France: 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,
See MoreHungary 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
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