 2/2015

AOTCA/CFE FC 3/2015

• on hybrid mismatch arrangements (BEPS Action 2)

• on Interest Deductions and other Financial Payments (BEPS Action 4)

• on two new elements of the OECD International VAT-GST Guidelines

CFE FC 4/2015

AOTCA/CFE FC 5/2015

CFE FC 6/2015

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2015: Opinion Statements (2)

• on mandatory disclosure rules (BEPS Action 12)

• on CFC rules (BEPS Action 3)

• on automatic exchange of information on cross-border tax rulings and APAs

CFE/AOTCA FC 7/2015

CFE/AOTCA FC 8/2015

CFE FC 9/2015

• on the second OECD discussion draft on avoidance of PE status

• on the second OECD discussion draft on tax treaty abuse

• on further corporate tax transparency

CFE FC 10/2015

CFE FC 11/2015

CFE FC 12/2015

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2015: Opinion Statements (3)

• on VAT rates

• on Modernising VAT for cross-border ecommerce

• on cases C-127/12 and C-211/13 on inheritance taxation

CFE FC 13/2015

CFE FC 14/2015

ECJ-TF 1/2015

• on Case C-172/13 on cross-border loss utilization and the “Marks & Spencer exception”

•on Case C-512/13 on “horizontal discrimination”

• on Case C-386/14, Groupe Steria SCA, on the French “intégration fiscale”

ECJ-TF 2/2015

ECJ-TF 3/2015

ECJ-TF 4/2015

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2016: Opinion Statements (1)

• on the re-launch of the CCCTB

• on VAT treatment of cross-border services connected with immovable property

• on the proposal for an EU Anti-Tax Avoidance Directive

CFE FC 1/2016

CFE FC 2/2016

CFE FC 3/2016

• on the BEPS Final Recommendations (overall package)

• FC 4a/2016 on tax challenges of the digital economy (Action 1): final BEPS Recommendations

• on interest deductions and other financial payments (Action 4): final BEPS Recommendations

CFE FC 4/2016

CFE FC 4a/2016

CFE FC 4b/2016

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2016: Opinion Statements (2) • on harmful tax practices, transparency and substance (Action 5): final BEPS Recommendations

• on transfer pricing and value creation (Action 8-10): final BEPS Recommendations

• on mandatory disclosure rules (Action 12): final BEPS Recommendations

CFE FC 4c/2016

CFE FC 4d/2016

CFE FC 4e/2016

• on dispute resolution mechanisms (Action 14): final BEPS Recommendations

• on the VAT liability of directors (May 2016)

• on improving double tax dispute resolution mechanisms (May 2016)

CFE FC 4f/2016

CFE FC 5/2016

CFE FC 6/2016

• on the consequences of the CJEU judgment in case Facet et al. on the right to VAT deduction (May 2016)

• on the role of tax advisers with regard to tax avoidance

CFE FC 7/2016

CFE FC 8/2016

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC-2016: Opinion Statements (3) • on the TAXE 2 Report

• on the VAT Action Plan

• on the design and operation of the group ratio rule (BEPS Action 4)

CFE FC 9/2016

CFE FC 10/2016

CFE FC 11/2016

• on the Revised OECD Guidance on Profit Splits (Action 8-10)

• on the Attribution of Profits to PEs (Action 7)

• on the case C-10/14 Miljoen et al, on the Dutch dividend withholding tax

CFE FC 12/2016

CFE FC 13/2015

ECJ-TF 1/2016

• on branch mismatch structures (BEPS Action 2)

• on European tax advisers´ tax policy priorities 2016/2)

CFE FC 14/2016

CFE FC 15/2016

• on the case Brisal & ors. and the admissibility of gross withholding taxation of interest ECJ-TF 2/2016

Op. St. FC Direct Tax Op. St. FC Indirect Tax Op. St. ECJ-TF Op. St. FC/PAC © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC Technical Questionnaires by 2016

TP Questionnaire • Latest Update: 2013/2014 (to be circulated in Jan. 2017)

GAAR Questionnaire • Latest Update: February 14, 2016

Tax Rulings Questionnaire • June 12, 2015

Tax Havens Questionnaire • First release: October 2014; Reviewed in Aug. 2015

CCTB/CCCTB Questionnaire • Released: December 2016

Expert Groups/Working Groups 2013-2015

Members/CFE Representatives

Platform for Tax Good Governance

Expert Group on removing tax problems facing individuals

VAT Forum

EU VAT Expert Group

Piergiorgio Valente

Volker Heydt

Ian Hayes

Petra Pospíšilová

Stella Raventos

Isabelle Richelle

Christian Amand

Jeremy Woolf

Mandate: 23.04.2013 – 22.04.2016

Mandate: 12.06.2015 – 30.06.2015

Three year mandate starting on 1.10.2015

New mandate of 2 years starting on 1.10.2014

FC/PAC JWG

Working Group on BEPS

Piergiorgio Valente Dick Barmentlo Stella Raventos Petra Pospisìlova Ian Young Wim Gohres Philippe Vanclooster Gary Ashford Rudolf Reibel

Geraldine Schembri Dick Hofland Jos Goubert Ian Young Piergiorgio Valente Stella Raventos Brendan Crowley Miriam Galandová Rudolf Reibel

Expert Groups/Working Groups 2016

• At EU Level Platform for Tax Good Governance Piergiorgio Valente

Members/CFE Representatives

Stella Raventos Mandate: 23.04.2013 22.04.2016/extended 2016 - 2019

VAT Forum

EU VAT Expert Group

Ian Hayes

Jeremy Woolf

Christian Amand

Trudy Perié

Three year mandate starting on 1 October 2015

Three year mandate starting on 1 October 2016

• At CFE Level

FC/PAC JWG FC and PAC Members Topics: Joint Areas of Action

Members:  Piergiorgio Valente  Dick Barmentlo  Stella Raventos  Petra Pospisìlova  Ian Young  Wim Gohres  Philippe Vanclooster  Gary Ashford

Tax Strategy Monitoring Group

BEPS Ad Hoc Working Group Dick Hofland

FC-2016 - Ad-Hoc Working Groups

Piergiorgio Valente

CCCTB Ad Hoc Working Group Geraldine Schembri

BEPS Working Group [Chair: Dick Hofland]

CCCTB Working Group [Chair: Geraldine Schembri]

Jos Goubert

Stella Raventós

Geraldine Schembri

Jeremy Woolf

Giampiero Guarnerio Victor Viana Isabelle Richelle Florentina Şuşnea

Jos Goubert Dick Hofland Christian Vella

Romain Bontemps

Aidan Lucey

First Meeting: Sep. 22

First Meeting: Sep. 23

Transfer Pricing Ad Hoc Working Group Miriam Galandovà

UN/OECD Working Group

Ian Young

Transfer Pricing Working Group [Chair: Miriam Galandovà ]

UN/OECD Working Group [Chair: Ian Young]

Florentina Şuşnea Stella Raventos Piergiorgio Valente

Jos Goubert Giampiero Guarnerio Piergiorgio Valente

Update TP Questionnaire

Report UN meeting

Tax Forum 2013 â&#x20AC;&#x201C; 2016 (Participation)

CFE Forum 2013 - 2016 45 40 35 30 25 20 15 10 5 0 Private Sector

CFE Delegates

2013

2014

National Ministries

2015

European Institutions

2016

Except Board Members, staff, guests, sponsors & speakers

ÂŠ Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

FC Opinion Statements since 2009

Fiscal Committee Opinion Statements [since 2009] 50 45 40 35 30 25

Total

FC - Direct Tax

FC - Indirect Tax

10 5

FC - ECJ TaskForce

Joint FC/PAC 2009

2010

2011

2012

2013

2014

2015

2016

Section 4 - Organization

20132014 20152016

20172018

Section 1 – Mission Section 2 – Program Section 3 – Projects

Section 4 – Organization Section 5 – Road Ahead

Organization (1)

FC Bureau 2013-20149/2015

Fiscal Committee (FC) Chairman: Piergiorgio Valente Secretary: Rudolf Reibel Senior Advisor to the Chairman: Filipa Correia

