The European Commission suggested a new approach to the proposed ‘UNSHELL’ Directive aimed at preventing the abuse of shell companies for tax purposes, at the high-level meeting on tax issues at the Council of the European Union on Tuesday 11 June.
For several months, negotiations on this text have stalled over the substance criteria (see EUROPE B13271A20). Based on Germany’s suggestion, this new proposal takes up the idea of sharing information on companies, their main...