ATAD III – Unshell Directive
By Jenny Panou, Partner, Head of Tax, Grant Thornton | Business Partners, Mar-Apr, 2024
In December 2021, the European Commission submitted its proposal for Anti-Tax Avoidance Directive III (ATAD III) laying down rules to prevent tax fraud through the misuse of shell companies in the EU. The ATAD III endeavor was triggered by the fact that many individuals and legal entities establish shell companies (entities with no economic substance…