Hungary releases guideline on DAC6 reporting
On July 20, 2020, the Hungarian National Tax and Customs Administration published guidelines on the new reporting obligation for cross-border tax planning agreements (DAC6). The guidelines provide an overview of the reporting legislation, the
See MoreCyprus: Tax department further extends deadlines for tax settlements of 2015
On 21 July 2020, the Cyprus tax department announced to further extends the deadlines for tax debt settlements for periods that ended by Dec. 31, 2015. The deadlines are extended to 14 January 2021 from 14 August 2020 to settle debts finalized by
See MoreGreece: Parliament approves Law regarding deduction on R&D expenditures
On 27 July 2020, the Parliament approved a Law, which provides the increased deduction of research and development (R&D) expenditures. The increased deduction applies from 1 September 2020. To claim 100% deduction, supporting documentation for
See MoreMalta issues legal notice regarding deferral of DAC6
On 31 July 2020, Malta’s Commissioner for Revenue has issued Legal Notice 315 of 2020, which enacts the deferral of reporting on EU cross-border arrangements (DAC6) due to COVID-19 pandemic. All reporting and data exchange deadlines in 2020, the
See MoreSpain: Lower house of parliament approves draft bills for DST & FTT
On 30 July 2020, the Spanish Lower House of Parliament approved draft laws for a tax on digital services (DST) and a financial transaction tax (FTT). Accordingly, 3% tax to be levied on digital services including online advertising, online
See MoreCzech Republic: Supreme Court makes a decision regarding statute of limitations
On 2 July 2020, the Supreme Court issued a decision against the tax authorities regarding statute of limitations period extension. On 25 November 2015, the tax authority started a tax inspection concerning the taxpayer’s corporate income
See MoreHungary defers MDR reporting deadlines for six months
On 14 July 2020, the Hungarian Government issued a new regulation, deferring the reporting deadlines by six months. The deadline for the reporting of arrangements in the period between 25 June 2018 and 30 June 2020 will be 28 February
See MoreUS and Switzerland sign competent authority arrangement on implementation of arbitration
On 28 July 2020, U.S. and Switzerland signed an agreement for the implementation of the arbitration process provided for in Article 25 (Mutual Agreement Procedure) of the 1996 income tax treaty between the two countries as amended by the 2009
See MoreSlovenia extends individual tax return deadline for 2019
On 31 July 2020, Slovenia has extended the individual income tax returns deadline from 15 July 2020 to 31 August 2020. The extension has been announced due to the ongoing COVID-19
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreFrance: Parliament approves the postponement of DAC6 reporting deadlines
Due to coronavirus outbreak, the European Commission has recently agreed to delay the entry into force of certain European Union (EU) taxation measures. Among these is the delay of Council Directive 2018/822, commonly known as the Directive on
See MoreCyprus postpones reporting cross-border arrangements (DAC6)
On 27 July 2020, the tax authority of Cyprus issued a notice declaring an initial deferral of DAC6 reporting on cross-border arrangements. The submission of DAC6 information in Cyprus is extended as information on reportable arrangements
See MoreGreece: Government publishes a draft legislation to extend the DAC6 reporting deadline
Due to coronavirus outbreak, the European Commission has recently agreed to delay the entry into force of certain European Union (EU) taxation measures. Among these is the delay of Council Directive 2018/822, commonly known as the Directive on
See MoreLuxembourg: Parliament approves Bill on deferral of DAC 6
On 22 July 2020, the Luxembourg Parliament approved Bill No. 7625 for filing and exchanging information on reportable cross-border arrangements under Directive 2018/822/EU (DAC 6) amid COVID-19 pandemic. The Bill includes the following information
See MoreRomania postpones reporting cross-border arrangements (DAC6)
On 1 July 2020, Romania has published Ordinance No. 107 in the Official Gazette regarding deferral of reporting on EU cross-border arrangements (DAC6) due to Covid-19 pandemic. Previously, the Ordinance clarifies that the deadline for
See MoreCOVID 19: Poland further postpones withholding tax rules to 31 December 2020
On 24 June 2020, the Polish Ministry of Finance released a decree that further postponed the effective date of withholding tax rules for corporate income tax purposes. The new effective date is 31 December 2020. The withholding tax was originally
See MoreBelgium: Further proposal for digital services tax (DST)
The digital services tax (DST) was at first proposed in January 2019, but it was on hold due to the general elections. Again the proposal was reintroduced in July 2019, but was not discussed in the national parliament. An updated version of the
See MoreCyprus amends treatment of intangible assets
On 17 July 2020, the House of Representatives of Cyprus approved a bill amending Section 9(1)(l) of the Income Tax Law (ITL) which introduced a number of changes with respect to the tax treatment of intangible assets. As per section 9(1)(l)
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