Slovenia proposes amendments to Corporate Income Tax Act
Slovenia's Ministry of Finance announced the Draft Bill on Amendments to the Corporate Income Tax Act on 6 June, 2024. The bill simplifies the interest deduction limitation rules by eliminating the existing thin capitalisation rule while
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Poland: President approves national e-invoicing postponement
Andrzej Duda, President of Poland, has signed the Act on Value Added Tax (VAT), which delays the mandatory implementation of the National e-Invoice System (KSeF) from 1 July, 2024, to 1 February, 2026. Earlier, Poland’s Parliament passed an
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Czech Republic amends Income Tax Act following new accounting law
In response to the new draft Accounting Act, the Czech Republic's Ministry of Finance has issued a draft amendment to the Income Tax Act, proposing significant changes set to take effect starting 1 January, 2025. The Key amendments include
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Luxembourg approves amendments to Pillar Two tax rules
On 5 June, 2024, the Luxembourg Government Council approved a draft law to amend the Law of 22 December 2023. It introduces the Pillar Two income inclusion rule (IIR) and the undertaxed payment/profit rule (UTPR) in alignment with the Council
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Latvia initiates consultation on draft law to ease administrative burdens for taxpayers, authorities
Latvia's Ministry of Finance initiated a public consultation regarding amendments to a draft law "On Taxes and Fees" on 5 June, 2024. The draft law can be viewed on the Draft Legal Acts (TAP) portal. This legislation provides for a number of
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Georgia grants tax exemption on asset transfers from foreign enterprises
On 4 June, 2024, the Georgian Revenue Service published Law No. 4197-XIVмс-Xмп of 29 May 2024, which outlines changes to the Tax Code of Georgia related to tax exemptions for transferring assets to Georgia from foreign enterprises registered in
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Greece announces 2024 CbC report exchange partners
On 30 May 2024, the Greek Public Revenue Authority (AADE) has released Circular A.1083, dated 21 May 2024, outlining the jurisdictions that will exchange Country-by-Country (CbC) reports with Greece in 2024 for the 2022 fiscal year under the
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Lithuania: Government approves state defence fund and tax increases
The Lithuanian government has approved a resolution to establish the State Defense Fund, accompanied by several tax increases. The measures, set to take effect on 1 January 2025, include extending the temporary solidarity contribution on banks
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Czech Republic, UAE ratifies income tax agreement
The Czech Ministry of Finance, recently ratified the tax treaty with the United Arab Emirates. Effective starting 29 May 2024, the agreement aims to prevent double taxation. By reducing tax uncertainty and promoting fair taxation, the treaty will
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Slovenia proposes amendments to VAT Act
Slovenia's Ministry of Finance announced the Draft Bill on Amendments to the Value Added Tax Act on 6 June, 2024. The main measures of the bill states that the VAT registration threshold will be increased from EUR 50,000 to EUR 60,000; The
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Serbia releases 2024 arm’s length interest rates rulebook
Serbia’s Ministry of Finance has issued the rulebook on arm’s length interest rates for 2024. It was published in the official gazette on 31 May, 2024, and will take effect on 8 June, 2024. The rulebook sets distinct interest rates for
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Cyprus: Withholding tax declarations due by July
In an announcement on 4 June 2024, the Cyprus tax authority declared that the withholding tax and contributions declaration (TF 7) can be submitted without an administrative fine until 31 July 2024. After this deadline, penalties as per the law
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Hungary reports on Belarus tax treaty suspension
The National Tax and Customs Administration of Hungary issued a release on 3 June, 2024, concerning the Republic of Belarus's decision to suspend certain provisions of the 2002 tax treaty between the two nations. The suspension went into effect
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Latvia: Parliament passes draft law to partially implement Pillar Two GloBE rules
Latvia’s parliament approved the Law on Ensuring a Global Minimum Tax Level for Large Enterprise Groups on 6 June, 2024. The law now awaits the president's approval and publication in the Official Gazette to take effect. Earlier Latvia had
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Spain, Paraguay ratifies pending tax treaty
Paraguay announced in the Official Gazette the ratification of its pending income tax treaty with Spain on 29 May, 2024. Signed on 25 March, 2023, this treaty – double taxation agreement (DTA) – is the first between the two countries. It
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Bulgaria greenlights tax treaty negotiations with Australia
The Council of Ministers in Bulgaria authorised negotiations with Australia regarding an income tax on 29 May, 2024. The government of Australia is entering into new tax treaty negotiations as part of its expansion of the tax treaty
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Denmark to implement green tax reforms
The Danish Ministry of Taxation has announced the approval of two legislative proposals, L 182 and L 183, on 4 June, 2024. These legislations centre around the implementation of the green tax reforms. These legislations will be gradually
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Switzerland parliament ratifies tax treaty protocol with France
The Swiss Council of States (the upper house of parliament) announced that it ratified the pending protocol to the 1966 income and capital tax treaty with France on 30 May, 2024. The Switzerland-France protocol was first signed on 27 June, 2023,
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