Estonia announces security tax, delays tax-free income increase
Estonia's new coalition government, formed by Prime Minister Kristen Michal, has published details of the Coalition Agreement 2024-2027, which was approved on 22 July 2024. One of the key tax measures proposed in the agreement is the introduction of
See More
Italy clarifies tax rules on capital gains for non-resident entitiesÂ
Italian tax authorities published Circular No. 17/E of 29 July 2024, clarifying the tax treatment of qualifying capital gains earned by non-resident entities. The Circular was released following the amendments introduced by the Budget Law for
See More
EU announces public consultation on CbC reporting templates, formats
The European Commission (EC) initiated a public consultation regarding a standardised template and electronic formats for public country-by-country (CbC) reports on 1 August, 2024. Under this initiative, large multinational corporations operating
See More
Greece: MoF proposes 3% tax discount for early lump-sum payments
The Greek Ministry of Finance (MoF) has proposed extending the 3% discount for lump-sum personal income tax (PIT) payments until 2 August 2024. Originally, the discount was only available for payments made by the initial filing deadline of 31
See More
Romania gazettes details of prefilled VAT returnsÂ
Romania’s government has issued Order no. 3775/2024, which approves the layout and content of the prefilled VAT return. The Order No. 3775/2024 was published in Official Gazette No. 726 on 24 July 2024. Earlier, the government published a
See More
Spain, Paraguay tax treaty enters into force
The Spain and Paraguay tax treaty will enter into force on 14 October 2024. Signed on 25 March 2023, the treaty will generally take effect on 14 October 2024 for other taxes and on 1 January 2025 for taxes assessed both on and off a fiscal year
See More
Netherlands waives e-commerce fines until January 2025
The Netherlands State Secretary for Finance, Eelco Heinen, in Decree No. 2024-16101 of 16 July 2024, announced that administrative fines for VAT e-commerce defaults will be waived until 1 January 2025.  With the entry into force of the
See More
European Commission ends probe into Hungary advertisement tax
The European Commission announced in a report on 26 July 2024 that it closed its in-depth investigation, which opened in March 2015, into the Hungarian advertisement tax. In November 2016, the Commission found that the Hungarian advertisement
See More
Ireland: Revenue issues eBrief on updated interest charges for late tax payments
Irish Revenue has released eBrief No. 198/24, detailing updated guidelines for charging interest on late payments of income tax, corporation tax, capital gains tax, VAT, and other taxes on 15 July 2024. Revenue supports voluntary compliance by
See More
France updates interest deduction rates for shareholder loans
The French tax authority has updated the interest rates used to define the deductibility of interest payments made to shareholders. These updates are pertinent to companies with fiscal years ending between 30 June 2024 and 29 September
See More
Netherlands imposes temporary tax on electricity producers excess income
The Netherlands enacted the Temporary Inframarginal Electricity Tax Act of 17 July 2024, introducing a temporary tax on the surplus income of electricity producers. The Act was published in the Official Gazette on 24 July 2024. On the same
See More
Cyprus approves all Pillar Two safe harbours, administrative guidance
The Cyprus Ministry of Finance, in a release, announced that Cyprus has agreed to all safe harbours and administrative guidance provided by the BEPS Inclusive Framework concerning the Pillar Two Global Minimum Tax (GloBE rules). The release
See More
Portugal appoints committee to revamp tax procedures
As part of tax measures introduced by Portugal’s 24th constitutional government, the Portuguese Minister of Finance, Joaquim Miranda Sarmento, on 25 July 2024, established a Commission tasked with reviewing and proposing a comprehensive reform of
See MoreGreece: MoF extends tax return deadlines
Greece’s Ministry of Finance has announced an extension for filing personal and corporate income tax returns, moving the deadline to 2 August 2024 for individuals and 9 August 2024 for legal entities. This decision was made due to technical
See More
Luxembourg adopts draft grand-ducal regulation on tax credits and minimum taxation
Luxembourg's Council of Ministers took a step by adopting a draft Grand-Ducal regulation concerning tax credits and qualified holdings under the Minimum Taxation Law (MTL) On 24 July 2024, which implements the EU's Minimum Taxation Directive
See MoreItaly: Council of Ministers approves decree on minor taxes, tax penalties Â
Italy’s Council of Ministers tentatively approved a legislative decree on 22 July 2024 that outlines a consolidated text on minor state taxes under Article 21 of Law 9 August 2023, no. 111. The text aims to precisely identify the current rules by
See More
Bulgaria approves pending CbC report exchange agreement with the US
Bulgaria's Council of Ministers approved the pending Intergovernmental Agreement (IGA) with the US regarding the exchange of Country-by-Country (CbC) reports. Bulgaria’s Ministry of Finance signed a country-by-country (CbC) exchange agreement
See More
Netherlands ratifies pending Curacao-Malta tax treaty
The Netherlands published the Law of 27 July 2024 in the official gazette, on 25 July 2024, ratifying the pending income tax treaty between Curaçao and Malta. The treaty aims to prevent double taxation and eliminate fiscal evasion regarding income
See More