The European Commission on 20 August 2020 issued its first report to the European Council and the European Parliament on the implementation of the EU Anti-Tax Avoidance Directive (ATAD 1 and 2). ATAD introduced various BEPS inspired measures in the domestic laws of the Member States, including GAAR, an earnings stripping rule limiting interest deduction, CFC rules, exit taxation and anti-hybrid mechanisms.
The report is required under the directive and is the first step in the evaluation of…