The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) published its criteria checklist for the prevention of blind poolingof closed-ended retail funds. Compared to the most recent draft dated 23 September 2013, the checklist is less restrictive.

The ECJ ruled that the German lump-sum taxation of non-transparent foreign investment funds according to Sec. 6 GITA violates the free movement of capital (ECJ, decision dated 9 October 2014, “Van Caster” – C-326/12)

On September 20th, the organization for economic cooperation and development (OECD) presented the first results of its action plan on base erosion and profit shifting at the G20 summit in Australia. The OECD, an intergovernmental organization of 34 member countries, received the order last year to set up an action plan on base erosion and profit shifting, the BEPS project. Whereas in the past, the OECD did its work in the area of avoidance of double taxation, the direction of this project is to avoid double non-taxation.