The magnificent seven and the last duel against shell companies

On 22 December 2021, the European Commission presented the proposal for a Council Directive laying down rules to prevent the misuse of shell entities in order to obtain tax advantages within the EU. The proposed measures envisage a seven-step analysis that is intended to be a serious deterrent against the use for tax purposes of entities without substance in cross-border situations and an instrument to provide readily available information to Member States to effectively apply existing domestic rules. Read our observations to the public consultation.