Ghana negotiates tax treaties with Hungary, Israel, UAE, Korea, Egypt
Ghana announced that it is negotiating to establish income tax treaties with Hungary, Israel, UAE, Korea, and Egypt. Daniel Nuer, Head of the Tax Policy Unit at Ghana's Ministry of Finance, revealed that the Ministry plans to implement
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Czech Republic: Finance Ministry proposes 9% deficit cut in 2025 budget
The Czech Republic’s Ministry of Finance has presented the government the draft 2025 budget that reduces the deficit by 9% on 1 September 2024. The proposal promises significant investments while reducing the fiscal gap to 2% of the gross
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Luxembourg details certificate requirements for investment tax credit
Luxembourg’s Minister of Finance has introduced a new decree specifying the data required on certificates for claiming the investment tax credit under Article 152bis of the Income Tax Act. The decree was published in Official Gazette No. A380
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Germany unveils Future Financing Act II to boost capital market
Germany's Ministry of Finance unveiled a second draft bill, the Zukunftsfinanzierungsgesetz II (Future Financing Act II), aimed at further enhancing the German capital market on 27 August 2024. Building on the previous Future Financing Act, this new
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Bosnia and Herzegovina implements advance tax ruling regulations
The Federal Ministry of Finance has implemented changes to the regulations governing advance tax rulings within the Federation of Bosnia and Herzegovina. Under the revised regulations, a standard template has been introduced for taxpayers seeking
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EU launches anti-dumping probe on Chinese bicycle imports
The European Commission is set to launch an anti-dumping investigation into bicycle imports from China. This inquiry stems from a complaint filed by the European Bicycle Manufacturers Association (EBMA) on 24 May 2024. The complaint alleges that
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Slovak Republic considers extending solidarity contribution for oil, gas sectors
Slovak Republic parliament has accepted a draft bill for consideration proposing to extend the temporary solidarity contribution on the crude petroleum, natural gas, coal, and refinery sectors. Originally set to apply to profits from fiscal years
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Ireland updates R&D relief guidance
Irish Revenue has updated the guidance on relief for key employees involved in R&D activities, detailed in eBrief No. 228/24, on 27 August 2024. This relief permits employees to benefit from the R&D tax credit or any excess R&D
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Czech Republic revises list of jurisdictions for automatic financial information exchange
The Czech Republic has released Financial Bulletin No. 6/2024, which offers an updated roster of contracting states and jurisdictions engaged in the automatic exchange of financial account information under the OECD Common Reporting Standard (CRS).
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OECD reports advances on harmful tax practices in Armenia, Bulgaria, Croatia, Eswatini, and Hong Kong
The OECD released an announcement on 27 August 2024 highlighting that jurisdictions have made further progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This is evidenced by
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Ireland releases second consultation feedback on participation exemption for foreign dividends
Ireland's Department of Finance has released a second feedback statement for consultation on implementing a participation exemption for foreign-sourced dividends on 27 August 2024. Minister Chambers publishes second feedback statement on
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Poland: No new property taxes on solar farms and installations
Poland’s Ministry of Finance clarified in a notice on 21 August 2024 that it has no plans to introduce new real estate taxes on photovoltaic farms and installations. The proposed amendments to the Act on Local Taxes and Fees seek to maintain
See MoreCzech Republic proposes amendment to top-up tax for implementing global minimum tax directive
Czech Republic’s Ministry of Finance released a draft amendment to introduce a top-up tax, aligning with the EU directive on global minimum tax that took effect on 31 December 2023. The amendment to the top-up tax act seeks to clarify specific
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Romania proposes RO E-VAT compliance notice
Romania’s tax authority published a draft bill on 20 August 2024 regarding the layout and content of the RO e-VAT compliance notice. Romania’s government published a draft bill on 27 June 2024, detailing revisions to the layout and content of
See MoreEuropean Commission launches anti-dumping probe on Chinese steel track shoe imports
The European Commission is set to launch an anti-dumping investigation into steel track shoe imports from China. The Notice of initiation of an anti-dumping proceeding concerning imports of steel track shoes originating in the People's Republic of
See MoreIreland updates tax manual on employer-provided vehicles
Irish Revenue updated the tax and duty manual on employer-provided vehicles detailing the tax implications when an employer provides a vehicle for an employee's private use. The notice was published in eBrief No. 219/24. The updates are as
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Denmark, Greenland sign amending protocol to tax treaty
Denmark and Greenland have signed an amending protocol to update the Denmark-Greenland Income Tax and Mutual Assistance Treaty (1979) on 19 August 2024. The announcement was made by the Danish Ministry of Taxation on 20 August 2024 The new
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Greece, Moldova to negotiate tax treaty amendment
Moldova has authorised the negotiation of an amending protocol to the 2004 income and property tax treaty with Greece on Thursday, 22 August 2024. The authorisation – Decree No. 1591-IX of 16 August 2024 – was published in the Official
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