Greece: Public Revenue Authority publishes frequently asked question on CbC Report
On 24 February 2023, the Public Revenue Authority released frequently asked question (FAQ) document in English providing the elaborate description of country-by-country (CbC) reporting, related OECD Country-by-Country reporting guidelines and
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Malta amends the income tax group deduction rules
On 21 February 2023, Malta published Legal Notice 40 of 2023 in the Official Gazette amending the income tax group deduction rules. According to the amendments, the total allowable deductions that may be claimed shall not exceed EUR 1 million per
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Luxembourg: Government presents a draft bill to the Parliament on public CbC reporting
On 24 February 2023, the Luxembourg government presented Bill no. 8158 to the Parliament to implement public Country-by-Country (CbC) reporting in compliance with Directive (EU) 2021/2101. The bill conforms to the directive and sets the public
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Italy: Council of Ministers approves decree to implement DAC7
On 23 February 2023, Italian Council of Ministers approved the legislative decree to implement new rules on the exchange of information on income generated through digital platforms (DAC7). DAC7 rules requires digital platform operators to
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Germany publishes list of Jurisdictions for Automatic Exchange of Information
On 23 February 2023, the German Ministry of Finance has released an updated list of jurisdictions that will receive financial account information automatically for tax purposes starting on 30 September 2023. For 2023, six new countries have been
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Netherlands: Late payment interest rates for CIT and WHT remain unchanged
On 23 February 2023, the State Secretary for Finance issued a letter announcing that the interest rates for late payment of corporate income tax (CIT) and withholding tax (WHT) will remain unchanged at 8% after March 1, 2023. Additionally, the
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Italy: Tax authority clarify windfall tax for energy sector
On 23 February 2023, the Italian tax authorities have published Circular No. 4/E with clarifications on the temporary solidarity (windfall tax) contribution for the energy sector. The clarifications regarding the solidarity contribution includes
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Czech Republic revises Non-Cooperative jurisdictions list for CFC Rules
On 24 February 2023, the Czech Republic released Financial Bulletin No. 3/2023, that announced the non-cooperative jurisdictions list for the Czech Republic's controlled foreign company (CFC) regulations. The list has been updated in accordance with
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Cyprus: Tax department issues FAQs on new transfer pricing legislation
On 10 February 2023, the Cyprus Tax Department published a set of Frequently Asked Questions (FAQs) aiming to clarify certain provisions of the new transfer pricing rules approved in June 2022 with effect from 1 January 2022, including Local File
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Sweden sign MCAA to exchange information with respect to income earned on digital platforms
On 2 February 2023, Sweden signed the multilateral competent authority agreement on the automatic exchange of information on income derived through digital platforms, according to an update published by OECD on 15 February 2023. The DPI-MCAA has
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Malta: CFR extends DAC6 annual notification deadline for non-disclosing intermediaries
On 17 February 2023, the Maltese Commissioner for Revenue (CFR) notified that the deadline for annual notification of cross-border arrangements (DAC6) by non-disclosing intermediaries is being extended. Accordingly, non-disclosing intermediaries
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Finland: Tax agency issues guidance on application of OECD guidelines for domestic TP rules
On 8 February 2023, the Finnish tax administration issued guidance No.VH/5942/00.01.00/2022 on the application of OECD transfer pricing guidelines to domestic transfer pricing rules. The purpose of the guidance is also to summarize the effects of
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Poland: MoF extends the filing deadline for CIT to 30 June 2023
The Polish Ministry of Finance has announced a proposal to extend the filing and payment deadline for corporate income tax returns by three months, until 30 June 2023. Last year, due to the COVID-19 pandemic, the deadline for filing forms CIT-8,
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Spain releases forms for windfall tax on energy and banking sectors
On 2 February 2023, Spain published an Order HFP/94/2023 of 2 February 2023 approving four new forms for the windfall profits taxes on the energy and banking sectors. The tax was introduced by the “Law 38/2022” on 27 December 2022. According to
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Germany: Lower house of parliament adopts CbC exchange agreement with USA
On 9 February 2023, the German lower house of parliament (Bundestag) has approved a law to ratify the pending agreement with the USA on the exchange of CbC reports. The agreement was signed on 14 August 2020. The agreement will enter into force when
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Sweden: Ministry of Justice propose a bill implementing public CbC reporting
On 9 February 2023, the Swedish Ministry of Justice published a press release of proposal implementing the EU directive 2021/221 to disclose publicly certain information on a country-by-country (CbC) regarding multinational companies. According to
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Romania enacts DAC7
On 31 January 2023, Romania published Ordinance No. 16/2023 in the Official Gazette, which transposes EU Council Directive No. 2021/514 (DAC7) into Romanian law to implement new rules on the exchange of information on income generated through
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On 27 January 2023, Spain submitted a bill to Parliament for implementing Council Directive (EU) 2021/514 (DAC7), which requires digital platform operators to report the revenue generated by sellers on their digital platforms and for EU Member
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