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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Cyprus issues public consultation on draft legislation implementing GloBe rules
On 10 October 2023, the Ministry of Finance introduced a harmonizing bill entitled "Ensuring a Global Minimum Level of Taxation of Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union Act of 2023" and invited stakeholders for
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Argentina introduces new advance tax payment for financial services companies
On 28 September 2023, the Argentine Federal Tax Authority (AFIP) released General Resolution No. 5424/2023 (the Resolution), introducing a new income tax prepayment requirement for companies primarily engaged in "Financial Intermediation and
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Finland proposes minimum tax law in parliament
On 19 October 2023, the Government of Finland formally introduced domestic legislation in parliament for implementing the European Union’s (EU) Minimum Tax Directive-Pillar 2. According to this directive, large multinational (MNE) groups must pay
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Ukraine proposes to temporarily double the corporate income tax rate for banks
On 19 October 2023, the Ukrainian Parliament (Verkhovna Rada) passed Draft Law 9656-d in the first reading. Accordingly, Ukraine proposes to temporarily double the corporate income tax rate from 18% to 36% for banks for tax periods starting from 1
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Hungary: MoF initiates public consultation regarding a draft bill on pillar two
On 17 October 2023, Hungary’s Ministry of Finance initiated a public consultation process regarding a draft law for implementing the corporate minimum tax under Pillar 2 as per the Council Directive (EU) 2022/2523 of 14 December 2022. The
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Italy: Council of Ministers passes draft Budget for FY 2024-2026
On 16 October 2023, Italy's Ministry of the Economy and Finance declared the Council of Ministers' approval of the 2024-2026 draft budget bill. The key proposals include: The plastic and sugar tax will remain suspended until 1 July 2024;
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Belgium: Federal Government agrees on budget measures for FY 2024
On 9 October 2023, the Belgian government agreed on Budget measures for the fiscal year 2024. Here is a broad summary of the key tax measures in the budget agreement, as announced by the finance minister. The proposed key measures are
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Chile declares revised tax return deadlines for 2024
On 4 October 2023, the Chilean federal tax agency published Resolution No. 116 with revised filing deadlines of different forms for the 2024 tax year. The deadlines of forms are as follows: March 1: Forms 1811, 1822, 1834, 1891, 1900, 1902,
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Australia seeks feedback on amendments to interest limitation rules
On 18 October 2023, the Australian Treasury Department opened a consultation on an exposure draft bill to amend the interest limitation rules. As part of the 2022-23 Budget, an integrity measure was announced to address risks to Australia’s
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Mexico unveils tax incentives for key export sectors
On 11 October 2023, the Mexican government published a Decree in the Official Gazette offering tax incentives to vital sectors of the export industry. The Decree came into force on 12 October 2023. Eligible taxpayers Companies that manufacture
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Portugal: Government presents 2024 draft budget bill to the Parliament
On 10 October 2023, the government of Portugal presented the draft Budget Bill for 2024 to the parliament. The budget includes changes in corporate income tax, personal income tax, and indirect taxation. The key tax measures of the budget are as
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Malaysia announces tax proposals for 2024 Budget
On 13 October, Malaysian Prime Minister and Finance Minister Anwar Ibrahim tabled the government’s 2024 budget. The budget includes tax proposals related to corporations such as: Capital gains tax on disposal of unlisted shares: In line
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Czech Republic: Chamber of Deputies passes tax reform bill
On 13 October 2023, the Czech Chamber of Deputies approved a tax reform bill that would consolidate the two reduced rates of value-added tax (VAT) and increase the corporate tax rate. The draft law on the consolidation of public budgets includes
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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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Poland lowers late payment interest rates
On 4 October 2023, the Monetary Policy Council of the National Bank of Poland decided to lower interest rates, effective 5 October 2023. This decision will lead to a reduction in the interest rates applicable to tax arrears and late payments, as
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The Australian Taxation Office (ATO) has reminded taxpayers about the importance of registering eligible R&D activities within 10 months from the end of the income year to claim the R&D Tax Incentive. To claim the R&D Tax Incentive
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Ireland: Finance Minister presents 2024 Budget to the Parliament
On 10 October 2023, Mr. Michael McGrath, the Minister for Finance of Ireland presented the 2024 Budget to the Parliament. The main tax measures proposed in the 2024 Budget include: OECD Pillar Two The Minister announced that the upcoming
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