Croatia: Regulation on individual income tax law published
The Regulation regarding the Individual Income Tax Law was published on 6th February 2017 by the tax administration. The Regulation describes the tax treatment for the income of students working via student employment agencies, employment related
See MoreBelgium ratifies Social Security Agreement with Morocco
On 23 December 2016, Belgium ratified the Social Security Agreement with Morocco, as published in the Belgian Official Gazette of 2 February 2017. Once in force and effective, the new agreement will replace the existing agreement of
See MoreDouble tax treaty between Hungary and Iran enters into force
The double tax treaty between Hungary and Iran came into force on 1 January 2017. The treaty defines the term "resident" as a person that under the laws of either country is liable to tax there by reason of domicile, residence, place of
See MoreIndia and Cyprus Income tax treaty renegotiated
The Income Tax Treaty between Cyprus and India signed on 18 November 2016, have become available the treaty’s details. Both countries generally provide for the credit method to avoid double taxation. This treaty gives the following withholding tax
See MoreBelgium ratifies Social Security Agreement with Israel
On 23 December 2016, Belgium ratified the Social Security Agreement with Israel, as published in the Belgian Official Gazette of 2 February 2017. Once in force and effective, the new agreement will replace the existing agreement of
See MoreGreece: Intrastat thresholds for 2017 released
According to articles 7 and 10 of Regulation 638/2004, the Greek Statistical Authority has published a press release on 1st February 2017 on about Intrastat reporting thresholds applicable in 2017. On the basis of public announcement, the threshold
See MoreBelgium ratifies Social Security Agreement with Tunisia
On 23 December 2016, Belgium ratified the Social Security Agreement with Tunisia as published in the Belgian Official Gazette of 2 February 2017. Once in force and effective, the new agreement will replace the existing agreement of
See MoreItaly: Detail corporate tax measures mentioned in Budget Law for 2017
The Italian Budget Law for 2017 entered into force on 1 January 2017. From 2017 financial year, the Italian corporate income tax ("CIT") standard rate is reduced from 27.5% to 24 %. However, Banks, parent companies of banking groups, individual
See MoreGreece: Road tax clarifications issued
The Public Revenue Authority has been released a Circular 1014/2017 on 26th January 2017 regarding road tax. It states that road tax administrative acts are not challenged via the administrative appeal procedure, but through an appeal to the
See MoreCyprus: Tax department issues guidance relating to exchange of information with Austria
Recently the Cyprus tax department issued a guidance which is related to the exchange of information with Austria under Directive 2014/107/EU on mandatory automatic exchange of information along with Common Reporting Standard (“CRS”) based
See MoreCyprus: Parliament approves a bill for the payment of overdue taxes by monthly instalments
The Cyprus Parliament has recently approved and voted the bill proposed by parliamentary parties which regulates the payment of overdue taxes in various monthly instalments. Overdue debts under €100,000 can be paid in 54 monthly instalments
See MoreUK, Hong Kong TIEA enters into force
On 31 December 2016, the Tax Information Exchange Agreement (TIEA) between Hong Kong and the United Kingdom was entered into force and that was signed on 19 October 2016. This Agreement provides for the effective exchange of information regarding
See MoreProtocol to treaty between India and Austria signed
India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income on 6 February 2017 in New Delhi. The Protocol was
See MoreIreland: Updates for Implementing EU and OECD Exchange of Information Requirements
On 2 February 2017, Revenue published eBrief 12/17, which explains the updates introduced in the tax and duty manual regarding exchange of information requirements in respect of tax rulings. The key updates are following: Section 1 of the tax and
See MoreBelgium ratifies Social Security Agreement with Turkey
On 23 December 2016, Belgium ratified the Social Security Agreement with Turkey, as published in the Belgian Official Gazette of 2 February 2017. Once in force and effective, the new agreement will replace the existing agreement of
See MoreSingapore, UK TIEA enters into force
On 31 January 2017, the Tax Information Exchange Agreement (TIEA) between Singapore and United Kingdom was entered into force. This Agreement provides for the effective exchange of information regarding tax matters between the tax authorities
See MoreSingapore, Ireland TIEA enters into force
On 31 January 2017, the Tax Information Exchange Agreement (TIEA) between Singapore and Ireland was entered into force. This Agreement provides for the effective exchange of information regarding tax matters between the tax authorities including
See MoreIrish Revenue publishes Finance Act 2016
Irish Revenue published Finance Act 2016 that contains multiple additions in relation to Finance Bill 2016, on 12 January 2017. The key changes are following: Directors' fees: An exemption is available on certain emoluments not more than EUR 5,000
See More