Russia: MoF issues guidance on excess profits tax deduction
On 13 October 2023, the Russian Ministry of Finance (MoF) issued Guidance Letter No. 03-03-06/1/97405 outlining the process for calculating and paying excess profit tax. The letter specifies that taxpayers liable for the excess profit tax have the
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Russia: CBR raises key interest rate to 15%
On 27 October 2023, the Central Bank of Russia (CBR) increased its key interest rate from 13% to 15% to combat rising inflation in the country. Increasing domestic demand is exceeding the capacity to produce goods and services, leading to elevated
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Slovenia: MoF issues a draft bill to amend the corporate income tax law
On 17 October 2023, the Slovenian Ministry of Finance (MoF) issued a draft bill to amend the corporate income tax law. Once adopted by the Slovenian parliament the amendments will apply from 1 January 2024. The following amendments are
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Greece issues a draft bill on CbC reporting requirements for public consultation
On 19 October 2023, the Greek Ministry of Development issued a draft bill for consultation that provides for the introduction of public Country-by-Country (CbC) reporting in compliance with Directive (EU) 2021/2101. The bill conforms to the
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Dominican Republic: DGII publishes updated monthly withholding tax form
On 3 October 2023, the Dominican Republic's Directorate General of Internal Revenue (DGII) published Notice 21-23, introducing enhancements to Form IR-17. These adjustments primarily focus on refining the monthly reporting and payment procedures for
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Slovenia: Tax agency declares CbC reporting deadline
On 10 October 2023, the Slovenian Tax Agency (Financial Administration) declared that country-by-country (CbC) reports for the fiscal year ending on 31 December 2022 , submission is a mandatory requirement by 31 December 2023. Taxpayers must submit
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Zambia proposes the Budget for 2024
On 29 September 2023, the Minister of Finance and National Planning, the Honorable Situmbeko Musokotwane , presented the 2024 Budget Speech to the National Assembly of Zambia. Important tax measures proposed in budget include the following:
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Greece publishes draft Budget for 2024
On 2 October 2023, Greece submitted the 2024 draft budget to the parliament, which encompasses the following proposed modifications: The draft budget proposes raising the tax credit by EUR 1,000 for individuals who have one or more dependent
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Denmark: MoF issues draft bill to implement Pillar 2 global minimum tax
On 4 October 2023, the Danish Ministry of Finance (MoF) issued a draft bill for the implementation of the Pillar 2 global minimum tax rule in accordance with EU Council Directive 2022/2523 of 14 December 2022. The proposal seeks to establish a
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Japan: NTA publishes explanative guidance on global minimum tax
On 29 September 2023, the Japanese National Tax Agency (NTA) issued guidance on the income inclusion rule (IIR) under the OECD pillar two model which was introduced as part of the 2023 tax measures. The guidance explains how companies can use the de
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France: FTA publishes update guidelines on DAC6
On 13 September 2023, the French tax authorities (FTA) revised their DAC 6 administrative guidelines in order to provide further clarification on hallmark D.1.b. This particular hallmark relates to the automatic exchange of information and
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Bulgaria launches public consultation to implement Pillar 2 global minimum tax
On 26 September 2023, the Bulgarian Ministry of Finance released a draft law for the implementation of the Pillar 2 global minimum tax rule in accordance with EU Council Directive 2022/2523 of 14 December 2022. The draft law is currently subject
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France submits finance bill for 2024 including Pillar 2 global minimum tax
On 27 September 2023, the government of France presented the 2024 Finance Bill to Parliament. The bill aims to combat inflation, reduce the national debt and promote sustainable development. The Finance Bill includes a provision to implement the
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Austria: Ministry of Finance releases DAC6 reporting guidelines
On 12 September 2023, the Austrian Ministry of Finance published an updated guidance on the explanation and application of the rules of DAC6 in Austria. This update is a practical guide to understanding EU-MPfG compliance, based on questions and
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Greece extends tax filing deadlines in areas impacted by September floods
On 25 September 2023, the Greek government extended the deadlines for filing several tax declarations to 30 November 2023 for taxpayers affected by the September 2023 floods. This extension applies to taxpayers whose registered office, branch of
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Sweden proposes the budget bill for 2024
On 20 September 2023, the Swedish Government presented the budget bill for 2024 to the Swedish parliament. The government is facing a number of challenges, including high inflation, a recession, and a difficult security environment. The government
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Ecuador: SRI gazettes resolution amending transfer pricing rules
On 13 September 2023, Ecuador's Internal Revenue Service (SRI) issued Resolution No. NAC-DGERCGC23-00000025, which modifies the transfer pricing rules. The resolution includes following measures: Taxpayers who have conducted transactions with
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Lithuania takes steps to implement Pillar 2 global minimum tax
On 8 September 2023, the Ministry of Finance arranged a meeting with stakeholders to discuss the transposition of Pillar 2 global minimum requirements into Lithuanian law. As per an announcement during the meeting, Lithuania intends to delay the
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