EU: THE “UNSHELL DIRECTIVE” AND SHELL COMPANIES

On 6 April, PMLJ in Portugal published an article about a proposed EU Directive in December which introduces a set of rules to prevent the improper use of shell companies (companies without economic substance) exclusively intended to obtain tax advantages.  If adopted, the Directive will have to be incorporated into national law by Member States by 30 June 2023 and will enter into force on 1 January 2024.  The article sets out to answer 5 key questions to understand what shell companies are and what the consequences of being considered a shell company are.

https://www.mondaq.com/corporate-and-company-law/1180278/the-unshell-directive-shell-companies

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: