The European Court of Justice’s (ECJ) decision to disallow the Belgian tax authorities’ attempt to turn exempt capital gains into taxable profits in the Gimle case gives taxpayers certainty on the accounting treatment of acquisitions and removes the need to undertake contrived intra-group transactions to obtain an exemption.
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Scott Bessent reportedly felt undermined by Musk naming Gary Shapley as acting IRS commissioner; in other news, Baker Tilly will combine with a top 15 US firm
Despite garnering significant revenues from multinationals, Italy’s digital services tax presents pressing double taxation issues, say Stefano Simontacchi and Francesco Saverio Scandone of BonelliErede