Acupay Participates in EU Consultation About Withholding Tax

The European Commission has launched a public consultation regarding a new EU system for the avoidance of double taxation and prevention of tax abuse in the field of withholding taxes. As the commission describes in the consultation’s background, despite the actions currently taken at international and European levels, tax barriers to cross-border investments persist within the EU. The consultation explores both legislative and non-legislative initiatives to lower compliance costs for cross-border investors and to prevent tax abuse and is open to stakeholders, including citizens, national tax administrations, intergovernmental, non-governmental and business organizations, among others.

Acupay remains committed to removing friction in the complex world of global investing through technology and client-centered solutions that maximize client investments and simplify tax relief operations. It is Acupay’s strong belief that, through the simplification and streamlining of cross-border tax relief processes and systems, assisted by technologically advanced platforms and communications, transparency can be promoted, and tax abuse can be combatted effectively. Thanks to the Commission’s initiatives, the European governments and tax administrations, in collaboration with non-governmental and business entities, have a unique opportunity to shape a better future, where cross-border investing and tax relief can be more accessible, simpler, and safer for all stakeholders. Acupay will continue to contribute to all EU consultations and collaborate with all stakeholders on initiatives that aim to improve withholding tax processes and prevent tax abuse.

For more information regarding Acupay’s vision and solutions, contact Acupay’s Product Team via product@acupay.com.