Ecuador announces VAT exemption for pet food from February 2025
The Ecuadorian Internal Revenue Service (SRI) announced that pet food, including nutritionally balanced dry and wet food, will be exempt from VAT on 30 January 2025. This applies to both imported and locally purchased products, as they are
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Hungary raises VAT exemption limit to HUF 18 million for small businesses
Hungary’s tax authority has published guidance on increasing the VAT exemption threshold for small businesses from HUF 12 million to HUF 18 million. The increase was established by Government Decree No. 5/2025 and published in the Official
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Lithuania proposes further VAT rule amendments for small businesses
The Ministry of Finance has made further amendments to the Law on Value Added Tax (VAT), refining previous proposals and enhancing alignment with EU Directive 2022/542 on 27 January 2025. The amendments include key updates such as the expansion
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Venezuela further extends temporary VAT exemption on hydrocarbon fuels
Venezuela has published Decree No. 5.079 in Official Gazette No. 43.044 on 10 January 2025, extending a temporary exemption from VAT, customs duty, and other taxes on the import and sale of hydrocarbon fuels as well as inputs and additives to
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Denmark gazettes law amending VAT Act, exempts taxation of services provided by authors and artists
Denmark’s Official Gazette published Law No. 1695 on 30 December 2024 which amends the country's Value Added Tax (VAT) Act to address the taxation of services provided by authors and artists, including performing artists, related to their
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Azerbaijan amends tax code: Cuts branch profit tax, introduces new corporate tax and VAT exemptions
Azerbaijan has approved several amendments to the Azerbaijan Tax Code on 27 December 2024. Key amendments include a reduction of branch profit tax rate, new corporate income tax exemptions, and revised transfer pricing penalties. Reduction of
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EU approves e-tax certificate for VAT exemptions
The Council of the EU has announced that a political agreement has been reached regarding a new directive paving the way for the introduction of an electronic tax certificate for VAT exemptions on 10 December 2024. "As part of the EU's efforts to
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Germany: Annual Tax Act 2024 enters into force
Germany’s Annual Tax Act 2024 (Jahressteuergesetz 2024) entered into force on 6 December 2024 following its publication in the Official Gazette (BGBl. I 387/2024) on 5 December 2024. This Act introduces several tax amendments, including revised
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Poland announces 2025 investment incentives, thresholds for reduced corporate tax and VAT
Poland has announced new thresholds for various tax regimes for small taxpayers in 2025. These include a reduced corporate tax rate, an investment incentive deduction, a simplified VAT regime, and a flat-rate tax. The new thresholds for reduced
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Germany approves Annual Tax Act 2024, introduces VAT amendments for small enterprises
Germany’s Federal Council (Bundesrat), or the upper house of parliament, has approved the Annual Tax Act 2024 on 22 November 2024. This Act includes various tax amendments, particularly VAT exemptions thresholds for small businesses among
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Italy ends VAT exemption on staff secondment
Italy published Law No. 166 of 14 November 2024 in the Official Gazette which stipulates that the loan or secondment of staff is not considered a taxable supply for VAT purposes if the recipient solely reimburses the salary and associated
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EU issues new guidance on VAT for small businesses
European Commission, on 11 November 2024, released the Guide to the SME scheme and explanatory notes for the updated Small Enterprise Scheme (SME scheme), which will take effect on 1 January 2025. This guide aims to provide a better understanding
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Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
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Croatia rules formation of new company to retain of VAT exemption for small businesses exploitative
The Court of Justice of the European Union (CJEU) ruled in case C-171/23 (UP CAFFE) on 4 October 2024. As per the ruling, forming a new company to retain the VAT exemption for small enterprises after the previous company conducted the same
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Hungary to amend local and EU tax laws, achieve social and policy objectives
Hungary’s government concluded a public consultation on a draft bill proposing changes to various tax laws on 24 October 2024. The proposal seeks to amend tax laws in response to EU and Hungarian legislation changes, targeting global minimum tax,
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Portugal proposes several VAT measures in draft state budget law 2025
Portugal released the state budget law for 2025 (Law No. 26/XVI/1) on 10 October 2024, proposing various VAT measures. The draft Budget Law for 2025 proposes reduced corporate tax rates for companies and SMEs and revised personal income tax rates,
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Argentina dissolves tax authority, removes select VAT exemptions
Argentina’s government announced in a release on 21 October 2024 that the Federal Administration of Public Revenue (Administración Federal de Ingresos Públicos —AFIP) will be abolished, and the Tax Collection and Customs Control Agency
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Morocco: 2025 draft finance law introduces new tax rules for joint ventures and economic groups
Morocco’s Ministry of Finance released the draft Finance Law 2025 on 19 October 2024, proposing various measures for corporate income tax, focusing on taxing joint ventures and economic interest groups. Corporate tax rules change for joint
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