Estonia deposits new notifications under the BEPS MLI
On 25 November 2021, the Organization for Economic Cooperation and Development (OECD) has announced that Estonia deposited new notifications under the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and
See MoreCyprus extends the imposition of administrative fines for DAC6 reporting
On 22 November 2021, the Cyprus Tax Department has published an announcement extending administrative fines for overdue submission of DAC6 reporting. The Tax Department informs that there will be no imposition of administrative fines for overdue
See MoreMalta: CFR updates guideline on DAC6 reporting
On 17 November 2021, the Commissioner for Revenue (CFR) notifies that version 1.1 of the updated Guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements (DAC 6) are available for download here. Updates
See MoreEU: European Parliament passes provisions for public CbC reporting
On 11 November the European Union's Parliament voted to pass amendments to the EU Accounting Directive (2013/34/EU) on financial reporting of certain types of undertakings. The amendments would introduce public country-by-country reporting
See MorePortugal: Tax Agency extends certain payment deadlines
On 10 November 2021, the Portuguese Tax and Customs Authority issued Order No. 351/2021-XXII, announcing payment deadline changes for 2021 and 2022, due to the coronavirus pandemic. The order includes: The filing of form-10 for personal income
See MorePoland: President signs new tax bill into Law
On 15 November 2021, the President signed into the Law a bill referred to as "Polski Ład" introducing, amongst others, amendments to the definition of a controlled foreign corporation (zagraniczna jednostka kontrolowana, CFC) to include more
See MoreSpain: Budget-2022 sets new minimum corporate tax rate
On 4 November 2021, the Spanish lower chamber passed the budget for 2022 which provides for a minimum corporate tax rate of 15% of the tax base for certain taxpayers from 2022. It applies to companies with a net turnover of at least 20 million
See MoreGermany publishes court decisions concerning the intercompany loans
On 4 November 2021, The German Ministry of Finance (MoF) published Tax Court Decision No. IR 32/17of 9 June 2021, on the taxation of corporate income based on unsecured loans to foreign related companies. In that case, a domestic company granted
See MoreIreland: Finance Department releases amendments to Finance Bill 2021
On 12 November 2021, the Finance Minister, Paschal Donohoe T.D., appreciated the approval by Government to a number of Government amendments to be put down at Committee Stage of the Finance Bill 2021. The Minster has decided not to proceed with
See MoreFinland announces to amend interest deduction limitation rules
On 4 November 2021, the government of Finland has published a proposal to the interest deduction limitation rules. The proposed amendments are particularly relevant for companies that rely on the “balance sheet test” which provides for an
See MoreRomania revises number of large taxpayers required to prepare TP documentation
On 29 October 2021, the Romanian National Tax Agency (NTA) published Order No. 1721 that revises the list of large taxpayers those are subject to prepare transfer pricing (TP) documentation. There are currently 2,940 large taxpayers until 31
See MoreAustria: Ministry of Finance proposes the tax reform for 2022
On 8 November 2021, the Austrian Ministry of Finance has proposed a draft bill on the ecosocial tax reform 2022 and submitted it for consideration by the parliament and the Federal Council. Subsequently, the corporate tax rate will reduce from 25%
See MoreFinland: Parliament adopts bill to amend cross-border hybrid mismatch rules
On 29 October 2021, the Parliament of Finland has adopted the Bill No.204/2021 to amend cross-border hybrid mismatch rules, implementing the EU anti-avoidance directives. The bill includes following measures to transpose the reverse hybrid mismatch
See MoreNetherlands introduces conditional withholding tax
On 2 November 2021, the parliament of the Netherlands approved the conditional withholding tax (WHT) rate of 25% on dividends paid to low tax jurisdictions. The conditional withholding tax will apply from 1 January 2024 on dividend payments to
See MoreItaly: Council of Ministers Approves Budget for FY 2022
28 October 2021, Italian Council of Ministers has issued a release declaring its approval of the Budget for FY 2022. The key tax measures include plastic tax and sugar tax is postponed until 2023, the VAT rate on feminine hygiene products is
See MorePortugal: Parliament rejects 2022 Budget Bill
On 27 October 2021, the Portuguese parliament rejected the government's 2022 budget bill (Bill 116/XIV/3). The draft bill was submitted in parliament on 11 October 2021 and includes various tax-related measures, including revised personal income
See MoreCyprus: Tax department publishes decree implementing regulations for DAC6
On 29 October 2021, the tax department of Cyprus published the Decree KDP 438/2021 for the implementation of the EU directives on reportable cross-border arrangements (DAC6). The decree provides guidance on the participants in a reportable
See MoreBelgium publishes late payment interest rate for 2022
On 27 October 2021, the Federal Public Service (SPF) published a notice with updated interest rate for late payment. According to the notice, the interest rate is set at 4% for the 2022 calendar year, which is as same as the 2021 calendar
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