Finland approves new tax treaty with France
Finland’s President Alexander Stubb ratified the new income tax treaty with France by signing it into law on 28 June, 2024. This treaty, which was signed on 4 April 2023, will replace the existing 1970 tax agreement between the two nations. The
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Switzerland ratifies tax treaty protocol with Slovenia
Switzerland has announced its decision to ratify the pending protocol to the 1996 income and capital tax treaty with Slovenia, published in the Official Gazette on 25 June, 2024. Signed on 30 May 2023, this protocol marks the second amendment to
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Estonia: Government announces tax hikes and economic reforms
Estonia’s newly established government has announced a comprehensive strategy to combat inflation, featuring a series of tax increases across multiple sectors. As part of this plan, value-added tax (VAT), income tax, and excise duties on alcohol,
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Botswana: BURS extends PAYE and OWHT return deadline
The Botswana Unified Revenue Service (BURS) has announced an extension for the filing of annual "pay as you earn" (PAYE) and "other withholding tax" (OWHT) returns. The new deadline is now set for 30 September 2024. This extension aims to provide
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Jersey, Portugal in talks for income tax treaty
During a States Assembly meeting on 25 June 2024, Ian Gorst, Jersey's Minister of External Relations, affirmed Jersey's intention to engage in discussions regarding an income tax treaty with Portugal. The objective of the treaty will be to help
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Lithuania implements notification rules for Pillar Two global minimum tax
Lithuania has published Order No. 2024-11391 on 21 June, 2024, in the Official Gazette, detailing procedures for submitting mandatory information notices concerning the implementation of the Pillar Two global minimum tax under Council Directive (EU)
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Finland issues guidance for increased VAT starting September 2024
Finland’s tax authority has released guidance clarifying the increase in the standard VAT rate from 24% to 25.5% on 17 July, 2024. The VAT hike has received parliamentary approval and is currently awaiting final confirmation. The revised rates
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Ireland, Jersey reveal amendments to tax treaty protocols
Ireland and Jersey amended their tax treaty agreement on 23 November, 2023. The details of the amendments have recently been revealed. The protocol updates the preamble to include not only the intention to eliminate double taxation but also to
See MorePortugal approves tax reform to boost capital market, affordable housing
Portugal's parliament has passed a tax reform package designed to invigorate the capital market and promote affordable housing. This legislation, approved on 14 June 2024, awaits presidential ratification and gazetting. The first major aspect
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Spain extends VAT cuts on essential food products
Spain’s Ministry of Finance announced in a release on Tuesday, 25 June 2024, that the Spanish Council of Ministers approved a Royal Decree-Law which extends the VAT rate reduction for basic food Items. The reduced rates were initially set to
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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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