Press Release: Council agrees to close tax loophole for corporate groups

The Council of the European Union on the 20 June 2014 agreed to an amendment to EU tax rules in order to prevent the double non-taxation of corporate groups deriving from hybrid loan arrangements.

The aim is to close a loophole that currently allows corporate groups to exploit mismatches between national tax rules so as to avoid paying taxes on some types of profits distributed within the group.

European Commission: RAPID: STATEMENT/14/204: Commissioner Šemeta welcomes Council agreement on measures to fight tax avoidance http://europa.eu/rapid/press-release_STATEMENT-14-204_en.pdf

ESO: Background information: Malta keeping tax loophole open after Sweden drops opposition http://www.europeansources.info/record/malta-keeping-tax-loophole-open-after-sweden-drops-opposition/

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