COVID-19: European Commission’s Big Plan
The European Commission released a communication on 27 May 2020, setting its plan for recovery in Europe. This includes:
- Proposing a new €750 billion recovery instrument, Next Generation EU. This would be initially funded through unprecedented borrowing on the part of the Commission. To repay this debt between 2028 and 2058, the Commission has suggested new taxes may be levied on:
- Carbon emissions
- The operation of large companies
- Digital economy
- Non-recycled plastics
- A review by the Commission of the EU competition framework. Notably, in the communication, the Commission emphasises the importance placed by its recently announced Digital Services Act on a ‘fair marketplace’ for the provision of digital services.
- Increased efforts in the tackling tax fraud. As part of this, the Commission suggests that a common consolidated corporation tax base would assist by providing a single rulebook in computing corporation tax across the EU.
The DBKAG & K (CJEU) decision: an opportunity for investment funds?
On 17 June 2021, the European Court decided the joint cases K (C-58/20) and DBKAG (C-59/20) regarding whether the supply of certain services constituted the “management of special investment funds”, benefiting from the VAT exemption enshrined in Article 135(1)(g) of Council Directive 2006/112/EC.
Raising the bar: UK Supreme Court clarifies the requirements for HMRC to issue Follower Notices
On 2 July 2021, the Supreme Court delivered its judgment in R (on the application of Haworth) v HMRC  UKSC 25, finding unanimously in favour of the taxpayer and upholding the Court of Appeal’s decision to quash the follower notice issued to him.
The Danish Supreme Court decides the Fidelity case
The Fidelity case concerned claims brough by three undertakings for collective investment in transferable securities (UCITS) for the repayment of Danish withholding tax on dividends received from companies resident in Denmark between 2000 and 2009. The Supreme Court rejected the claims on the grounds that the Fidelity UCITS did not fulfil the conditions for the exemption provided by Danish law.
A yellow card for footballers and their agents……let’s bring in another match official
There has been long running tension between HMRC and the way that footballers and their agents are remunerated. As the Professional Footballers’ Association wade into the debate, Helen McGhee discusses the problems arising from agents’ fees and image rights.