Nexia CEO Kevin Arnold hands over position to Tim Wilson
After more than ten years as CEO at Nexia, Kevin Arnold has taken a well-deserved retirement and handed over his position to Tim Wilson.
After more than ten years as CEO at Nexia, Kevin Arnold has taken a well-deserved retirement and handed over his position to Tim Wilson.
Nexia International was named Network of the Year at the Digital Accountancy Awards 2021. In addition, Kevin Arnold, until recently CEO of the network, received a Lifetime Achievement Award.
The determination of appropriate transfer prices for intra-group financing transactions is a dispute-prone tax challenge for multinational companies. The German Federal Fiscal Court has established clear principles for the calculation of interest that are aligned with the OECD guidelines.
As no structured data was previously available for most reporting entities in the German transparency register due to various exemptions, the register had to become a full register. This means that, with immediate effect, all reporting parties must report all data on their beneficial owners.
In implementing the European Digitization Directive, the German Bundestag introduced a law on 10th June, 2021, that will enable the online formation of a limited liability company in the future - the German Act Implementing the Digitization Directive (DiRUG).
The German Federal Ministry of Finance has published "Administrative Principles on Transfer Pricing". In this letter, old administrative directives are partially summarized or repealed. This will have an impact on all companies with international operations.
Around 130 countries have agreed on a reform of international corporate taxation. The reform plans include a global minimum taxation of 15%. The agreement was also recently confirmed by the finance ministers of the G20 countries.
On May 28, 2021, the Bundesrat (upper house of the German parliament) passed two further important pieces of legislation, the Fondsstandortgesetz (FoStoG) and the Abzugsteuerentlastungsmodernisierungsgesetz (AbzStEntModG), which we already reported on at the draft stage.
New uncertainties regarding the write-off of cross-border loans within a group: Two years ago, the legal situation seemed to have been clarified by the Federal Fiscal Court. Now, within one day, the Federal Constitutional Court and the Federal Fiscal Court itself have overturned two of these
The Bundestag has passed the Corporate Income Tax Modernization Act (KöMoG). In addition to further changes to corporate income and conversion tax law, this law includes in particular the so-called option model. Compared to the first draft of the law, there have been some further changes.