Italy: Council of Ministers approve draft of consolidated tax payment code
Italy’s Council of Ministers preliminary approved a legislative decree on 17 September 2024, introducing a consolidated text for the code governing tax payments and collections. The text contains current provisions from different regulatory
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Slovak Republic approves draft bill with tax measures
The Slovak Republic government approved a draft legislation on 18 September 2024 amending various tax measures to consolidate the country's public finances. Taxation of high-income groups: The main changes include increased special levies for
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Greece abolishes stamp duty, introduces digital transaction tax
The Greek government has enacted a new law that removes stamp duty and introduces a digital transaction tax on 16 September 2024. This fee will apply to Greek residents and permanent establishments for various transactions, such as loans,
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Belgium postpones VAT declaration, payment reformsÂ
Belgium announced several amendments to the Belgian VAT Code, which were introduced by the Law of 12 March 2024. The amendments were initially set to take effect on 1 January 2024, but have been postponed to 1 January 2025. The changes in the VAT
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Poland issues goodwill depreciation guidelines
Poland’s Ministry of Finance issued a guidance, on 12 September 2024, clarifying that goodwill acquired through non-monetary means – such as acquiring a business by extinguishing a loan – cannot be depreciated for corporate income tax purposes
See MoreItaly issues decree on public CbC reporting
Italy issued Legislative Decree No. 128 of 4 September 2024 in the Official Gazette, implementing Public Country-by-Country Reporting (PCbCR), on 12 September 2024. Earlier, Italy’s Council of Ministers passed the draft decree on 10 June
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Poland approves draft legislation to simplify VAT obligations for small businesses
Poland's Ministry of Finance announced that it has approved a draft bill aimed at simplifying and modifying VAT regulations for small businesses on 10 September 2024. The legislation aims to simplify administrative obligations by introducing the
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Lithuania: President approves law to end tax treaty with Russia
Lithuania’s President, Gitanas Nausėda, approved a draft law for terminating the 1999 tax treaty with Russia, which was submitted to the parliament for consideration on Monday, 16 September 2024. According to the treaty's stipulations, a
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Finland consults tax credits for major industrial investments in net-zero transition
Finland's Ministry of Finance has initiated a public consultation regarding a tax credit aimed at large industrial investments that facilitate the transition to a net-zero (climate-neutral) economy. The government decided on the preparation of the
See MoreItaly approves income tax treaty with Libya
Italy’s Senate ratified the pending income tax treaty with Libya on 11 September 2024. Signed on 10 June 2009, this agreement is the first between the two nations, and aims to promote economic cooperation and avoid double taxation between the
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Netherlands reveals 2025 budget and tax planÂ
Netherlands’ State Secretary for Tax Affairs and the Tax Administration, Folkert Idsinga, presented the 2025 Budget including the 2025 Tax Plan to the House of Representatives on Tuesday, 17 September 2024. The package contains a range of
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Portugal approves draft law for Pillar Two global minimum tax
Portugal's Council of Ministers approved Draft Law 21/XVI/1 for implementing the Pillar Two global minimum tax, in line with Council Directive (EU) 2022/2523 of 14 December 2022 on 11 September 2024. The draft law introduces the Pillar Two income
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Germany, Latvia: Amending protocol to tax treaty enters into force
The updated protocol to the Germany-Latvia income and capital tax treaty came into effect on 23 June 2024, as reported by the Latvian online legal information database. The protocol, signed in Riga on 29 September 2022, will apply from 1 January
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Bulgaria: Cabinet approves intent to sign STTR MLI
Bulgaria’s Council of Ministers approved a letter of intent to join the Multilateral Convention for Implementing the Pillar Two Subject to Tax Rule (STTR MLI) on 11 September 2024. The signing ceremony for the STTR MLI is set to take place on
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Ireland: Tax appeals commission allows withholding tax deduction on dividends before 2019 Finance Act amendment
The Irish Tax Appeals Commission published a determination regarding the deduction of withholding tax on received foreign dividends on 10 September 2024. The particular issue that falls to be determined was whether foreign withholding taxes,
See MoreItaly reapproves tax treaty with ChinaÂ
The Italian Senate reapproved the law to ratify the pending tax treaty with China on 11 September 2024. First approved in 2020, this law required reapproval after a new government came into power in 2022. The income tax treaty between Italy and
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Netherlands consults revised VAT bill for immovable property services
The Netherlands’ Ministry of Finance released an updated draft bill for public consultation, on 6 September 2024, regarding changes to the value-added tax (VAT) on services related to immovable property. This includes properties such as buildings
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Spain implements new rules for VAT self-assessment corrections
The Spanish BoletÃn Oficial del Estado (BOE) published Order HAC/819/2024, dated 30 July, which introduces necessary changes to VAT form 303 for implementing self-assessment corrections in VAT on 5 August 2024. Order HAC/819/2024, of 30 July,
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