Ireland incorporates close company surcharge into corporation tax for preliminary tax calculation
On 7 June 2023, the Irish Revenue issued eBrief No. 139/23, which provides guidance regarding the incorporation of close company surcharges into the computation of corporation tax. Accordingly, Tax and Duty Manual Part 41A-07-02 - Payment of
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Hungary extends windfall taxes until the end of 2024
On 31 May 2023, Hungary released Government Decree 206/2023 in the Official Gazette amending Government Decree 197/2022 regarding temporary windfall taxes on additional profits. The decree includes extension of certain taxes until 2024 and making
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Spain transposes a bill into domestic law implementing DAC7
On 25 May 2023, an announcement was published in the Spanish Official State Gazette noting that a bill related to implement the EU directive on DAC7 has been enacted to transpose into domestic law. The bill aims to improve the existing tax
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WTO Trade Policy Review of EU
The WTO is reviewing the trade policies and practices of the EU on 5 and 7 June 2023. The WTO Secretariat has produced a report as a basis for the review. During the period under review the EU made progress on major policy initiatives including
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Netherlands presents global minimum tax bill to parliament
On 31 May 2023, the bill on the Minimum Profit Tax Act 2024 was presented to the Lower House of Parliament. The proposal ensures that multinational groups and domestic groups with an annual revenue of €750 million or more pay tax on their
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Denmark implements temporary solidarity contribution on fossil fuel sector
Denmark has released Law No. 502 dated 16 May 2023 in the Official Gazette, which establishes the implementation of a temporary solidarity contribution targeting the fossil fuel sector, aligning with Council Regulation (EU) 2022/1854. The measure
See MoreNetherlands introduces draft legislation to implement BEPS Pillar Two rule
On 31 May 2023, the Dutch Government submitted a draft legislation to the Parliament in order to incorporate the BEPS 2.0 – Pillar Two requirements into its domestic laws. This draft legislation follows the previously released draft proposal of 24
See MoreSpain releases a law introducing new interest deduction limitation rules
On 25 May 2023, Spain published Law 13/2023 in the Official Gazette, which introduces new interest deduction limitation rules in line with the EU Anti-Tax Avoidance Directive (ATAD). Spain's current rules limiting interest deduction were deemed
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France announces green industry bill with 15 key measures to secure European leadership
On 16 May 2023, as part of France's ambitions to become a leading green industry force in Europe, Finance Minister Bruno Le Maire unveiled the "Green Industry Bill." This comprehensive legislation includes a range of measures designed to propel
See MoreSpain approves corporate income tax return form for tax year 2022
On 22 May 2023, Spain published an “Order HFP/523/2023 of 22 May 2023” in the Official Gazette, approving the forms and instructions for the corporate tax and Non-Resident Income Tax returns for periods starting between 1 January and 31 December
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Portugal extends corporate tax filing deadline to 6 June 2023
On 22 May 2023, the Portugal's Secretary of State for Fiscal Affairs has issued Order No. 148/2023-XXIII. This order grants a brief extension for the submission of the annual corporate tax return and payment for the year 2022. Taxpayers now have
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Greece introduces new process for fossil fuel companies on temporary solidarity contribution return
On 8 June 2023, the Greek Public Revenue Authority (AADE) has recently issued Decision A. 1069, outlined the necessary procedures and return form for the temporary solidarity contribution imposed on fossil fuel companies. This move aligns with
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Luxembourg gazettes law to implement DAC7
On 19 May 2023, Luxembourg published law no 8029 in the Official Gazette to implement new rules on the exchange of information on income generated through digital platforms (DAC7). The law is in accordance with the Council Directive (EU) 2021/514 of
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France: Tax authorities issue guidelines on temporary solidarity contribution for energy sector
On 15 May 2023, the French tax authority issued comprehensive guidelines outlining the implementation of a temporary solidarity contribution aimed at certain companies operating in the fossil fuel sector. This contribution was introduced as part of
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Albania releases a law amending transfer pricing provisions
On 23 May 2023, Vietnam has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention). This move makes Vietnam the 81st jurisdiction to
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EU: European Commission Announces Proposals for Customs Reform
On 17 May 2023 the European Commission set out proposals for a reform of the EU Customs Union. The proposals are a response to the large increase in the volume of trade in recent years, the growth in e-commerce and the need to enforce EU trading
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Ireland: Revenue provides guidance on foreign entity classification for Irish tax purposes
On 18 May 2023, the Irish Revenue issued eBrief No. 117/23 to provide guidance on classifying foreign entities for Irish tax purposes. Accordingly, Revenue provides Tax and Duty Manual (TDM) Part 35C-00-02 - Foreign Entity Classification For Irish
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Czech Republic launches public consultation to implement global minimum tax rules
On 15 May 2023, the Czech Ministry of Finance initiated a public consultation on a draft bill aimed at implementing the OECD's Pillar Two global minimum tax rules. This implementation is in accordance with the EU Minimum Tax Directive 2022/2523.
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