Estonia: Preliminary bill for public CbC reporting submitted to parliament
On 12 February 2024, a draft bill was introduced to the Estonian Parliament to incorporate the EU Public Country-by-Country (CbC) Reporting Directive into Estonian legislation. The parliament acknowledged there are a limited number of companies that fall under the scope of the existing EU Public
Read MoreUK Treasury publishes 2024 spring finance bill
On 14 March 2024, the UK HM Treasury declared that it had published the Spring Finance Bill (Finance No. 2 Bill). This bill includes various provisions concerning the Spring Budget 2024 and other related measures. The 2024 Spring Finance Bill aims
Read MoreCyprus issues draft legislation to enact pillar two global minimum tax rules
The Ministry of Finance of Cyprus has released the draft legislation, “The Safeguarding of a Global Minimum Level of Taxation of Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union Law of 2023". This draft legislation is
Read MoreTax Treaty Brief: February 2024
France and Moldova On 25 January 2024, the French lower house of parliament approved the Double Taxation Agreement (DTA) with Moldova. Rwanda and Jordan On 25 January 2024, the Rwandan Cabinet gave its approval to the draft law for
Read MoreOECD releases updated BEPS MLI matching database
Recently, the OECD has released the updated version of BEPS MLI Matching Database including significant improvements that will enhance user experience and provide additional features to support the implementation and application of the BEPS MLI. One
Read MoreIMF Report Discusses the Economy of Slovenia
On 30 January 2024 the IMF issued a report following discussions with Slovenia under Article IV of the IMF’s articles of agreement. The Slovenian economy has recovered from the pandemic but has been affected by the war in Ukraine. Following a
Read MoreIMF Comments on UK Fiscal Position
On 30 January 2024 the IMF held a press briefing on the latest update to the World Economic Outlook. During the press briefing Pierre-Olivier Gourinchas, the Chief Economist and Director of the Research Department at the IMF, responded to
Read MoreOECD releases ICAP statistics
On 29 January 2024 the OECD released the first aggregated statistics from the Forum on Tax Administration’s International Compliance Assurance Programme (ICAP). ICAP The ICAP is a voluntary risk assessment and assurance program whose
Read MoreUK: Taxpayer Perceptions of Third Party Educational Messaging
On 25 January 2024 HMRC published the results of research that was commissioned by them in relation to customer perceptions of third party educational messaging. HMRC is considering the value of educational messaging via third party intermediary
Read MoreCorporate Tax
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UN: ECOSOC Special Meeting on International Cooperation in Tax Matters
March 18, 2024
On 18 March 2024 the ECOSOC Special Meeting on International Cooperation
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UAE launches public consultation on pillar 2 GloBe rules
March 18, 2024
The UAE Ministry of Finance (MoF) announced that it had launched a public
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Cyprus issues draft legislation to enact pillar two global minimum tax rules
March 15, 2024
The Ministry of Finance of Cyprus has released the draft legislation,
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El Salvador offers tax exemption for foreign investments and money transfers
March 15, 2024
On 13 March 2024, the Legislative Assembly of El Salvador announced that
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Italy announces new corporate tax return deadline
March 14, 2024
Italy has announced new guidelines and procedures for corporate tax return
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Nigeria: FIRS launches self-registration feature on its e-platform
March 13, 2024
On 11 March 2024, the Federal Inland Revenue Service (FIRS) of Nigeria
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New Zealand parliament approves enforcement of pillar 2 global minimum tax rules from 2025
March 13, 2024
On 11 March 2024, the Finance and Expenditure Committee of the New Zealand
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UAE: Dubai announces 20% corporate tax on foreign banks
March 10, 2024
On 7 March 2024, Dubai, one of the seven states of the UAE, announced that
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Pillar Two: Global minimum tax implementation status globally
March 08, 2024
In October 2021, over 135 jurisdictions joined OECD’s two-pillar
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Australia: ATO announces GIC and SIC rates for Q3 2023-24
March 08, 2024
On 4 March 2024, the Australian Taxation Office (ATO) announced the
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Transfer Pricing
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Estonia: Preliminary bill for public CbC reporting submitted to parliament
