Algirdas Šemeta, European Commissioner for Taxation, Customs, Statistics, Audit and Anti-fraud, explains that the proposal for a financial transaction tax (FTT) under enhanced cooperation that the Commission tabled last month is a milestone from at least two perspectives: the tax itself and the procedure used for the tax to become a reality.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort