AI Summary of Recitals
This document outlines amendments to Council Directive 2011/16/EU regarding the automatic exchange of information for Top-up tax information returns, in line with Council Directive (EU) 2022/2523. This amendment aims to implement a framework for operationalising filing obligations established under the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting. It details the conditions for local and central filing, defines the information to be exchanged, and establishes timelines for communication among Member States.
The Directive mandates that Member States use a standard template for reporting, ensures uniform implementation across jurisdictions, and stipulates necessary measures for compliance. It also specifies procedures for the correction of errors and the handling of missing exchanges. The provisions serve to enhance coordination among tax administrations and facilitate compliance with the global minimum tax reform, necessitating prompt implementation by Member States.
Recitals
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 113 and 115 thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Parliament [Opinion of 12 February 2025 (not yet published in the Official Journal).],
Having regard to the opinion of the European Economic and Social Committee [Opinion of 26 February 2025 (not yet published in the Official Journal).],
Acting in accordance with a special legislative procedure,
Whereas:
(1) Council Directive (EU) 2022/2523 [Council Directive (EU) 2022/2523 of 15 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (OJ L 328, 22.12.2022, p. 1, ELI: http://data.europa.eu/eli/dir/2022/2523/oj).] implements the agreement reached on 8 October 2021 by the OECD/G20 Inclusive Framework ('OECD/G20 IF') on base erosion and profit shifting ('BEPS') and closely follows the Global Anti-Base Erosion Model Rules (Pillar Two) of Organisation for Economic Co-operation and Development (OECD) ('OECD Model Rules') agreed by the OECD/G20 IF on 14 December 2021. Directive (EU) 2022/2523 introduces a qualified income inclusion rule ('IIR') and a qualified undertaxed profit rule ('UTPR'). That Directive also allows Member States to introduce their own qualified domestic top-up tax ('QDTT').