Direct Tax Sub-Committee Ian Young

BEPS Ad Hoc Working Group Coordinator: Rudolf Reibel

ECJ Task Force

Indirect Tax Sub-Committee Petra Pospíšilová

Transfer Pricing Ad Hoc Working Group Stella Raventos

UN/OECD Ad Hoc Working Group

Georg Kofler

Ian Young

Organization (2)

FC Bureau 2016

Fiscal Committee (FC) ECJ TaskForce

Chairman: Piergiorgio Valente Vice-Chair: Stella Raventos Executive Secretary to the Chair: Christian Amand

Chair: Georg Kofler

Direct Tax Sub-Committee

Indirect Tax Sub-Committee

Chair: Ian Young Vice-Chair: Jos Goubert

Chair: Petra Pospíšilová Vice-Chair: Jeremy Woolf

Tax Strategy Monitoring Group

UN/OECD Working Group Chair: Ian Young

Chair: Piergiorgio Valente

BEPS Ad Hoc Working Group Dick Hofland

CCCTB Ad Hoc Working Group Geraldine Schembri

Transfer Pricing Ad Hoc Working Group Miriam Galandovà

Organization (3)

FC Bureau 2017-2018

Fiscal Committee (FC) Chair: Stella Raventos Vice-Chair: Jeremy Woolf Executive Secretary to the Chair: Mary Dineen

ECJ Task Force Chair: Georg Kofler

Direct Tax Sub-Committee

Indirect Tax Sub-Committee

Chair: Ian Young Vice-Chair: Jos Goubert

Chair: Jeremy Woolf

Tax Strategy Monitoring Group

Chair: Ian Young

Chair: Piergiorgio Valente

BEPS Ad Hoc Working Group Chair: Dick Hofland

UN/OECD Working Group

CCCTB Ad Hoc Working Group Chair: Geraldine Schembri

Transfer Pricing Ad Hoc Working Group Chair: Miriam Galandovà

Section 5 – Road Ahead

20132014 20152016

Section Section Section Section

1 2 3 4

– – – –

20172018

Mission Program Projects Organization

Section 5 – Road Ahead

Fiscal Committee

Mission: To be the Voice of the Tax Profession in Europe The Fiscal Committee • follows strategic tax issues, tax policy at European and International levels, • monitors the progress made within the EU Member States in terms of implementation of tax reforms and • represents CFE members at EU tax groups such as the Platform for Tax Good Governance, the EU VAT Forum and the EU VAT Expert Group. The Direct Tax Sub-Committee deals with corporate tax issues at European level, taking into consideration international and supranational developments as well as national trends on a comparative basis. The Indirect Tax Sub-Committee follows all issues related to indirect tax, including value-added tax (VAT) and FTT at European level. The Tax Strategy Monitoring Group addresses tax policy issues at European, international and supranational levels. The “Ad Hoc Group(s)” is/are in charge of specific matters either in direct or indirect tax areas, or have special assignments in connection with supranational bodies such as the OECD and the UN. © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

Fiscal Committee Bureau (1)

1. The Fiscal Committee (“FC”) Bureau • • • • • • • • • • • •

Chair of the Fiscal Committee Vice-Chair of the Fiscal Committee Executive Secretary to the Chairman of the Fiscal Committee Chair of the Direct Tax Sub-Committee Vice-Chair of the Direct Tax Sub-Committee Chair of the Indirect Tax Sub-Committee Vice-Chair of the Indirect Tax Sub-Committee Chair of the ECJ Taskforce Vice-Chair of the ECJ Task Force Chair of the Tax Strategy Monitoring Group Chair(s) of all “Ad Hoc Working Group(s)” […]

2. Other members will be allowed to attend by invitation. 3. Meeting(s) will take place on the same day at any and all FC meeting(s) (tentatively 1h before every FC). 4. Ad hoc meetings will be scheduled, when necessary.

