Germany: MoF publishes draft BEPS 2.0 pillar two implementation bill
On 20 March 2023, the German Ministry of Finance (MoF) published a draft discussion for the implementation of the global minimum tax. It has initiated steps towards enforcing the EU Directive on the adoption of a Global Minimum Tax (2022/2523),
See More
Germany gazettes Law regarding CbC reports exchange agreement with US
On 15 March 2023, the official gazette of Germany published the Law regarding the ratification of the agreement with the United States for exchanging Country-by-Country (CbC) Reports, which agreement signed on 14 August 2020. The law enters into
See More
Lithuania publishes draft law to transpose public CbC reporting
On 7 March 2023, the government of Lithuania issued a draft law to transpose the EU Public Country-by-Country (CbC) Reporting Directive into domestic law. According to the Directive, the upcoming legislation will mandate multinational corporations
See More
Bulgaria proposes windfall tax for all sectors
On 17 march 2023, the Ministry of Finance has released a proposal to impose a temporary solidarity contribution across all industries, which is now open for public discussion. Bulgaria has already implemented a solidarity contribution on the fossil
See More
Luxembourg proposes windfall tax on surplus revenue from electricity production
On 15 March 2023, the government of Luxembourg presented Bill 8175 to the Parliament to introduce a temporary windfall tax on surplus revenue from electricity production in accordance with EU Regulation 2022/1854. Electricity providers will be
See More
Cyprus: Tax department issues additional FAQs on TPD rules
On 14 March 2023, the Tax Department of Cyprus has issued three additional questions to its Frequently Asked Questions (FAQs) section, with respect to transfer pricing. The additional questions are summarized below: How is the EUR 750,000
See More
Sweden: Tax Agency declares new e-Service for digital platform operators
The Swedish Tax Agency has made an announcement that a newly launched e-service portal is now accessible for the registration process of platform operators. Platform operators covered by the rules must register by 30 June 2023 at the latest.
See More
Italy introduces tax reform plans to reduce tax rates
On 16 March 2023, the Italian Council of Ministers declared tax reform plans, which involves a number of notable changes. The tax reform plans include the implementation of a lower corporate tax (IRES) rate of 15% for businesses that pledge to make
See More
Spain: MoF releases public consultation implementing global minimum tax
On 6 March 2023, the Spanish Ministry of Finance published a public consultation document on the transposition of the EU Directive implementing Pillar Two global minimum tax rules (Council Directive 2022/2523 of 14 December 2022, “Minimum Tax
See More
Malta: CFR provides guidelines on DAC6 notification obligations for intermediaries
On 8 March 2023, the Maltese Commissioner for Revenue (CFR) provides guidelines in relation to the waiver from filing information in respect of a reportable cross-border arrangement (DAC6). Following the CJEU decision on 8 December 2022, Maltese
See More
Croatia enacts DAC7
On 8 March 2023, the Croatian Official Gazette published Regulation No. 448, which implements the European Union Council Directive on the mandatory automatic exchange of financial account information (AEOI) for digital platform operators
See More
France issues ruling on withholding tax applicable to dividend equivalent payments
On 24 February 2023, the French tax authority released two rulings related to the levy of dividend withholding tax on payments to non-residents for financial transactions that are deemed to be equivalent to dividends. In the first ruling, it is
See More
Malta: CFR extends electronic filing deadline of CIT returns for 2023
On 8 March 2023, the Maltese Commissioner for Revenue (CFR) notified that the deadlines for the electronic filing of corporate income tax (CIT) have been extended as follows: Financial Year Ending Manual Return Deadline Electronic
See More
Cyprus: Cabinet approves financial incentives for energy saving investments
The Cypriot Ministry of Finance announced that the Cabinet has passed a bill amending the Income Tax Act, providing for an additional tax exemption in the form of a capital deduction for certain investments for Cypriot companies wishing to implement
See More
Finland plans to introduce mining tax from 2024
On March 3, 2023, the Finnish President signed the Mining Minerals Tax Act (HE 281/2022) introducing a new mining tax on minerals mined in Finland with effect from 1 January 2024. The procedural rules that will be applied to the taxation of mined
See More
Belgium: Finance Minister proposes first phase of tax reform
On 2 March 2023, Mr. Vincent Van Peteghem, the Belgian Deputy Prime Minister and Minister of Finance has declared the government's proposal for the first phase of major tax reforms. If adopted, the proposed measures will generally apply as from 1
See MoreGermany gazettes amendment regulation for exchange of CbC reports
On 27 February 2023, the German official Gazette issued a regulation amending the list of jurisdictions participating under the Multilateral Competent Authority Agreement (MCAA) on the exchange of country-by-country (CbC) reports. The law came into
See More
Sweden: Tax Agency Introduces temporary tax on extraordinary profits of electricity producers
The Swedish Tax Agency has declared an announcement that tax will be imposed  on excessive profits of electricity producers from  1st March  2023 to 1st June  2023 for a limited time period. The recently implemented measure aligns with the
See More