Netherlands waives e-commerce fines until January 2025
The Netherlands State Secretary for Finance, Eelco Heinen, in Decree No. 2024-16101 of 16 July 2024, announced that administrative fines for VAT e-commerce defaults will be waived until 1 January 2025. With the entry into force of the
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European Commission ends probe into Hungary advertisement tax
The European Commission announced in a report on 26 July 2024 that it closed its in-depth investigation, which opened in March 2015, into the Hungarian advertisement tax. In November 2016, the Commission found that the Hungarian advertisement
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Ireland: Revenue issues eBrief on updated interest charges for late tax payments
Irish Revenue has released eBrief No. 198/24, detailing updated guidelines for charging interest on late payments of income tax, corporation tax, capital gains tax, VAT, and other taxes on 15 July 2024. Revenue supports voluntary compliance by
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France updates interest deduction rates for shareholder loans
The French tax authority has updated the interest rates used to define the deductibility of interest payments made to shareholders. These updates are pertinent to companies with fiscal years ending between 30 June 2024 and 29 September
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Netherlands imposes temporary tax on electricity producers excess income
The Netherlands enacted the Temporary Inframarginal Electricity Tax Act of 17 July 2024, introducing a temporary tax on the surplus income of electricity producers. The Act was published in the Official Gazette on 24 July 2024. On the same
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Cyprus approves all Pillar Two safe harbours, administrative guidance
The Cyprus Ministry of Finance, in a release, announced that Cyprus has agreed to all safe harbours and administrative guidance provided by the BEPS Inclusive Framework concerning the Pillar Two Global Minimum Tax (GloBE rules). The release
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Portugal appoints committee to revamp tax procedures
As part of tax measures introduced by Portugal’s 24th constitutional government, the Portuguese Minister of Finance, Joaquim Miranda Sarmento, on 25 July 2024, established a Commission tasked with reviewing and proposing a comprehensive reform of
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Greece: MoF extends tax return deadlines
Greece’s Ministry of Finance has announced an extension for filing personal and corporate income tax returns, moving the deadline to 2 August 2024 for individuals and 9 August 2024 for legal entities. This decision was made due to technical
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Luxembourg adopts draft grand-ducal regulation on tax credits and minimum taxation
Luxembourg's Council of Ministers took a step by adopting a draft Grand-Ducal regulation concerning tax credits and qualified holdings under the Minimum Taxation Law (MTL) On 24 July 2024, which implements the EU's Minimum Taxation Directive
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Italy: Council of Ministers approves decree on minor taxes, tax penalties
Italy’s Council of Ministers tentatively approved a legislative decree on 22 July 2024 that outlines a consolidated text on minor state taxes under Article 21 of Law 9 August 2023, no. 111. The text aims to precisely identify the current rules by
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Bulgaria approves pending CbC report exchange agreement with the US
Bulgaria's Council of Ministers approved the pending Intergovernmental Agreement (IGA) with the US regarding the exchange of Country-by-Country (CbC) reports. Bulgaria’s Ministry of Finance signed a country-by-country (CbC) exchange agreement
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Netherlands ratifies pending Curacao-Malta tax treaty
The Netherlands published the Law of 27 July 2024 in the official gazette, on 25 July 2024, ratifying the pending income tax treaty between Curaçao and Malta. The treaty aims to prevent double taxation and eliminate fiscal evasion regarding income
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Netherlands: Curaçao, Suriname sign tax treaty
The Netherlands announced in the Official Gazette on 25 July, 2024, that it signed a tax treaty to prevent double taxation between Curaçao and Suriname. As a constituent country of the Kingdom of the Netherlands, Curaçao can negotiate bilateral
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Austria enacts Tax Amendment Act 2024
Austria has enacted the Tax Amendment Act 2024, the law was published as Law No. 113 in the Austrian Official Gazette on 19 July 2024. The Tax Amendment Act 2024 came into effect on 20 July, 2024. Key highlights Country-by-Country
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Greece imposes 33% solidarity contribution on energy and mining sectors
Greece has introduced a new temporary solidarity contribution targeting companies in the energy and mining sectors, set at a rate of 33%, in line with European Council Regulation (EU) 2022/1854. This measure is outlined in Bill 5123/2024, enacted
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Luxembourg proposes corporate tax cuts, incentives to boost economy
Luxembourg's Finance Minister Gilles Roth presented a Bill n° 8414 to the parliament on 17 July 2024, aiming to reduce corporate income tax (CIT) rate and implement various tax relief measures. The proposed changes are designed to enhance the
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Belgium updates transfer pricing documentation forms, filing requirements
Belgium has published three new Royal Decrees of 16 June 2024 on 15 July, 2024, announcing revisions to the Local File Form (275. LF), the Master File Form (275. MF), and Country-by-Country Reporting (“CbCR”) Notification Form (275 CBC
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Italy confirms capital gains exemption for EU/EEA funds
In accordance with the 2021 Finance Law, Italy has established a 0% withholding tax rate on dividends sourced from Italy when received by EU/EEA entities, specifically funds regulated under the UCITS IV Directive or non-UCITS funds managed by firms
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