Lithuania terminates tax treaty with Belarus
The Lithuanian parliament (Seimas) has passed the law to terminate the 1995 tax treaty with Belarus on 17 December 2024. Earlier, the Lithuanian government approved a draft law to terminate the treaty with Belarus on 13 November 2024. This
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Oman ratifies tax treaty with Luxembourg
The Sultan of Oman issued a royal decree 64/2024 ratifying the income and capital tax treaty with Luxembourg on 18 December 2024. Earlier, Luxembourg and Oman have signed an income tax treaty on 17 October 2024. HE Sheikh Dr Abdullah bin Salem
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Ireland: Revenue releases guidance on new tax deduction for stock exchange listing costs
The Irish Revenue published eBrief No. 302/24 on 6 December 2024, detailing a new corporation tax relief under Section 81D TCA 1997. Companies can claim up to EUR 1 million in tax deductions for expenses incurred in their first stock exchange
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Ireland: Revenue updates guidance on anti-hybrid rules
The Irish Revenue has released eBrief No. 303/24, providing updated guidance on anti-hybrid rules on 10 December 2024. The purpose of anti-hybrid rules is to prevent arrangements that exploit the differences in the tax treatment of an instrument
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Poland announces exemption from electronic submission of asset data
Poland’s Minister of Finance issued a regulation exempting most taxpayers (except those under Article 9(1d) of the corporate income tax law of 15 February 1992) from having to electronically submit fixed asset and intangible asset records for tax
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Hungary to launch small business VAT regime in 2025
The Hungarian tax authority has issued a notice on 10 December 2024 regarding the new Small Enterprises (SME) VAT scheme for small businesses under Council Directive (EU) 2020/285. The SME will take effect on 1 January 2025. Under the new scheme,
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Italy announces statutory interest rate for 2025Â
Italy has published the Decree of 10 December 2024 in the Official Gazette, which sets a 2.0% statutory (legal) interest rate (down from 2.5%) with effect from 1 January 2025. The statutory interest rate applies to interest income taxation as a
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Netherlands: Upper House approves 2025 Tax Plan, Pillar Two amendments
Netherlands’ Upper House of Parliament has passed 11 tax bills on 17 December 2024, which include the entirety of the 2025 Tax Plan package and amendments to 2025 Tax Plan, 2025 Tax Plan BES Islands, and Minimum Taxation Act (Amendment) Act
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Lithuania: Government approves ratification of tax treaty with Taiwan
The Government approved the draft Law for ratification of the tax treaty with Taiwan. The announcement was made by the Lithuanian Ministry of Finance on 11 December 2024. The agreement seeks to eliminate double taxation and to prevent tax evasion
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Switzerland: Parliament approves amending protocol to tax treaties with Germany, Serbia
Switzerland's Council of States approved protocols amending income and capital tax treaties with Germany and Serbia on 9 December 2024. Earlier, the Swiss Federal Council announced that it had adopted the dispatch on the protocol of amendment to
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Ireland: Central Bank warns US tax policy could swing government finances into a deficit
The Irish Central Bank has cautioned that changes in US tax policy could reduce corporate tax revenues from American companies operating in Ireland. In its quarterly bulletin, the bank noted that these firms contribute a substantial portion of
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Luxembourg: Government Council approves ratification of tax treaty with Colombia
Luxembourg's Government Council has approved the ratification of the income and capital tax treaty with Colombia on 13 December 2024. The agreement was signed on 19 January 2024. It seeks to eliminate double taxation with respect to taxes on
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Estonia: Parliament approves Security Tax Act
The Estonian Parliament (Riigikogu) has approved a new Security Tax Act (512 SE), designed to enhance the country’s defense capabilities through increased tax measures. The legislation introduces three key changes: A 2% increase in the
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Germany: MoF issues final decree on anti-hybrid rules
The German Ministry of Finance (MoF)Â released the final decree on the application of Germany's anti-hybrid rules on 5 December 2024, providing clarifications over the draft version published in 2023. The decree addresses how foreign controlled
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Ireland: Revenue updates DST tax manual
The Irish Revenue has released eBrief No. 301/24, which provides an update to the Tax and Duty Manual (TDM) Part 04-06-03, effective 5 December 2024. This update confirms Revenue's acceptance of certain Digital Services Taxes (DSTs) as deductible
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Luxembourg: Chamber of Deputies approve tax relief package
Luxembourg's Ministry of Finance has announced that the Chamber of Deputies approved Bill No. 8414, also known as the "Entlaaschtungs-Pak." Tax Relief Package on 11 December 2024. Finance Minister Gilles Roth welcomed the vote, stating: "We
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Greece announces new tax rules for venture capital mutual funds (AKES funds)
Greece’s Law 5162/2024 introduces amendments to the taxation framework for venture capital mutual funds governed by Law 2992/2002, known as AKES funds. New tax rules for venture capital mutual funds (AKES funds) AKES funds established on 1
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Latvia ratifies tax treaty with Andorra
Latvia has published the law approving the ratification of a new income and capital tax treaty with Andorra on 12 December 2024. Signed on 21 December 2024, this agreement is the first tax treaty between the two nations. The treaty seeks to
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