Netherlands proposes Box Three tax reform
The Netherlands’ Ministry of Finance announced on 19 June, 2024, that it had submitted draft legislation to reform the taxation of Box Three income, which includes taxable income from taxable earnings from savings and investments. The draft
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Latvia publishes law for partial adoption of Pillar Two GloBE rules
Latvia published the Law on Ensuring a Global Minimum Tax Level for Large Enterprise Groups in the Official Gazette on 20 June, 2024. The law went into effect starting 21 June, 2024. As previously reported, Latvia had chosen to postpone the
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Portugal extends deadline for business tax filings
Portugal's Secretary of State for Fiscal Affairs announced a new directive, Order No. 29/2024-XXIV, on 14 June, 2024, granting businesses an extension to file their Simplified Business Information and Annual Declaration of Accounting and Tax
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Italy approves draft public CbCR legislative decree
Italy’s Council of Ministers passed the draft decree introducing Public Country-by-Country Reporting (PCbCR) on 10 June, 2024. It amends Directive 2013/34/EU of 26 June 2013 (Accounting Directive), which pertains to the reporting of income
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Czech Republic: Supreme Court rules on royalty beneficial ownership
The Czech Republic’s Supreme Administrative Court issued a ruling on the concept of beneficial ownership concerning royalty payments. The case centred around Avon Cosmetics Limited, a UK company based in Northampton, which granted sublicenses
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Germany approves Act to apply BEPS MLI to nine tax treaties
On 14 June 2024, the German Federal Council gave its approval for the Act on the Application of the Multilateral Agreement and Other Measures, which the Bundestag approved on 16 May 2024. This Act facilitates the implementation of the Multilateral
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Germany issues guidelines to combat tax havens
The German Ministry of Finance has released guidance on implementing the Tax Haven Defense Act, formerly the Act to Prevent Tax Avoidance and Unfair Tax Competition. This guidance introduces stringent measures to decrease business dealings with
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Netherlands urges businesses to switch to new portal by 1 July 2024
On 17 June, 2024, the Netherlands tax authority, in a release, reminded businesses that the old tax portal for managing tax affairs will be permanently closed on 1 July, 2024. All entrepreneurs who still use the old portal must switch to the new My
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Spain issues corporate and nonresident income tax forms for 2023
Spain’s Ministry of Finance has issued Order HAC/495/2024 in the official gazette (BOE), detailing the corporate income tax (CIT) and nonresident income tax (NRIT) return forms alongside associated refund or payment documents for tax periods
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Greece updates list of jurisdictions under AEOI-CRS
The Greek Public Revenue Authority (AADE) has announced an update with the publication of Circular A.1089, issued on 3 June 2024. This circular revises the lists of reportable and participating jurisdictions for the Automatic Exchange of Financial
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Malta implements public CbC reporting directive
Malta has implemented public Country by Country Reporting (CbCR) into domestic legislation (Act XVIII of 2024) on 17 May 2024. Multinational enterprises (MNEs) located in the EU and those outside the EU operating within the EU via a branch or
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Greece extends CIT filing deadline
On 13 June 2024, the Greek tax agency announced the new deadline for filing corporate income tax (CIT) returns, this announcement extends the deadline for submitting the corporate tax return (CIT) of 2023 to 26 July 2024. The usual deadline for 2023
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Austria: Parliament considers bill to amend tax laws
On 12 June 2024, Austria’s lower house of parliament approved Bill No. 2610 dB for consideration. This bill proposes key amendments to the Tax Amendment Act 2024. The bill focuses on three main measures: Deduction of grants for
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Denmark enacts law aligning tax rules with OECD standards
Denmark has enacted Law No. 684, published on 11 June, 2024, introducing amendments to align the Minimum Taxation Act with the OECD's model rules and guidelines for the Pillar Two global minimum tax. The law includes protection rules to prevent
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Germany releases draft regulation to implement e-invoicing for domestic B2B transactions
On 14 June 2024, Germany's Federal Ministry of Finance released a draft guidance on the mandatory implementation of electronic invoicing (e-invoicing) for domestic business-to-business (B2B) transactions, effective from 1 January 2025. Key Points
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Poland publishes DAC7 implementation act in the gazette
On 17 June 2024, Poland published the Act of 23 May 2024 amending the Act on the exchange of tax information with other countries and certain other acts in the Official Gazette. As previously reported, On 9 April 2024, Poland’s Council of
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Cyprus extends deadline for payment of central body fee for real estate transfers
In an announcement, the Cyprus tax authority, based on a new decision of the Tax Commissioner, the deadline for payment of the Fee of the Central Body of Equitable Burden Distribution without the imposition of monetary charges and interest has been
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Slovak Republic: Parliament dismisses fuel tax cut and depreciation options
On 18 June, 2024, the Slovak parliament rejected two proposed laws to temporarily reduce VAT and excise duty rates on gasoline and diesel from 1 July, 2024 to 31 December, 2025. Previously on 17 April, 2024, the Slovak parliament proposed a VAT
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