Denmark: Government proposes to extend the payment deadline of wage tax and VAT
On 28 May 2020, the Ministry of Taxation issued a release where the Government and the economic group proposed to extend the payment deadlines for wage tax, labor market contributions, and VAT. With the proposal, Danish companies can look
See MoreFrance: Government postpones several payment of tax due to COVID-19 pandemic
On 29 May 2020, the Government made an announcement regarding an extension of the deadlines from 15 June 2020 to 30 June 2020 for the payment of corporate tax (IS) and contribution on added value (CVAE) installments due to
See MoreCzech Republic: Finance Minister announces to delay the DST with a reduced rate
On 14 May 2020, the Finance Minister announced in a televised interview that the Government agreed to reduce the digital service tax (DST) from 7% to 5%. Also, the Government agreed to postpone the introduction of DST until 1 January 2021. The
See MoreAustria: Government announces tax measures regarding VAT payment & penalty scheme
The Government announced some tax relief measures in response to coronavirus pandemic on different date regarding VAT. These are: Announcement on 29 May 2020 The interest for VAT declarations not submitted on time, will not be automatically
See MoreNetherlands introduces emergency package 2.0 in response to COVID-19 pandemic
On 20 May 2020, the government of the Netherlands further announced relief measures (emergency package 2.0) in response to COVID-19 pandemic. The key issues of extended and new measures in “emergency package 2.0” is following: The
See MoreFinland: Tax authority publishes guidance on DAC6
On 8 May 2020, the EU Commission has proposed a number of amendments to the DAC6 Directive governing reportable cross-border arrangements. On the basis of the proposal, the Finnish tax authority published a guideline. The Act on the Reporting
See MoreCyprus: BEPS MLI enters into force
On 13 May 2020, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into
See MoreNorway issues revised budget for the fiscal year 2020
On May 12, 2020, the Norwegian government submitted a proposal for a revised budget for 2020. The revised budget includes increased flexibility for taxpayers to request an extension of tax obligations due to difficulties related to the COVID 19
See MoreRomania introduces 10% discount provision on quarterly tax payments
On 15 May 2020, Romania has published Law No. 54 in the official gazette no. 396, which provides a discount provision on corporate income tax due for the 2nd and 3rd quarters of 2020 in response to the COVID-19 pandemic. This provision
See MoreFrance: Government announces to extend VAT refund deadline until 30 September 2020
On 18 May 2020, Government announced that taxable persons not carrying out tax operations and established outside EU may request reimbursement of the VAT they have incurred there, under certain conditions. Also, Government announced to extend the
See MoreIceland: Parliament passes a bill to amend various taxes
On 6 May 2020, the Icelandic Parliament passed a Bill No.1329 amending income, withholding, excise, and VAT laws. The bill includes the amendments for corporate taxpayers in relation to the ISK 100 million safe harbor threshold for Iceland's
See MoreLuxembourg: Tax Administration issues guidance on DAC6
On 14 May 2020, the Luxembourg Tax Administration has issued 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 describe Object,
See MoreEstonia extends individual tax return filing deadline amid COVID-19
On 4 May 2020, the Estonian tax authority has announced that due to the special situation, all offices of the Tax and Customs Board across Estonia will be closed at least on 18 May. The deadline for submitting individual paper tax returns has been
See MoreFrance: Tax authority publishes final guidelines for ATAD interest deduction limitations
On 13 May 2020, the tax authority published final guidelines regarding restrictions on interest deduction, including the amendments introduced by the Finance Law for 2019 to implement the EU Anti-Tax Avoidance Directive (ATAD). In accordance with
See MoreBelgium revises tax return filing deadlines
On 5 May 2020, the Belgian Ministry of Finance has announced that "Tax-on-web" on the MyMinFin portal is now available for income tax returns. The announcement also lists out the tax return filing deadlines for individual and companies in 2020, as
See MoreBelgium clarifies interest restriction rule due to COVID-19 pandemic
On 5 May 2020, the tax authority of Belgium published Circular No. 2020/C/62 providing new clarifications on the “grandfathering” rule, under the interest deduction limitation rule, loans made before 17 June 2016 are excluded from the scope of
See MoreCzech Republic deposits ratification instrument for MLI
On 13 May 2020, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, Czech Republic
See MoreSweden: Tax agency implements the OECD principles on financial transactions
On 24 April 2020, the Swedish tax agency has updated the financial transaction page. In February 2020, the OECD published a new Chapter X of the guidelines on financial transactions. Financial transactions between companies within a group are
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