Austria releases digital services tax guide
On 20 December 2019, Finance Ministry published guide regarding digital service tax. Under the guide, 5% tax will be applicable for advertisements on a digital interface. Accordingly, this guide helps to know of how to submit or payment digital
See MoreLuxembourg implements EU ATAD 2 anti-hybrid measures
On 19 December 2019, the Luxembourg Parliament approved draft law implementing EU Anti-Tax Avoidance Directive (2017/952) (ATAD 2) into Luxembourg domestic law. ATAD 2 amends the EU Directive 2016/1164 which applies to mismatches between EU member
See MoreGermany gazettes a law implementing EU directive on tax dispute resolution mechanism
On 12 December 2019, the German Official Gazette published a law implementing EU directive on tax dispute resolution providing a uniform mechanism to address tax treaty disputes among EU member states that meets the BEPS Action 14 minimum
See MoreGermany: Federal Ministry of Finance publishes a draft law with significant changes to TP rules
On 10 December 2019, Germany published a draft law implementing EU anti-tax avoidance directive. The Draft Law includes significant changes to the German transfer pricing rules. The following proposed changes have been taken place under the
See MoreLithuania: Parliament approves higher corporate income tax for banks
On 18 December 2019, Lithuanian lawmakers passed higher corporate tax for banks from January 2020. Higher corporate tax rate of 20% will apply to bank profit exceeding 2 million euros. Banks, like other legal entities in Lithuania, are now taxed at
See MoreDTA between Estonia and Hong Kong enters into force
On 18 December 2019, the Double Taxation Agreement (DTA) between Estonia and Hong Kong was entered into force and applies from 1 January 2020 for Estonia and from 1 April 2020 for Hong Kong. The DTA contains Dividends rate 0% if the beneficial
See MoreDTA between Czech Republic and Korea (Rep.) enters into force
On 20 December 2019, the Double Taxation Agreement (DTA) between Czech Republic and Korea (Rep.) was entered into force and applies from 1 January 2020. From this date, the new DTA replaces the former DTA of 1992. The DTA contains Dividends
See MoreFrance: Parliament adopts Finance Bill 2020
On 19 December 2019, The French parliament adopted the Finance Bill for the year 2020 but it is still require to review by the constitutional court. Provisions include in the Finance Bill are given below: Corporate Tax rate The draft Finance
See MoreLuxembourg: Parliament approves budget law for 2020
On 19 December 2019, Luxembourg Parliament approved 2020 budget law which was presented by Luxembourg’s Finance Minister on 14 October 2019. According to the budget law, the advance tax rulings issued by the Luxembourg tax authorities before 1
See MoreEstonia: President signs a Law to ratify BEPS MLI
On 13 December 2019, Estonian President has signed a law for ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). On 4 December 2019, the Parliament ratified the MLI. Estonia must now deposit
See MoreNetherlands approves Tax Plan 2020
The Dutch Ministry of Finance has announced that the Senate has approved the 2020 Tax Plan on 17 December 2019; however the Dutch Government published the 2020 budget proposals on 17 September 2019. Some of the key changes from 1 January 2020
See MoreDTA between Bangladesh and Czech Republic signs
On 11 December 2019, the Double Taxation Agreement (DTA) between Bangladesh and Czech Republic was signed in Prague. The DTA contains Dividends rate 10% for at least 25% capital holding; otherwise 15%, Interest rate 10%, and Royalties rate
See MoreSlovenia publishes guidance on the latest amendments to the CITA
On 2 December 2019, the tax authority has published guidance regarding the latest amendments to the Corporate Income Tax Act (CITA). The guidance also provides for a detailed description about implementation of the hybrid mismatch rules of the EU
See MoreSweden publishes draft law to implement DAC6 reporting requirement
On 6 December 2019, the Swedish Ministry of Finance has published draft law on implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements (DAC6). This includes measures to require
See MoreGreece: Parliament adopts tax reform measures
On 6th December 2019, Greek Parliament approved tax reform bill (Law 4646/2019), which contains several measures regarding corporate income tax, personal income tax, withholding tax rates, the participation exemption for capital gains
See MoreIreland: Revenue publishes eBrief No. 202/19 regarding capital loss treatment
On 5th December 2019, the Irish Revenue Commissioners published eBrief No. 202/19 regarding guidance on the treatment of allowable losses for Capital Gains Tax (CGT) purposes. Under the eBrief No. 202/19, Tax and Duty Manual Part 19-02-05 has been
See MoreBulgaria: Government publishes Law on Amendments to the Corporate Income Tax Act
On 6 December 2019, Law on Amendments to the Corporate Income Tax Act was published in the Official Gazette and it was adopted by the National Assembly on 21st November 2019. Similar amendments in Controlled Foreign Company (CFC) and transfer
See MoreLithuania: Parliament adopts draft bill to increase tax rate and threshold for corporate
In October 2019, the Lithuanian parliament adopted two draft bills that would increase the threshold for cash accounting and increase the corporate tax rate. The bill no. XIIIP-4115 which contains amendments to increase threshold for using cash
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