March 18, 2024
On 12 February 2024, a draft bill was introduced to the Estonian Parliament to incorporate the EU Public Country-by-Country (CbC) Reporting Directive into Estonian legislation. The parliament acknowledged there are a limited number of companies that fall under the scope of the
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Germany: MOF issues updated draft guidance on virtual currency transactions
March 15, 2024
On 6 March 2024, the German Ministry of Finance (MOF) released revised draft guidance concerning the compliance and documentation criteria for transactions involving virtual currency and tokens. This comes after the issuance of a final decree in May 2022 regarding income tax
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Germany: Tax authority publishes list of jurisdictions for automatic exchange of financial account information
March 14, 2024
On 1 March 2023, the German Federal Central Tax Office released the preliminary list of jurisdictions participating in the exchange of financial account information according to the Common Reporting Standard (CRS) for the year 2024, pertaining to the year 2023. The list
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Italy announces new corporate tax return deadline
March 14, 2024
Italy has announced new guidelines and procedures for corporate tax return filings for 2024 regarding the tax year 2023. The main change relates to the revised deadline for filing returns as per the corporate tax (IRES) returns. The new instructions specify that the return
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Cyprus announces 2024 reference rates for notional interest deduction
March 10, 2024
On 7 March 2024, the Cyprus Tax Department announced the release of reference rates for 2024 that will be used to calculate the notional interest deduction (NID) on new equity investments. According to regulations, the NID rate is equivalent to the 10-year government bond yield
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Canada: CRA releases new circular on advance pricing arrangements (APAs)
March 09, 2024
On 22 February 2024, the Canada Revenue Agency (CRA) released the Information Circular 94-4R2 on International Transfer Pricing: Advance Pricing Arrangements (APAs). This circular offers detailed guidance on APAs, focusing on the prerequisites for taxpayers to participate in the
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Malta publishes guidance note on pillar 2 global minimum tax
March 08, 2024
Malta's Commissioner for Revenue released a Guidance Note on the European Union Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups Regulations 2024. This guide clarifies Malta’s partial transposition of Council Directive (EU)
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Netherlands releases decision on public CbC reporting
March 06, 2024
On 1 March 2024, the Netherlands released the Decision of February 14, 2024, concerning the enforcement of the Directive (EU) 2021/2101. As previously stated, the Netherlands approved a law for public CbC reporting in December 2023 to partially implement Council Directive (EU)
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Bolivia defers deadline for submitting and paying financial transaction tax
March 05, 2024
On 4 March 2024, Bolivia’s tax authority, the National Tax Service (Servicio de Impuestos Nacionales), released the RND N°102400000007. In this guidance, the tax authorities have extended the deadline for submitting affidavits and paying taxes for the financial transaction
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Latvia revises domestic list of tax-free or low-tax jurisdictions
March 05, 2024
On 28 February 2024, the Latvia Ministry of Finance released the updated domestic list of tax-free or low-tax jurisdictions. The renewed list went into effect on 1 March 2024. In the updated list, Latvia removed Belize, Bahamas, Seychelles, Turks and Caicos Islands from its
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Most Read
UK: HMRC announces public consultation on draft guidance on new rules for R&D tax reliefs
On 9 February 2024, the UK HMRC announced the public consultation on the draft guidance, which provides modifications to the Research and Development
Read MoreSwitzerland releases Q&A guidance on application of transfer pricing rules
On February 23, 2024, the Swiss Federal Tax Authorities (SFTA) published the Q&A guidance regarding the application of transfer pricing
Read MoreBangladesh: Budget for FY 2023-24
On 1 June 2023, the Finance Minister, Mr. AHM Mustafa Kamal presented the budget in parliament for the fiscal year 2023-24, aiming to accelerate
Read MoreNamibia announces 2024/25 budget with new tax measures
On 28 February 2024, Namibia delivered the 2024/25 Budget. The key tax provisions in the budget statement include: Individual income tax The
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