Taxation & Accounting

EFAMA discusses all relevant tax topics with importance to the European asset management industry, such as Tax transparency packages or EU FTT, OECD topics including several actions inserted in the Base Erosion and Profit Shifting (BEPS) project, and all kinds of national developments in case they have an impact on regulated EU investment funds. The focus lays on mainstream funds but we may discuss alternative investment fund tax-related issues, if they are of broad relevance.

Related policy positions

Policy Position

EFAMA's comments on EC’s Un-Shell proposal

Tax ＆ Accounting

08 April 2022

EFAMA's comments on EC’s Un-Shell proposal

EFAMA fully supports the Commission’s initiatives to fight tax avoidance and aggressive tax planning. The work of the technical teams that acknowledged our industry’s special requirements and the proposal of carve-out rules to protect investment structures and end-investors are, to a certain extent, to be welcomed.

Policy position

Tax ＆ Accounting

Accounting

27 January 2022

IASB’s request for information post-implementation review (PIR) of IFRS 9 – Classification and measurement

EFAMA replied to IASB’s request for information on the Post-Implementation Review (PIR) of IFRS 9 – Classification and measurement. Our paper recaps EFAMA’s key concerns and recommendations to the IASB. The key concerns of the industry are the removal of recycling (in particular for institutional investors) and the classification of investment entities and investment funds as debt instruments.

Policy Position

Person looking at a laptop screen with lots of data

Tax ＆ Accounting

07 October 2021

EFAMA comments on the European Commission’s public consultation on DEBRA

The Commission aims to present a legislative proposal to address the tax-induced debt-equity bias, also to support the action plan for the Capital Markets Union and to encourage companies to finance their investment through equity contributions rather than through debt financing.

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- the Competitiveness of our industry
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Policy Position

Tax ＆ Accounting

07 October 2021

EFAMA comments on the European Commission’s public consultation on DEBRA

Policy Position

Tax ＆ Accounting

27 August 2021

Consultation on the use of shell entities and arrangements for tax purposes

The Commission is trying to understand how the EU legal framework could be improved to tackle the use of legal entities with no or minimum substance and no real economic activities, by taxpayers operating cross-border to reduce their tax liability.