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

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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, “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

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Germany: MOF issues updated draft guidance on virtual currency transactions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On 6 March 2024, the German Ministry of Finance (MOF) released revised draft guidance concerning the compliance and documentation criteria for transactions involving virtual currency and tokens.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

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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

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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

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Netherlands: New income tax treaty signed with Bangladesh

March 13, 2024

On 12 March 2024, the Netherlands State Secretary for Tax Affairs Van Rij and Minister Abdul Hassan Mahmood Ali of Bangladesh signed a new bilateral tax treaty in Dhaka. This income tax treaty aims to avoid double taxation and further Dutch and

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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

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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

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Malta: Deadline extended for e-filing of corporate tax returns in 2024

March 07, 2024

On 28 February 2024, Malta’s Commissioner for Tax and Customs announced that it extended the deadlines for the electronic filing of income tax returns for companies in 2024. The updated deadlines for manual and electronic filing return deadlines

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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

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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

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Poland introduces draft legislation to enact pillar two global minimum tax

March 03, 2024

The Polish government announced that it has introduced a draft legislation for implementing the pillar two global minimum tax in Poland in accordance with the EU Minimum Tax Directive (Council Directive (EU) 2022/2523) of 14 December 2022. The

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Cyprus extends deadline for 2022 tax return and transaction summary table

March 01, 2024

On 23 February 2024, the Cyprus Tax Department announced the extension of the deadline for submitting the annual income tax return and summary information table (SIT) for the 2022 tax year. According to the announcement, the deadline has been

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Germany: MoF issues updated guidelines on permanent establishment criteria and remote work

February 28, 2024

On 5 February 2024, the German Ministry of Finance (MoF) issued revised instructions concerning the criteria for a permanent establishment (PE), as commonly outlined in section 12 of the General Tax Code for the purposes of domestic tax law.

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Malta to partly enact pillar 2 global minimum tax 

February 28, 2024

On 20 February 2024, Malta published Legal Notice No. 32 of 2024 in the Official Gazette, which outlines the provisions of the global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the European Union

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Cyprus extends deadline for 2022 transfer pricing documentation submission 

February 25, 2024

On 23 February 2024, the Cyprus Tax Department (CTD) issued a letter that clarified the extension of the deadline for submission of the income tax returns of companies obligated to submit the Table of Summarised Information (TSI) for 2022. The

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Greece proposes new law to implement EU minimum tax rules

February 25, 2024

On 23 February, 2024, the Greek Ministry of Finance initiated a public consultation on a proposed bill aiming to incorporate the OECD’s Pillar Two Model Rules, as outlined in the EU Minimum Tax Directive. This draft bill is currently open for

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Belgium: Parliament approves law for mandatory e-invoicing in 2026 

February 23, 2024

On 20 February 2024, the Belgian parliament passed the Law of 6 February 2024, which was published in the Official Gazette. The legislation amends the Value Added Tax Code and the Income Tax Code, making electronic invoicing compulsory from 1

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