UK: OECD rules on cross-border arrangements to replace DAC 6
On 4 January 2021 HMRC confirmed that the EU rules on mandatory reporting of cross-border tax arrangements involving an EU member state (DAC 6) will mostly cease to apply in the UK from 2021. Under the EU rules set out in DAC 6, cross-border tax
See MoreIreland: Finance Minister publishes a feedback on ATAD interest limitation rule
On 23 December 2020, the Finance Department published feedback statement, which considers the final ATAD measure, an Interest Limitation Rule, which will also be implemented in Finance Bill 2021. In Ireland, the general anti-abuse rule (GAAR) met
See MoreMalta: CFR releases guideline on DAC6 reporting
On 4 January 2021, the Maltese Commissioner for Revenue (CFR) has released guidelines concerning the mandatory disclosure and exchange of cross-border tax arrangements (DAC6) as per Council Directive (EU) 2018/822 of 25 May 2018. The guidelines
See MoreGermany: Ministry of Finance extends tax payment relief measures for COVID-19
Germany’s Ministry of Finance (MOF) released decrees on 21 and 22 December 2020 that extend various tax measures in response to the coronavirus (COVID-19), including administrative measures relating to corporate income tax payments and extension
See MoreDenmark: Parliament temporarily increases R&D deduction
In the late December 2020, the Parliament published Legislation to temporarily increase the deduction for research and development (R&D) up to 130%. The legislation notifies the following issues: Company conducts R&D activities for
See MoreLuxembourg intends to extend the tax return filing deadline for 2019 and 2020
On 21 December 2020, Luxembourg's Ministry of Finance has issued a press release regarding the extension of filing deadlines for tax returns due to the ongoing COVID-19 pandemic. The deadline for filing individual and corporate income tax (CIT)
See MoreEU finalises Investment Agreement with China
On 30 December 2020 the EU and China confirmed that they have agreed in principle the provisions of an investment agreement. The agreement aims to resolve some of the difficulties that have been encountered by European companies trading in China.
See MoreFrance: Government publishes Finance Law for 2021
On 30 December 2020, the Government Officially published Finance Law for the year 2021. On 17 December 2020, the French Parliament approved the Finance Bill for 2021. The Act includes: Corporate Income Tax In the context of the Covid-19
See MoreEU and UK Sign the Trade and Cooperation Agreement
On 30 December 2020 the EU-UK Trade and Cooperation Agreement was signed by the EU leaders and by the UK Prime Minister. The deal was also approved by the UK Parliament which was recalled for the purpose of debating and voting on the agreement. The
See MoreEU and UK: Trade and Cooperation Agreement Approved by EU Ambassadors
On 28 December 2020 the EU ambassadors unanimously approved the Trade and Cooperation Agreement between the EU and the UK. The agreement is to be considered by the UK parliament on 28 December and if approved it will take effect provisionally from
See MoreGreece: AADE publishes preferential tax regime status for the 2019
On 7 December 2020, the Greek Public Revenue Authority (AADE) published Circular No. A.1267 of 7 December 2020, which determines the states that have a preferential tax regime based on the provisions of par. 6 and 7 of article 65 of law 4172/2013
See MoreFrance: Tax Authority announces a webpage regarding DAC6 reporting
Recently, the Tax Authority has announced a webpage entitled “Déclaration des dispositifs transfrontières”, which contains french specifications for the reporting of cross-border schemes under DAC6 and the Mandatory Disclosure Rules (MDR).
See MoreSweden: Parliament approved Budget for 2021
On 17 December 2020, the Swedish Parliament (Riksdag) has approved Budget for fiscal year 2021. The Budget includes the following key tax measures: Temporary tax reduction of 3.9% of the acquisition value of machinery and equipment
See MoreCroatia: Government publishes Tax Reform Law 2021
On 11 December 2020, the Government published Tax Reform Law for the year 2021, which includes Law on Amendments to the Income Tax Law, the Law on Amendments to the Corporate Tax Law, and the Law on Amendments to the Value Added Tax Law. The Tax
See MoreCzech Republic: Tax Authority publishes Q&A regarding DAC6 obligations
On 9 December 2020, the General Financial Directorate published a document containing most frequently asked questions and answers in relation to the mandatory disclosure of reportable cross-border arrangements (DAC6). According to the document, the
See MoreAustria: Parliament approves winter package due to COVID-19 pandemic
On 17 December 2020, the Parliament approved the COVID-19 Tax Measures Act. Recently, the Ministry of Finance has announced the draft winter package on tax measures for the coronavirus outbreak. The package includes the measures to introduce the
See MoreEstonia: Parliament adopts Law on deferral of DAC6
On 12 December 2020, the Estonian Parliament has adopted the Tax Information Exchange Amendment Act on its website regarding deferral of DAC6. The Law entered into force on 4 December 2020, and shall be applied retroactively from 30 June
See MoreBulgaria: Government publishes new deadline for transfer pricing documentation
On 11 December 2020, the Bulgarian Government published the amendments to the Act on Tax and Social Security Procedure Code (TSPC) in the State Gazette. The National Assembly adopted an Act amending and supplementing the TSPC. According to the
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