Denmark to introduce agricultural carbon tax
Denmark unveiled a long-term plan, on 24 June 2024, to restructure its agricultural industry and land use. This plan tackles greenhouse gas emissions with a new tax on livestock emissions. “We will be the first country in the world with a
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Czech Republic, Argentina to sign tax treaty
The Czech Republic announced, in a release on 24 June 2024, that it had started negotiations to sign an income tax treaty with Argentina. Argentina is a traditional economic partner of the Czech Republic in Latin America. Last year, it was the
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Romania expands e-invoicing to B2C transactions
Romania’s Ministry of Finance has released Urgent Ordinance 69/2024 on 21 June, 2024, which expands the country's electronic invoicing (e-invoicing) mandate to business-to-consumer (B2C) transactions. Starting 1 July, 2024, all B2C transactions
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Czech Republic updates jurisdictions list for automatic exchange of financial account information
The Czech Republic issued Financial Bulletin No. 5/2024 on 18 June, 2024, which features an updated roster of contracting states and jurisdictions for the automatic exchange of information on financial accounts under the OECD Common Reporting
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France confirms suspension of tax treaty with Russia
France issued a notice in Official Journal No. 0147 on Sunday, 23 June 2024, regarding the partial suspension by the Russian Federation of the convention between France and Russia. This notice confirms the suspension of treaty provisions, effective
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Germany publishes final guidance on Tax Haven Defence Act
The German Ministry of Finance (MoF) published Letter No. 2024/0299051, outlining principles for implementing the Tax Haven Defense Act on 14 June, 2024. This final guidance, now expanded to 34 pages from the initial 31-page draft, offers valuable
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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
See MoreCzech 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
See MoreGermany 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
See MoreNetherlands 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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