26 February 2014 European Parliament supported a new standard VAT return proposed by EU Commission. The aim of this initiative is to ease tax compliance and make tax administrations across the Union more efficient as a commitment to the Commission's Regul
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  • 26 February 2014 European Parliament supported a new standard VAT return proposed by EU Commission. The aim of this initiative is to ease tax compliance and make tax administrations across the Union more efficient as a commitment to the Commission's Regul

26 February 2014 European Parliament supported a new standard VAT return proposed by EU Commission. The aim of this initiative is to ease tax compliance and make tax administrations across the Union more efficient as a commitment to the Commission's Regul

On 20 February 2014, the European Commission announced that it requested Luxembourg to terminate its discriminatory tax treatment of capital gains reinvested abroad. 

Luxembourg taxes capital gains, derived from the sale of property, that are reinvested abroad immediately, whereas capital gains that are reinvested in property in Luxembourg benefit from a temporary tax deferral.

The Commission takes the view that this different treatment constitutes an unjustified restriction on the free movement of services and free movement of capital. If Luxembourg does not comply with the request within two months, the Commission may refer the case to the Court of Justice of the European Union.

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