On 15 July, Irish law firm A & L Goodbody published an Insight providing an update on a proposal published by the European Commission in late 2021 to amend Council Directive 2016/1164/EU – the EU Anti-Tax Avoidance Directive (ATAD) – with the stated aim of preventing the misuse of shell entities for tax purposes. In May, the European Parliament issued a draft report outlining a number of changes to this proposed Unshell Directive, and the insight examines these proposed changes. Among other things, it notes that the timeline envisaged by the Commission in implementing the Unshell Directive has been pushed back by 1 year, from 2024 to January 2025.
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