Fiscal Committee Bureau (2)

The Fiscal Committee Bureau • sets forth the strategy of the FC, • draws on the activities of its Sub-Committees and Ad Hoc Working Groups to promote a sound and balanced tax policy and strong dialogue with key stakeholders, • deals with cross-cutting tax topics going beyond the scope of a single Sub-Committee and Ad Hoc Working Group with appropriate procedures and enforcement, • guarantees the coordination of the work carried out within the FC, • monitors the developments of innovative services in the digital economy that are tax-relevant. In particular, the Fiscal Committee Bureau aims to: • provide a European framework to share tax knowledge at the highest level, • foster synergies between the fields of policy-making and research, • promote ideas in the tax area, • ensure that the FC enhances its links to National Organizations, providing tax knowledge, technical information and conveys value to them, and • cope with the global challenges through creative and innovative approaches.

Fiscal Committee Bureau (3)

Facilitate the transition within the FC

Continue providing technical support and ensure consistency within the FC

Assure a good level of commitment

Follow-up on the work done in the past years

New Working Groups’ Purpose

- ensure timely technical deliveries

- avoid bureaucracy and optimize resources

- enhance commitment of CFE Members

Strengthen CFE both at EU and International level.

Contribute to CFE’s expansion and role

- contribute to increase the number of opinion statements and contributions

- increase CFE’s visibility

BEPS Monitoring

EU (selected topics)

• Implementation • Implications • Coordination EU/OECD

• Anti-Tax Avoidance Package • CCCTB • CbCR and Exchange of Information • Commission proposals to reform VAT

Main Topics

Section 5 – 2017 and Ahead: FC’s Priorities

Our Priorities -

Ensure that Tax Advisers’ concerns are well addressed and reflected in a more transparent, clear and efficient tax framework (both at EU and International level). Guarantee a level-playing field for Tax Advisers and for business and Taxpayers in general, ensuring that the competitiveness of the EU is not jeopardized. Continue casting CFE’s “critical-eye” on tax-related EU Legislation and ECJ case law, and to expand CFE’s visibility as a key leading Association in its field.

Follow-up on the work carried out by the FC in the past few years, and reinforce information exchange with National Organizations. Guarantee the same level of engagement and commitment in the BEPS Project, ensuring that remaining Tax Advisers’ concerns on BEPS will be duly taken into consideration and that implementation of BEPS measures is carried out consistently and effectively. Continue CFE activities and involvement at EU level, through the EU Expert Groups within which CFE is represented, and through the participation in the development of the work at EU Commission level.

Strengthen co-operation with other European and international professional bodies and associations. © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

Section 5 – Core Dimensions

The “FC 2017-2018 and beyond Program” comprises three core dimensions:

• knowledge sharing, • project development and • ongoing research.

All projects are developed within the FC in cooperation with:

• • • • •

policy makers, senior executives, eminent scholars as well as junior academics, top-notch professionals and high-level area experts.

both within the EU and other international key institutions.

Section 5 – Priorities Program

To continue engaging in the development of the work at EU Commission level and OECD level as well:

• on the EU actions to implement the EU Package to Fight Tax Evasion and Aggressive Tax Planning and EU Anti-Tax Avoidance Package; • on the implementation at EU level of BEPS Recommendations (taking into consideration “EU Identity and specificities”); • on the fostering and improving of dispute resolution mechanisms (binding arbitration) and the new EU proposal; • on effective measures to tackle double taxation and double non taxation, as well as to deter harmful tax competition; • on the ongoing projects within the European Commission Expert Groups such as: the EU Platform for Tax Good Governance and VAT Expert Groups; • on the OECD BEPS project (e.g., implementation and follow-up); • on the OECD initiatives on international tax issues and good tax governance; • within the field of transfer pricing (e.g., in the proposed modifications to the OECD Transfer Pricing Guidelines on certain timing issues related to transfer pricing and methods relating thereto).

To closely monitor the work done and to proceed with the update on CFE FC Technical Questionnaires

• at EU level; • at OECD level; • at UN level (e.g. , with reference to the Transfer Pricing Practical Manual for Developing Countries); • […]

Section 5 – Key Projects & Areas

Some of the Key Projects and Areas

CFE FC/PAC

OECD

On the EU package to fight tax evasion and aggressive tax planning; CCCTB

On the ongoing implementation of BEPS measures (including a new BEPS Questionnaire)

On the EU package to fight tax evasion and aggressive tax planning and the OECD BEPS Project

At the EU Platform of Tax Good Governance level; at other Expert Group’s Meetings

On TP developments

Follow-up on the work on aggressive tax planning and the role of tax advisers

On the future of the EU VAT system

On the interaction between EU and OECD measures set to counteract tax fraud and evasion

On the promotion of the Model Taxpayer Charter & Permanent Arbitration Tribunal

ensuring that the CFE business perspective is reflected in the activity carried out at EU level

ensuring that the CFE business perspective is reflected in the activity carried out at OECD level

ensuring that the CFE approach to the matters and discussions is comprehensive

JWG

Section 5 – Indirect Tax Sub Committee

Petra Pospisilova

The Indirect Tax subgroup is composed of renowned tax practitioners

Paolo Centore Trudy Perie Thibault Hennique

Meetings - generally three meetings/Year

Carlos G. Barrero Jeremy Woolf (Chair)

Ioana Jacob Christian Vella John Voyez Milan Tomicek Mariuz Ciezla Gonda Scheldfout Ruta Teresko

The Fiscal Committee Indirect Tax Sub Committee and its Members are actively involved within the EU VAT Forum, Fiscalis, with the national tax authorities and the Business Expert Group within the European Commission and the OECD.

Aim - discussing and issuing opinion statements on Commission’s proposals regarding VAT, Cases of the CJEU and practical issues faced by tax advisers. It aims at commenting on any ongoing issues regarding VAT and the FTT. It aims to provide high level practical and independent input to the Commission, the Council, the European Parliament and tax practitioners and to address public consultations on the subject matters.

Section 5 – Priorities FC and VAT Strategy VAT Action Plan: • follow EC work, • provide technical comments to the Plan as a whole, and subsequently on any steps made by the EC and the EU Parliament, • put our comments forth on technical matters and on the fact that VAT work developments depend on the unanimous consent requirement for tax matters in the Council. VAT/GST Guidelines by the OECD: • follow-up indirect taxation work carried out by the OECD and its working groups (TAG and the relevant WP), since due to the “agreement by consensus”, the OECD seems to be taking over EU being the policy maker in the VAT/GST area Ongoing Participation of CFE Experts in both, the VAT Expert Group and the VAT Forum: • seek active participation in both of these EC working groups and provide prompt input to the discussion • provide sufficient feed-back to the CFE ECJ Jurisprudence in the VAT Area: • continue the work done so far and prepare CFE Opinion Statements where relevant, since due to the lack of action in the Council, ECJ is taking (together with OECD) a “quasi” legislative role in the VAT area FTT Proposal: • Monitor developments © Piergiorgio Valente, Chairman, CFE Fiscal Committee December 2016

Section 5 – Priorities ECJ Task Force Strategy Alfredo Garcia Prats Werner Haslehner Volker Heydt

The Task Force - The CFE ECJ Task Force is a group of tax academics and renowned tax practitioners meeting regularly to discuss and issue opinion statements on selected decisions of the EU Court of Justice

Eric Kemmeren Michael Lang Georg Kofler (Chair)

João F. Pinto Nogueira Pasquale Pistone

Meetings - The ECJ Task Force generally meets four times a year full-day meetings

Stella Raventos-Calvo Isabelle Richelle Alexander Rust Rupert Shiers Emmanuel Raingeard

The ECJ Task Force and its members are also actively involved in the organization/as speakers at an annual conference at the University of Luxembourg

13 ECJ Opinion Statements were issued [2013-2016]

Aim - to comment on significant Court decisions and provide high-level practical input to tax practitioners on selected judgments by the CJEU through its Opinion Statements

• Topics of the last years’ events were: -“Landmark Decisions in Direct Tax Jurisprudence” (2014), “Primary Law Limits to Direct Taxation: Fundamental Rights, Fundamental Freedoms and State Aid” (2015), “EU Tax Policy in the 21st Century” (2016) • Opinion Statements are made available to practitioners and academics throughout Europe and published in IBFD’s “European Taxation” journal; they are sent to the European Institutions directly

Edited by: Piergiorgio Valente Rif.: www.cfe-eutax.org/ File: 2017-05-01_FC Bureau_ 4 Years in Review Status: Draft Date: 05.01.2017 15:00