Belgium enacts DAC7
On 30 December 2022, Belgium enacted a law for implementing into domestic legislation, the EU Directive imposing reporting and exchange of information requirements concerning the activities of certain digital platform operators situated both inside
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Finland publishes withholding tax rate for 2023
On 20 December 2022, the Finnish Tax Administration published the withholding tax rates table on dividends, investment fund profit shares and royalties from Finland to non-residents. The tax to be withheld at source, by countries of residence (of
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Ireland: President signs the Finance Bill 2022 into Law
On 15 December 2022, Michael D. Higgins, the President of Ireland signed the Finance Bill 2022 into Law. The Finance Act contains new tax measures including changes in corporate income tax and transfer pricing related measures. The main tax measures
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Spain releases legislation to implement EU public CbC reporting directive
On 22 December 2022, the Spanish government published the legislation implementing the European Union (EU) Directive (2021/2201) on Public Country-by-Country (CbC) Reporting (CbCR). According to the EU Public CbCR Directive, both EU-based
See MoreIreland updates guidance on payment and receipt of interest and royalties without deduction of income tax
On 22 December 2022, the Irish Revenue published eBrief No. 221/22 on payment and receipt of interest and royalties without deduction of income tax. Accordingly, Tax and Duty Manual Part 08-03-06 - Payment and Receipt of Interest and Royalties
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Germany introduces windfall profits tax for power sector
On 23 December 2022, Germany published the Law in the official gazette to introduce an electricity price break for purpose of change other energy law provisions. It provides for several electricity-related relief measures and the introduction of a
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Bulgaria gazettes text of MCAA for digital platforms income
On 16 December 2022, the Bulgarian official gazette published the text of the multilateral competent authority agreement on automatic exchange of information on income derived through digital platforms (DPI-MCAA). It was signed on 9 November
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Greece increases additional deduction for advertising expenses
On 21 December 2022, Greece published Law No. 5005 in the Official Gazette, which extended the application of the 30% special deduction for advertising expenses to the tax year 2023 as well as 2022. In some circumstances, a 100% additional deduction
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Luxembourg: Parliament approves budget law 2023
On 15 December 2022, the Luxembourg Parliament approved the budget law 2023. There is no major tax reform or an increase in the tax rate in the draft budget law. Most of the measures will apply from 1 January 2023. The budget law sets out the
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Bulgaria: National assembly approves law for implementation of DAC7
On 8 December 2022, the national assembly of Bulgaria approved law on amendments and supplements to the tax and insurance procedural code. The primary objective of the law is to implement the new rules on the exchange of information on income
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Czech Republic enacts DAC7
On 7 December 2022, the Czech Republic enacted Law No. 373/2022 for implementing into domestic legislation, the EU Directive imposing reporting and exchange of information requirements concerning the activities of certain digital platform operators
See MoreFinland: Tax agency explains the tax changes for 2023
On 13 December 2022, the Finnish tax administration has released an explanation of tax changes for 2023. Some of them are legislative changes proposed by the Government but not yet debated in the parliament. The proposals related to corporate
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Italy declares statutory interest rate for 2023
Italy has published the Decree of 13 December 2022 in the Official Gazette, which sets 5% statutory interest rate (previously 1.25%) with effect from 1 January 2023. The statutory interest rate will be used for interest payment in case of
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Germany updates the list of jurisdictions under BEPS MLI
On 14 December 2022, Germany published a notice in the Official Gazette regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, Germany added South Africa to the
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Hungary: MoF publishes draft transfer pricing decree on TP reporting obligation
On 9 December 2022, the Hungarian Ministry of Finance issued a draft transfer pricing decree detailing a new transfer pricing reporting obligation. Accordingly, taxpayers are required to prepare a transfer pricing report on a transaction basis or on
See MoreBelgium introduces new tax rules
On 30 November 2022, new rules on various fiscal and financial provisions were published in the Belgian official Gazette. Starting from 1 January 2023, new rules will enter into force for Belgian companies or Belgian branches. The key tax measures
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Bulgaria approves law on temporary solidarity contribution to the fossil sector
On 6 December 2022, the National Assembly of Bulgaria approved a law regarding a temporary solidarity contribution of 33% on oil, gas and coal companies in line with the Council Regulation (EU) 2022/1854 on an emergency intervention to address high
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Slovakia approves windfall tax on electricity sector
On 6 December 2022, the Slovak parliament approved a law for the introduction of a windfall tax on electricity companies. The windfall tax applies the period from 1 December 2022 to 31 December 2024 with an installed capacity exceeding 0.9
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