European Parliament approves EU Emission Trading System reform and new EU Carbon Border Adjustment Mechanism
On 18 April 2023, the European Parliament approved important components for the ‘Fit for 55’ legislative package, which includes a reform of the EU Emissions Trading System (ETS) and the creation of the EU Carbon Border Adjustment Mechanism (CBAM).
CJ judgment on the compatibility of German tax rules for non-resident closed-end real estate funds with the free movement of capital (L Fund, C-537/20)
On 27 April 2023, the CJ delivered its judgment in the case L Fund (C-537/20). The case deals with the issue of whether the German corporate income tax, which applies to non-resident closed-end real estate funds, is in line with the free movement of capital.
AG Kokott’s opines that the Commission erred in finding that Luxembourg had granted unlawful State aid to the Engie group in the form of a tax advantage (Engie Global LNG Holding, Case C-454/21 P)
On 4 May 2023, AG Juliane Kokott delivered her Opinion in the case Engie Global LNG Holding and Others v Commission (Case C-454/21 P). In her Opinion, Kokott proposed that the CJ set aside the judgment of the General Court and annul the Commission decision which found that Luxembourg had granted unlawful State aid to the Engie group in the form of tax advantages.
European Commission Adopts DAC7 Implementing Regulation for Exchange of Information with Third Countries
On 13 April 2023, the European Commission adopted an implementing regulation regarding the assessment and determination of information equivalence in an agreement between a non-EU jurisdiction and a Member State under the seventh version of the EU Directive on Administrative Cooperation (DAC7).
CJ judgment on VAT liability relating to newly constructed real estate (Promo 54 SA, C 239/22)
On 9 March 2023, the CJ delivered its judgement in the case Promo 54 SA (C239/22) about VAT liability relating to newly constructed real estate and the criterion of first occupation to conversions of buildings.