Greece: AADE announces decision remain unchanged interest rates for late and undue tax payment
On 9 August 2023, the Greek Public Revenue Authority (AADE) issued Decision A.1121 of 3 August 2023. Greece has opted to keep the existing interest rates for late tax payments and the refund of improperly paid taxes intact, despite an upward
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Ireland: Revenue issued new guidance on R&D tax credit
On 21 August 2023, the Irish Revenue issued eBrief No. 185/23 on research and development (R&D) corporation tax credit. Accordingly, Revenue released a new Tax and Duty Manual (TDM) Part 29-02-03A. This manual provides information about how to
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Germany: Government approves draft law to implement EU Pillar 2 directive
On 16 August 2023, the German government approved a proposed bill concerning the adoption of Council Directive (EU) 2022/2523, which aims to establish a universal minimum taxation standard for multinational enterprise (MNE) groups and sizeable
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Finland: MoF launches public consultation on draft bill to implement GloBe rules
On 15 August 2023, the Finnish Ministry of Finance initiated a consultation regarding Draft Bill No. VM036:00/2023, which aims to implement the Pillar 2 global minimum tax in alignment with Council Directive (EU) 2022/2523. This bill includes the
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Russia: CBR announce decision to increase the key interest rate
On 15 August 2023, the Central Bank of Russia (CBR) declared a significant increase in the key interest rate, raising it by 350 basis points from 8.5% to 12.00% annually. This decision was made to address the growing concerns related to price
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France updates list of exempted countries for CbC report local filing requirements
On 13 August 2023, Government published the Decree which amends the Order 6 July 2017 pursuant to II of Article 223 quinquies C of the General Tax Code. The new Decree updates the the list of country exemption from local filing Country-by-Country
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Albania: Council of Minister accepts draft bill on tax measures in science-technology parks
The Albanian Council of Ministers approved a set of Decisions, including DCM no. 337 from 31 May 2023, and DCM nos. 416, 417, and 148 from July 7, 2023. These decisions, which have immediate effect upon publication in the official gazette, are aimed
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Netherlands: House of Representatives adopts legislation for public CbC Reporting
On 6 July 2023, the Dutch House of Representatives passed legislation aimed at implementing the Public Country-by-Country (CbC) Reporting Directive. This move highlights the Netherlands' commitment to transparency and aligns with international
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Bulgaria officially approves budget Act 2023
Bulgaria has passed the amendments to the draft Budget Act 2023, which aim to protect wages and social security benefits. The government plans to reduce spending to combat inflation and strengthen the economy, but will not raise taxes. The key tax
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Germany: BMF publishes draft guidance on CFC legislation
On 20 July 2023, the Federal Ministry of Finance (BMF) issued draft guidance concerning the implementation of the Foreign Transactions Tax Act (FTTA), specifically addressing the taxation aspects related to controlled foreign corporations (CFCs).
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Luxembourg: Government submits draft bill on global minimum tax to the Parliament
On 4 August 2023, the Luxembourg government submitted draft bill no 8292 to the Parliament. The bill aims to incorporate the OECD Pillar Two global minimum tax rules in line with EU Council Directive 2022/2523 of 14 December 2022. These rules
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Spain: National Court issues rule on TP adjustment using median of arm’s length range
On 29 July 2023, the Spanish National Court issued a decision that provided clarification on the range of arm's length pricing adjustments applicable. In this case, Ferroli Spain, a Spanish manufacturer specializing in non-electric stoves,
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Ireland implements temporary solidarity contribution for fossil fuel sector
On 2 August 2023, the Minister for the Environment, Climate and Communications, Mr. Eamon Ryan, signed an order to commence the Energy (Windfall Gains in the Energy Sector) (Temporary Solidarity Contribution) Act 2023. The order is effective from 2
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Slovak Republic introduces draft law on OECD Pillar 2 global minimum tax
The Slovak Republic Ministry of Finance has initiated a public consultation process to get feedback on a draft law aimed at implementing a 15 percent global minimum corporate tax rate. The objective of this legislative proposal is to align
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Austria: Government plans to increase windfall tax on oil and gas companies
On 30 August 2023, the Austrian government announced a plan to tighten the windfall tax on oil and gas companies, in an effort to reduce their profits at a time of rising energy prices. The new tax will apply to profits that exceed a pre-crisis
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Ireland: Government releases second feedback statement implementing global minimum tax
On 27 July 2023, the Irish Government released second feedback statement on the transposition of the OECD Pillar Two global minimum tax rules in line with EU Council Directive 2022/2523 of 14 December 2022. The consultation period will run to close
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Germany released new draft guidance on anti-hybrid rules
On 14 July 2023, the German Ministry of Finance has released a draft decree outlining the application of the country's anti-hybrid rules, established in 2021 under the European Union (EU) Anti-Tax Avoidance Directive (ATAD) implementation Law. These
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Ireland: Revenue issues guidelines on EU tax dispute resolution mechanisms
On 17 July 2023, the Irish Revenue issued eBrief No. 165/23 on European Union (EU) tax dispute resolution mechanisms. Accordingly, Tax and Duty Manual Part 35-02-10 - Guidelines on the European Union (Tax Dispute Resolution Mechanisms) Regulations
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