Italy updates filing instructions for CbC Report
The Italian tax authorities updated the technical rules and filing instructions to submit country-by-country (CbC) reports in accordance with the OECD’s CbC XML schema adopted in June 2019. The updated technical rules and filing instructions will
See MoreLithuania: Parliament adopts new incentive for large scale FDI projects
The Parliament of Lithuania has approved a new incentive for large investment projects in any area of Lithuania.The new package of laws offers tax incentives and cuts the red-tape. Large-scale investment project that meets the
See MoreGreece: Finance Ministry extends annual certificate of tax compliance deadline
On 27 October 2020, the Finance Ministry announced that the filing deadline of the annual certificate of tax compliance is extended from 31 October 2020 to 30 November 2020. The filing obligations of the certificate is mandatory for corporations
See MoreBulgaria: Cabinet approves draft Budget Bill 2021
On 28 October 2020, the Bulgarian Cabinet approved the 2021 Budget bill drafted by the Finance Ministry at a Cabinet meeting. The President made clear that this is not an electoral Budget. This is a Budget for after the elections, so that there are
See MoreCzech Republic: Government decides to introduce a domestic DST
The Government has recently decided to introduce a domestic DST following the delay in a unified approach at both the global (OECD) and regional level (European Union). The Czech DST is expected to apply temporarily, until an international approach
See MoreCroatia: Prime Minister extends Wage Subsidy Scheme amid COVID-19 pandemic
On 20 October 2020, the Prime Minister and Minister of Labor, Pension System, Family and Social Policy presented the continuation of tax relief measures to preserve jobs due to the crisis caused by the coronavirus pandemic. The main objective of
See MoreItaly declares urgent measures on tax collection
On 18 October 2020, Italy's Council of Ministers issued a release declaring its approval of the draft bill that contains the Budget for the year 2021. On 20 October 2020, Italy has published Decree-Law No. 129 in the Official Gazette
See MoreECJ: Ruling on Transfer Pricing Treatment of Bank Transfers Between Branch and Parent
On 8 October 2020 the European Court of Justice (ECJ) ruled on Romania’s transfer pricing rules in relation to bank transfers from a branch to a head office that is located in another EU Member State. Impresa Pizzarotti concluded two loan
See MoreCzech Republic: Deputies agrees with the postponement of the electronic registration
On 16 October 2020, the deputies approved the proposal of the Ministry of Finance to postpone all four phases of the electronic registration of sales until 1 January 2023. The amendment to the Act on the Registration of Sales is now heading to the
See MoreAustria: Finance Ministry publishes final guide regarding DAC6 reporting obligations
On 21 October 2020, the Finance Ministry published final guidance regarding the reporting requirement of cross border arrangements (DAC6). This final guide covers the definition of terms, reportable arrangements, hallmarks and main benefit test,
See MoreGreece: Supreme Court makes a decision in favour of an informal company
On 23 October 2020, the Supreme Court has made a decision that an informal company cannot be subject to income tax provided by law 2238/1994. An informal company is a company that does not have legal personality because it lacks the constituent
See MoreIreland: Finance Minister publishes Finance Bill 2020
On 22 October 2020, the Finance Minister, Paschal Donohoe TD, published Finance Bill 2020 following Cabinet approval at the Government meeting. The Bill underpins the Government’s support for the economy in the face of Covid-19 pandemic and the
See MoreFrance: Finance Minister announces to delay DST payments up to December 2020
The Minister of Finance, Bruno Le Maire, has recently declared that France intends to collect the country's digital services tax in December 2020, which was due in April and October 2020. The digital service tax in France will apply on the
See MoreAustria signs MAP agreement with Sweden
On 16 October 2020, the Finance Ministry of Austria announced that Austria signed an agreement regarding the implementation of agreements concluded on the basis of Article 22 (Mutual Agreement Procedure) with Sweden. The agreement effects from 6
See MoreMalta: Finance Minister presents Budget for 2020
On 19 October 2020, the Minister for Finance, Edward Scicluna presented the Budget for 2021 to the Parliament. The budget has no tax increases. The key measures regarding tax and incentives are as follows: The tax refund check will be
See MoreSpain gazettes the law for digital services tax and financial transactions tax
On 16 October 2020, the Spanish Official Gazette published the Laws Nos. 4/2020 and 5/2020, implementing a digital services tax and a financial transactions tax. The law includes a 3 % tax on digital services including online advertising, online
See MoreLuxembourg: Finance Minister presents draft budget law for 2021
On 14 October 2020, Luxembourg’s Finance Minister has presented the draft budget law 2020 to the Parliament. There are no measures regarding major tax reform or an increase in the tax rate in the draft budget law. The draft budget laws contain a
See MoreHungary: Parliament approves tax omnibus bill including CFC Rules
On 13 October 2020, the Hungarian parliament approved a Bill No. T/13258, to amend various taxation laws. The bill contains the following measures: Disallow company income tax exemptions to controlled foreign companies from EU blacklisted
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