Malta amends EU ATAD Implementation Regulations
Recently, Malta has published Legal Notice No. 29 of 2020 in the Official Gazette amending Regulation 10 of the EU Anti-Tax Avoidance Directives (ATAD) Implementation Regulations. The Regulation states that the reverse hybrid rules will apply from
See MorePoland: Council of Ministers submit ATAD2 hybrid mismatch measures to parliament
On 5 February 2020, Poland's Council of Ministers submitted some tax measures in parliament including the hybrid mismatch measures of the EU Anti-Tax Avoidance Directive as amended (ATAD2). ATAD2 would address tax avoidance through hybrid
See MoreEU: Four more jurisdictions added to blacklist
On 18 February 2020 the European Union (EU) added Panama, Palau, the Seychelles and the Cayman Islands to its blacklist of non-cooperative jurisdictions for tax purposes. The decision was taken at the meeting of the EU economic and finance
See MorePoland: Administrative Court allows expenditure on intra-group services
On 6 February 2020, Polish Administrative Court (the “Court”) issued its decision on a transfer pricing case regarding Poland vs Shared Service Center. A shared service center (SSC) in Poland both provided intra-group services to the group
See MoreLuxembourg amends draft law implementing DAC6
On 14 February 2020, Luxembourg published a revised version of the draft law 7465 amending the original provisions on the professional privilege exemption. Luxembourg Government submitted the draft law on 8 August 2019 which has not been passed
See MoreCzech Republic: President signs a Law to ratify BEPS MLI
On 13 February 2020, the President signed a law for ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). On 28 November 2019, the Chamber of Deputies approved the ratification of BEPS MLI. The
See MorePortugal publishes revised version of draft legislation on DAC6
On 31 January 2020, the Government of Portugal published revised draft legislation to implement the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The final law is expected to be
See MoreGreece: Public Revenue Authority publishes a Circular for clarifying about dividend tax rate
The Public Revenue Authority (AADE) published Circular E. 2012 of 30 January 2020, which provides guidance on reducing the withholding tax (WHT) rate from 10% to 5% under the provisions of article 24 of Law 4646/2019. This also states that this
See MoreSweden: Government submits final draft law to implement DAC6 to Parliament
On 4 February 2020, the Swedish Government has submitted final draft law on implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements (DAC6) to Parliament. The Ministry of Finance
See MoreRomania enacts EU mandatory disclosure regime (DAC6)
On 28 January 2020, the Government of Romania has published Ordinance no. 5 of 28 January 2020 in the Official Gazette for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning
See MoreBulgaria: Finance Ministry publishes an Order to incentive purposes
On 30 January 2020, the Finance Ministry published Order No. ZMF-89 of 30 January 2020 regarding lists the municipalities with unemployment rates, which is used to provide tax incentives for manufacturing companies including complete corporate
See MoreIreland: Tax Revenue publishes e-Brief No. 029/20 on “main benefit test” under DAC6 legislation
On 4 February 2020, the Tax Revenue published a manual, entitled “e-Brief No. 029/20”, relating to the “main benefit test. The manual has been updated to include a reference to the EU mandatory disclosure regime (DAC6), which comes into force
See MoreItaly issues updated tax return forms with instructions for 2020
On 31 January 2020, the Italian Revenue Agency released instructions on procedure to comply with income tax return filing obligations during 2020. The Italian tax authority said the following changes have been incorporated into returns this year:
See MorePortugal: Draft bill to implement ATAD1 and ATAD2
On 30 January 2020, a draft bill was presented to the Parliament for the execution of the hybrid mismatch rules of the EU Anti-Tax Avoidance Directive and the Directive as amended (ATAD1 and ATAD2). This consists of measures to counter hybrid
See MoreFrance: Tax authority publishes guidelines on the new provisions on abuse of law
On 31 January 2020, the tax authority published guidelines regarding the application of the new general anti-abuse rules (GAAR). This guide provides an extension of Article 6 of the EU Anti-Tax Avoidance Directive 2016/1164. It may also apply in
See MoreUK notifies the WTO of withdrawal from the European Union
A communication from the UK on 1 February 2020 (WT/GC/206) has set out detail on the implications for the World Trade Organisation (WTO) of its departure from the European Union (EU). The communication notifies the WTO that the UK ceased to be a
See MoreCyprus deposits MLI ratification instrument
The OECD announced that Cyprus deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 23 January 2020. Cyprus also submitted its MLI
See MoreLuxembourg updates list of jurisdictions for exchanging CbC reports
On 27 January 2020, Luxembourg Ministry of Finance published Grand-Ducal Regulation of 24 January 2020 amending Grand-Ducal Regulation of 13 February 2018. The Regulation updates the list of jurisdictions for exchanging Country-by-Country (CbC)
See More