Amendments and guidelines were recently published regarding the two new corporate income tax surtaxes for large companies.
On May 7, 2017, France elected a new president, Emmanuel Macron.
The Cyprus tax authority announced that the previously agreed minimum profit margins on back-to-back intragroup financing will cease to apply from July 1, 2017.
On October 25, 2016, the European Commission published a revised corporate tax reform package.
An informal Economic and Financial Affairs Council (ECOFIN) meeting took place on September 9 and 10, 2016, to discuss the implications of the European Council’s ruling that the tax affairs of Apple in Ireland constituted state aid.
After a two-year investigation, the European Commission reached the conclusion that Ireland granted illegal tax benefits to a multinational corporate giant, Apple, which enabled it to pay substantially less tax than other businesses over many years.
Margrethe Vestager, EU competition commissioner, has made it clear that she plans to defend the decision to order Apple to pay €13 billion (£11 billion) in back tax to the Irish government.