Bulgaria consults proposed tax amendments to align with EU laws, enhance VAT administration
The Bulgarian Ministry of Finance released proposals for amendments to the various tax legislations for public consultation on 18 September 2024. The proposed changes aim to align with European Union (EU) laws and enhance the administration of VAT
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Greece ratifies tax treaty with Japan
The Greek parliament approved the ratification of the income tax treaty with Japan on 18 September 2024. Signed on 1 November 2023, it is the first of its kind between the two nations. It will enter into force 30 days after the exchange of
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Kenya consults proposed tax treaty with Switzerland
Kenya's National Treasury has initiated a public consultation regarding the proposed income tax treaty with Switzerland, a public notice inviting comments was published on 11 September 2024. The tax treaty is aimed to prevent double taxation with
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Romania suspends tax treaty with BelarusÂ
Romania’s government approved a memorandum on 18 September 2024 suspending the 1997 income and capital tax treaty with Belarus. This decision comes in response to Belarus's suspension of specific articles of its tax treaties with 27 countries,
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Latvia considers temporary solidarity tax on credit institutionsÂ
Latvia's Ministry of Finance announced that it is developing a proposal for a temporary solidarity contribution from credit institutions to support national security on 18 September 2024. Solidarity contributions are planned to apply from 2025 to
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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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