The European Commission on 20 August 2020 issued its first report to the European Council and the European Parliament on the implementation of the EU Anti-Tax Avoidance Directive (ATAD 1 and 2). ATAD introduced various BEPS inspired measures in the domestic laws of the Member States, including GAAR, an earnings stripping rule limiting interest deduction, CFC rules, exit taxation and anti-hybrid mechanisms.
The report is required under the directive and is the first step in the evaluation of the impact of the ATAD measures. The version released today covers, however, only GAAR, the earnings stripping rule, and the CFC rules. It will be followed by a comprehensive report covering all ATAD measures (except the hybrid mismatch rules which are due for reporting only by 1 January 2022).
The report is accessible here in all EU official languages.
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