GE GVT issued draft bill of a third ordinance amending a tax haven defense ordinance.
Follows GE GVT Oct. 2021 published details of tax haven defense law, see #119647.
Document dated Oct. 10, 2024, received from GE GVT Oct. 10, summarized Oct. 25.
Third Ordinance
The ordinance designates the tax jurisdictions which are non-cooperative tax jurisdictions in accordance with section 2(1) of the Tax enforcement act, insofar as they are listed in the EU list of non-cooperative jurisdictions for tax purposes.
EU list is updated twice a year; member states review progress made by jurisdictions in transparency, fair taxation and the implementation of BEPS measures.
In Feb. and Oct. 2024, Council of European Union for Economic and Financial Affairs (ECOFIN) reached agreement on list of non-cooperative jurisdictions for tax purposes.
With the 2024 updates, Antigua and Barbuda, the Bahamas, Belize, the Seychelles and the Turks and Caicos Islands will no longer be included in the EU list.
This means there are now 11 states or territories on the EU list; amending ordinance transposes this update into German law in accordance with section 3(1) StAbwG.
Effectiveness
This ordinance comes into force on the day after its publication.
Dec. 2024 Promulgated Ordinance
On Dec. 30, 2024, GE GVT confirmed the ordinance was promulgated in the gazette.
Ordinance shall enter into force on the day following its promulgation, Dec. 31, 2024.
Document dated Dec. 30, 2024, received from GE GVT Jan. 15, summarized Jan. 20.
Regulators
GE GVT
Entity Types
Corp
Reference
OG 444, PR, 12/30/2024; PR, 10/10/2024; Bill 9/27/2024; StAbwG
