Ireland: Revenue updates guidance for charges on income for corporation tax purposes
On 1 February 2023, the Irish Revenue issued eBrief No. 025/23 regarding charges on income for corporation tax purposes. Accordingly, Tax and Duty Manual Part 08-02-01 has been updated. The updates include the following sections: In section
See More
Hungary: MoF publishes decree amending TP rules on transfer pricing documentation
On 28 December 2022, the Hungarian Ministry of Finance published Decree 27/2022 (XII.28) which amends the Decree 32/2017 (X.18) on the documentation requirement related to the determination of arm’s length prices. Increase threshold
See More
Italy publishes latest withholding tax return form
The Italian tax authorities have recently released the latest withholding tax return form for the fiscal year 2022. The withholding tax return form (Modello 770/2023) and instructions was approved by Protocol No. 25954/2023 on 27th January 2023.
See More
Malta implements DAC7 into domestic law
On 20 January 2023, Malta issued Legal Notice 8 of 2023 in the Official Gazette. Accordingly, Malta implemented regulations on the exchange of information on income from digital platforms (DAC7). This law is in accordance with the Council Directive
See More
Ireland: Revenue updates guidance on CbC reporting
On 25 January 2023, the Irish Revenue issued eBrief No. 018/23 on country-by-country (CbC) reporting - data access & usage. Accordingly, Tax and Duty Manual Part 38-03-20 has been updated. In addition to editorial changes, amendments of note
See More
Croatia joins multilateral agreement for exchange of information on income from digital platform
The OECD has announced that Croatia has signed the Multilateral Competent Authority Agreement on Automatic Exchange of Information regarding Income from Digital Platforms on 15 December 2022. The agreement provides for the automatic exchange of
See More
Denmark publishes updated tax rate tables
The Danish Ministry of Taxation has released a revised tax rate schedule for 2018-2023 which shows that the lowest and highest personal income tax rates for 2023 will maintain at 12.09% and 15.0% respectively, and the maximum tax rate, including
See More
Luxembourg: Tax authority updates FAQs on CbC reporting
On 18 January 2023, the Luxembourg Tax Authority updated the frequently asked questions (FAQs) on country-by-country (CbC) reporting according to the guidance issued by the OECD in October 2022. The latest updates include the following
See More
Sweden: MoF proposes temporary tax on electricity producers
The Swedish Ministry of Finance (Mof) has issued a proposal to impose a temporary tax (windfall tax) on the excessive earnings of electricity producers in accordance with EU Regulation 2022/1854. It would be levied at a rate of 90 % on incomes above
See More
Romania publishes draft bill on DAC7
13 January 2023, the Ministry of Finance (MoF) has released a draft ordinance to implement the provisions of the amending directive on administrative cooperation in the field of taxation (Council Directive (EU) 2021/514) (DAC7) in the fiscal
See More
France: Tax Authority issues new DAC7 guidelines
On 11 January 2023, the French Tax Authority has issued guidance, known as BOI-INT-AEA-30, regarding the obligations imposed on platform operators under the new rules of the Digital Platforms Directive (DAC7). DAC7, based on Council Directive (EU)
See More
Lithuania introduces windfall tax on electricity companies
On 23 December 2022, Lithuania published Law XIV-1680 in the Official Gazette for implementing a windfall tax and solidarity contribution in accordance with EU Regulation 2022/1854. The law includes following measures: applying a 90% windfall
See More
Poland: MoF publishes base interest rates for transfer pricing purpose
On 23 December 2022, the Polish Ministry of Finance published a notice in the official gazette, establishing base interest rates and margin rates for the purposes of transfer pricing for individual and corporate income taxes. The notice specifies
See More
Czech Republic publishes FAQs on DAC7 reporting
The General Financial Directorate (GFD) has released a Frequently Asked Questions (FAQs) regarding the requirements of digital platform operators under the new reporting requirement for sellers and sales on their digital platforms. The first report
See More
Lithuania gazettes law for implementation of DAC7
Lithuania has published Law No. XIV-1658 in the Official Gazette to amend the Tax Administration Law related, this includes amendments for the implementation of new rules on the exchange of information on income from digital platforms (DAC7). This
See More
Cyprus: Deadline extended for annual DAC7 reporting for 2023
On 17 January 2024, the Cyprus Tax Department declared the extension of the deadline for the annual DAC7 reporting for 2023 for all reporting platform operators. The new reporting deadline for 2023 is 16 February 2024. The new regulations take
See More
Belgium amends guidance on interest deduction rule
On 12 January 2023, Belgium issued Circular 2023/C/8, which provides instructions on the application of the 30% of EBITDA interest deduction limitation starting from 1 January 2019, in line with the EU Anti-Tax Avoidance Directive (ATAD). A summary
See More
Slovak Republic amends TP documentation requirements
The Slovak Ministry of Finance (MoF) has issued new guidelines to determine the content of transfer pricing (TP) documentation, effective for the tax period starting after 31 December 2022. The guidelines reflect an amendment to the income tax
See More