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By Diogo DUARTE DE OLIVEIRA, Partner Olivier DAL FARRA, Counsel, Baker McKenzie Luxembourg
On 17 January 2023, the European Parliament issued a Legislative Resolution (the “Legislative Resolution”)(1) in relation with the proposal for a Council directive laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU (the “Unshell Proposal”).(2)
The Unshell Proposal is a draft EU Directive tabled by the EU Commission in December 2021 aims to fight against the misuse of shell entities for improper tax purposes and to ensure that shell companies in the EU that have no or minimal economic activity are unable to benefit from tax advantages.
The Unshell Proposal targets any...
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