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By Olivier Dal Farra, Tax Counsel Diogo Duarte de Oliveira, Tax Partner, Baker McKenzie Luxembourg
On 12 May 2022, the Committee on Economic and Monetary Affairs of the EU Parliament issued draft report containing a draft European Parliamentary Legislative Resolution (the “Draft Legislative Resolution”).(1) This draft report relates to 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 that was tabled by the EU Commission at the end of last year targeting the use of legal entities with no or minimum substance and no real economic activities. The Unshell Proposal may...
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