{"id":3589,"date":"2023-09-12T12:07:14","date_gmt":"2023-09-12T12:07:14","guid":{"rendered":"https:\/\/legalavocado.com\/wp\/?p=3589"},"modified":"2023-09-12T12:07:14","modified_gmt":"2023-09-12T12:07:14","slug":"avocado-roundup-european-commission-drops-profit-apportionment-plan","status":"publish","type":"post","link":"https:\/\/legalavocado.com\/wp\/avocado-roundup-european-commission-drops-profit-apportionment-plan\/","title":{"rendered":"Avocado Roundup: European Commission Drops Profit Apportionment Plan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3589\" class=\"elementor elementor-3589\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37ceb17 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"37ceb17\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4c6b7b3\" data-id=\"4c6b7b3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fea1088 elementor-widget elementor-widget-text-editor\" data-id=\"fea1088\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.16.0 - 20-09-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tAvocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans.\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f2c65e7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2c65e7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2c2058f\" data-id=\"2c2058f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e1031de elementor-widget elementor-widget-text-editor\" data-id=\"e1031de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6dbb44 elementor-widget elementor-widget-text-editor\" data-id=\"e6dbb44\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The European Union&#8217;s executive branch is reportedly dropping a controversial proposal to use a so-called formulary apportionment method to divvy up taxation of multinationals&#8217; profits across EU member states. The proposal was set to be released today with transfer pricing and other tax proposals. (<a href=\"https:\/\/www.politico.eu\/article\/eu-commission-foregoes-profit-sharing-corporate-tax-reform\/\"><i><u>Politico<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c69170 elementor-widget elementor-widget-text-editor\" data-id=\"4c69170\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The Italian Ministry of Finance released for comment a draft law that would transpose into national law the EU directive adopting the OECD-brokered agreement for a global minimum tax on multinational groups and large national companies. (<a href=\"https:\/\/www.mef.gov.it\/inevidenza\/Fisco-in-consultazione-pubblica-il-decreto-legislativo-su-global-minimum-tax\/\" target=\"_blank\" rel=\"noopener\"><i><u>MEF.gov.it<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8ee121 elementor-widget elementor-widget-text-editor\" data-id=\"a8ee121\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The world&#8217;s energy prices fail to take into account the environmental, health, and climate costs of using fossil fuels, according to a new report by\u00a0<span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">the Platform for Collaboration on Tax. The platform, a joint initiative of the United Nations, OECD, IMF, and World Bank Group, says the report aims to<\/span><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">\u00a0help policymakers, businesses, and other stakeholders better understand the\u00a0 organizations&#8217; various carbon pricing metrics. (<\/span><a href=\"https:\/\/www.tax-platform.org\/news\/cpm-report\"><i><u>Tax-Platform.org<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">)<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f015ace elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f015ace\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2845508\" data-id=\"2845508\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d148829 elementor-widget elementor-widget-text-editor\" data-id=\"d148829\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Economists agree a carbon tax is the best tool for fighting climate change. But companies are impossibly in love with fossil fuel, a report says. (<a href=\"https:\/\/publications.banque-france.fr\/lamour-impossible-des-compagnies-de-combustibles-fossiles-pour-les-taxes-carbone\" target=\"_blank\" rel=\"noopener\"><i><u>Banque de France<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4d6ae8f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4d6ae8f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-16d39e5\" data-id=\"16d39e5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a6e36dd elementor-widget elementor-widget-text-editor\" data-id=\"a6e36dd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>The US Internal Revenue Service is taking 2024 applications through Oct. 31 for its compliance assurance program. (<a href=\"https:\/\/www.natlawreview.com\/article\/irs-opens-2024-application-period-compliance-assurance-program-cap\" target=\"_blank\" rel=\"noopener\"><i><u>National Law Review<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ef66da6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ef66da6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d13460c\" data-id=\"d13460c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fd9944a elementor-widget elementor-widget-text-editor\" data-id=\"fd9944a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>A key French\u00a0<a href=\"https:\/\/legalavocado.com\/wp\/french-tax-cuts-have-boosted-business-jobs-and-government-revenues-says-le-maire\/\" target=\"_blank\" rel=\"noopener\"><i><u>production tax<\/u><\/i><\/a>\u00a0known its acronym CVAE\u00a0will be eliminated entirely for some 300,000 small companies in 2024, but about 220,000 big companies will have to wait as late as 2027 to be free of the levy, Economy Minister Bruno Le Maire said Tuesday. (<a href=\"https:\/\/www.lesechos.fr\/economie-france\/budget-fiscalite\/impots-la-cvae-disparaitra-totalement-des-2024-pour-300000-petites-entreprises-1977328\" target=\"_blank\" rel=\"noopener\"><i><u>Les Echos<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cba4a82 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cba4a82\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8a6d533\" data-id=\"8a6d533\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d1f0ef elementor-widget elementor-widget-text-editor\" data-id=\"4d1f0ef\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>A Manilla appeals court acquited Philippine American journalist and Nobel Peace Prize laureate Maria Ressa of tax evasion. (<a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/09\/12\/maria-ressa-acquitted-tax-evasion-philippines\/\" target=\"_blank\" rel=\"noopener\"><i><u>Washington Post<\/u><\/i><\/a>)<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f3e1363 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f3e1363\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-da12972\" data-id=\"da12972\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9458454 elementor-widget elementor-widget-text-editor\" data-id=\"9458454\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li><a style=\"font-size: 1rem;\" href=\"https:\/\/www.sidley.com\/en\/newslanding\/newsannouncements\/2023\/09\/sidley-represents-avantax-in-its-acquisition-by-cetera-holdings-for-us1-billion\" target=\"_blank\" rel=\"noopener\"><i><u>Sidley Austin<\/u><\/i><\/a>\u00a0and Haynes and Boone<span style=\"color: var( --e-global-color-text ); background-color: var( --e-global-color-c696dce ); font-size: 1rem;\">\u00a0are advising tax-focused wealth-management company Avantax, Inc. on its agreement to be acquired by private equity firm Cetera Holdings for around $1.2 billion, including debt. Willkie Farr &amp; Gallagher is advising Cetera.\u00a0<\/span><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">(<\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.globenewswire.com\/news-release\/2023\/09\/11\/2740821\/0\/en\/Avantax-Enters-into-Definitive-Agreement-to-be-Acquired-by-Cetera-Holdings.html\" target=\"_blank\" rel=\"noopener\"><i><u>GlobeNewswire<\/u><\/i><\/a><span style=\"color: var( --e-global-color-text ); font-size: 1rem; background-color: var( --e-global-color-c696dce );\">)<\/span><\/li><\/ul><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It\u2019s written by humans. The European Union&#8217;s executive branch is reportedly dropping a controversial proposal to use a so-called formulary apportionment method to divvy up taxation of multinationals&#8217; profits across EU member states. The proposal was set to be released [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3906,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[30,54,79,59,14,27,4,17,21],"tags":[],"class_list":["post-3589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate","category-energy","category-environment","category-european-commission","category-european-union","category-irs","category-tax","category-transfer-pricing","category-united-states"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/comments?post=3589"}],"version-history":[{"count":226,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3589\/revisions"}],"predecessor-version":[{"id":3908,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/posts\/3589\/revisions\/3908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media\/3906"}],"wp:attachment":[{"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/media?parent=3589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/categories?post=3589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalavocado.com\/wp\/wp-json\/wp\/v2\/tags?post=3589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}