Sweden proposes to deny deductions for interest expenses regarding debts to EU blacklist countries
On 3 September 2020, the Swedish Government has announced to deny deductions for interest expenses regarding debts to EU blacklist countries. The EU's work against tax planning and harmful tax competition has been going on for a long
See MoreMalta: Commissioner for Revenue issues ATAD implementation Guidelines
On 31 August 2020, the Maltese Commissioner for Revenue has issued Guidelines in relation to the Anti-Tax Avoidance Directives Implementation Regulations (ATAD) on its website. The guidelines on the ATAD Implementation Regulations were issued in
See MoreGreece: Government publishes a Law amending APA rollback rules
On 31 July 2020, the Government Officially published Law 4714/2020, which amends the existing advance pricing agreement (APA) provisions. The new Law helps to comply with the minimum standard under Action 14 of the OECD’s base erosion and profit
See MorePoland clarifies the treatment of dividends under TP rules
On 6 August 2020, the Polish Ministry of Finance has issued a guidance on whether a dividend payment among related entities falls within the scope of the definition of a “controlled transaction” for transfer pricing purposes. The uncertainty
See MoreMalta issues Regulations on temporary support measures amid COVID-19
On 25 August 2020, Malta has issued Legal Notice No. 345, which clarifies Regulations on research and development (R&D) tax credits for corporate income and individual income tax in response to the COVID-19 pandemic. The Legal Notice includes
See MoreDenmark: Ministry of Taxation publishes a Bill regarding deduction for R&D expenses
The Ministry of Taxation has recently published a draft Bill, which provides an increase in the allowed deduction of R&D expenses up to 130% for the 2020 and 2021 tax years to give support to companies and investment during COVID-19 pandemic.
See MoreItaly finalizes legislative decree for the implementation of DAC6
On 30 July, Italy has published Legislative Decree No. 100 in the Official Gazette as approved by the Council of Ministers for the implementation of the required reporting and exchange of information on cross-border arrangements as per
See MoreFrance: Tax administration postpones deadline of annual transfer pricing return
On 14 August 2020, the tax administration announced that the deadline of annual transfer pricing return is extended until 31 January 2021 with financial year ended on 31 March 2020. Previously, On 10 June 2020, the tax authority announced to extend
See MoreCzech Republic: Financial Administration confirms delay of DAC6 reporting obligations
On 19 August 2020, the Financial Administration published an announcement about the Official publication of a Law 343/2020 of 14 August 2020 regarding the transposing the DAC6 cross-border arrangement reporting obligations. This Law will take enter
See MoreMalta: Deadline for applying for Fiscal Unity extended to 30 September 2020
On 14 August 2020, the Maltese Commissioner for Revenue has announced that the deadline for applying for fiscal unity in respect of the Year of Assessment 2020 is being extended from 31 August 2020 to 30 September
See MoreFinland: Ministry of Finance announces budget proposal for 2021
On 12 August 2020, the Finnish Ministry of Finance announced the 2021 budget proposal including following tax measures. A temporary incentive R&D tax deduction for 2021-24 for business investments in intangible assets, with an additional
See MoreIreland: Revenue publishes guidance regarding loss relief for COVID-19 affected companies
On 6 August 2020, the Revenue published an eBrief 150/20 regarding loss relief for COVID-19 affected companies. A new Tax and Duty Manual has been published to provide guidance on the operation of section 396D TCA, as well as to provide information
See MoreFinland: Tax authority publishes updated base and reference rate for tax purposes
On 31 July 2020, the Finnish Tax Authority has published updated guidelines on the base and reference rate for tax purposes One of the key aspects of the update is in regard to interest due for late payment, which includes that interest on arrears
See MoreCzech Republic: Chamber of duties publishes a Law regarding dispute resolution
On 6 August 2020, the Chamber of duties Officially published Law 335/2020, which provides rules to ensure about the effective implementation of dispute resolution mechanisms under EU Council Directive 2017/1852. This Law will enter into force on 15
See MoreLithuania defers MDR reporting deadlines for six months
On 30 July 2020, the Lithuanian State Tax Inspectorate released amendments to the Mandatory Disclosure Regime (MDR) rules to introduce a six-month postponement of the European Union (EU) Directive on Mandatory Disclosure and Exchange of
See MoreGreece: Parliament published two Laws to introduce various changes in transfer pricing context
On 31 July 2020 and on 29 July 2020, the Greek Parliament Officially published two Laws, L. 4714/2020 and L. 4712/2020 respectively regarding various sections of transfer pricing. The two Laws cover the following changes: Tax dispute Resolution
See MoreFrance: Government publishes third amending Finance Law for 2020
On 31 July 2020, the Government Officially published Law No. 2020-935, which was basically third amending Finance (Budget) Law for 2020. The Law includes the following changes: Deferral of DAC6 reporting obligations According to the Law, the
See MoreBulgaria: Parliament publishes a Law to extend the deadline for DAC6
On 4 August 2020, the National Assembly Officially published a Law to extend the due date of cross border arrangements (DAC6). According to the Law, the deadline to report arrangements, which was implemented between 25 June 2018 and 30 June 2020,
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