Spain launches a public consultation on DAC6 reporting requirements
On 21 October 2019, the Spanish Ministry of Finance has launched a public consultation on the draft regulation approving the model forms to be used in the context of the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on
See MoreEstonia: Parliament considers bill to ratify BEPS Multilateral Instrument (MLI)
Recently, Bill No. 88 is submitted to the Estonian Parliament for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI), which was signed on 29 June 2018. After
See MoreLuxembourg: Finance Minister presents draft budget law for 2020
On 14 October 2019, Pierre Gramegna, Luxembourg's Finance Minister, presented draft budget law 2020 to the Parliament. According to this law, advance tax rulings issued before 1 January 2015 will be automatically invalid as from the end of the
See MoreAustria: The upper house approves the tax on digital advertising
On 10 October 2019, the upper house of Austria's Parliament passed a digital advertising tax bill. The bill was approved by the Austrian lower house of Parliament on 19 September 2019. The Bill includes the following changes: Under the Digital
See MoreCyprus plans to implement EU Directive on mandatory disclosure rules by the end 2019
On 16 September 2019, the Cyprus Tax Department announced that the legislation implementing the EU Directive 2018/822 on mandatory disclosure requirements will be introduced before the end of 2019. The announcement confirmed that, for arrangements
See MoreSlovenia approves amendments to the Corporate Income Tax Act
On 23 October 2019, the Slovenian government adopted amendments to the Corporate Income Tax Act. The amendments are following: The Corporate income tax is increased from 19% to 20%;A minimum corporate tax at a rate of 7% is introduced which
See MoreCyprus launches a public consultation regarding DAC6 to transpose into local law
On 22 October 2019, the Cypriot tax authorities launched a public consultation on draft legislation to implement DAC6 into local Cypriot law. The consultation is due to run until November 12, 2019. The draft legislation will then be subject to the
See MoreFrance: Public Finance publishes draft guidance on DST for consultation
The General Directorate of Public Finance has published draft guidance regarding the new digital services tax (DST) for public consultation. The new Law No. 2019-759 of 24 July 2019, has been published on July 25, 2019, in the Official
See MoreCyprus and Egypt sign new income tax treaty
On 8 October 2019, Cyprus and Egypt signed an updated Agreement for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Fiscal Evasion and Avoidance, incorporating the OECD model convention. The new text will
See MoreItaly publishes Law 117 to implement EU Directives
On 4 October 2019, Italy has published Law No. 117 in the Official Gazette, approving the legislative decrees for the implementation of several EU Directives. The Directives will be consulted on by parliament but do not require further approval
See MoreGreece: AADE publishes Circular E. 2183 of 10 October 2019 on limitation of interest payments
On 10 October 2019, the Greek Revenue Authority (AADE) published Circular E. 2183 of 10 October 2019 on the deductibility of interest payments that have been grossed-up to include the tax amount. The circular describes that the tax paid is
See MoreGermany publishes updated draft bill on DAC 6 Rules
On 9 October 2019, the German Federal Government issued an update of the draft legislation on Mandatory Disclosure Rules addressing the implementation of the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax
See MoreGreece: Deadline expires for 2019 annual declaration of assets & financial interests
The deadline for electronic submission of the 2019 annual statement of assets & financial interests for natural persons expire on 31 October 2019 based on 2018 income and interest & assets as of 31 December 2018. From 1 November 2019, the
See MoreGermany: Federal Tax Court changes perspective on domestic TP adjustments in tax treaty cases
On 27 February 2019, three recently published decisions (IR 51/17, IR / 73/16, and IR 81/17) provided that the German Federal Tax Court (BFH) had changed its opinion on the application of transfer pricing (TP) rules in relation to transfer
See MoreBulgaria: Draft bill on cross-border arrangements submits for public comment
Recently, the Bulgarian Ministry of Finance issued a draft bill and submitted it for public comment. The draft law transposing the provisions of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning
See MoreFrance: Government publishes transposition order of DAC6
On October 22, 2019, Government published a French Ordinance No. 2019-1068 of 21 October 2019, regarding the Automatic and Compulsory Exchange of Information in the Field of Taxation in Relation to Cross-Border Devices for Reporting. The EU
See MoreCzech Republic: Parliament debates proposed changes to Income Taxes Act
The Chamber of Deputies debate with some changes to the Income Taxes Act, which may come into force in 2020. The measures must be approved by the Chamber and the Senate and signed by the president before coming into force. The provisions of the
See MoreNorway proposes to amends interest deduction limitation rules and R&D incentive scheme
On 7 October 2019, the Ministry of Finance presented its budget proposal for fiscal year 2020. The budget proposed to amends the interest expense deduction limitation rules and the Norwegian research and development (R&D) incentive scheme.
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