Belgium announces compliance for pre-filing requests regarding TP
The Belgian ruling commission has announced that pre-filing requests or ruling requests concerning Transfer Pricing (TP) or the patent income deduction regarding the corporate income tax return that will be filed by the end of September 2020 must
See MoreGermany publishes new draft of DAC 6 implementation law
On 26 September 2019, federal government of German issued a draft proposal regarding the implementation of mandatory disclosure rules pursuant to the EU’s Council Directive 2018/822 of 25 May 2018 (commonly referred to as DAC 6) into Germany’s
See MoreHong Kong and Estonia sign new tax treaty
On 25 September 2019, the Secretary for Financial Services and the Treasury of Hong Kong and the Minister of Finance of Estonia signed a comprehensive avoidance of double taxation agreement (CDTA) in Tallinn, Estonia. The agreement sets out the
See MorePortugal legislates EU Directive on Dispute Resolution
On 19 September 2019, the Portuguese Official Gazette published a Law no. 120/2019, the new law establishes dispute settlement mechanisms involving the competent authorities of Portugal and other Member States of the European Union as a result of
See MoreFinland: MFN clause applies in tax treaty with Lithuania
On 2 September 2019, Finnish tax authority published a statement no.67/2019 regarding the application of the most-favored nation (MFN) clause in article 12(7) (Royalties) of Finland’s tax treaty with Lithuania. Under the MFN clause, effective
See MoreGreece: Prime Minister announces tax cuts and promised reform
On 12 September 2019, the Prime Minister has made an announcement of their confirmation to introduce tax rate cuts and other planned tax measures at the opening of the annual International Trade Fair of Thessaloniki. According to plan, corporate
See MorePortugal publishes changes to various Tax Codes
On 18 September 2019, the Portuguese Government officially published the Law no.119/2019. The new law has changed the following provisions: Corporate income tax: The procedure whereby non-resident companies may waive all or part of the
See MoreNetherlands: Budget proposal for 2020
On 17 September 2019, the Dutch Government published the 2020 budget proposals, which includes the Tax Plan for 2020. The 2020 Tax Plan package consists of the following six bills: the 2020 Tax Plan Bill;the Other 2020 Tax Measures
See MoreSweden: Government submits the Budget for 2020
On 18 September 2019, the budget for 2020 was submitted to the Parliament by the Swedish Government. The draft budget provides for the following tax reform: -The most important reform is the abolition of the austerity measures introduced in 1995
See MoreIreland: Finance Ministry issues Budget 2020 strategy
On 11 September 2019, the Minister for Finance and Public Expenditure and Reform issued Budget 2020 strategy. It will be delivered at a time of unprecedented uncertainty but it will be delivered from a position of
See MoreItaly: New resolution amends patent box regime
The Italian Revenue Agency published Resolution No, 81/E of 9 September 2019 in the official gazette to amend the patent box regime made by Law Decree No. 34 of 30 April 2019, which entered into force on 1 May 2019. The updates
See MoreCzech Republic: Cabinet approves draft budget for 2020
On 16 September 2019, Government announced that Czech cabinet approved the draft budget proposal for 2020. This draft budget was prepared by the Ministry of Finance. It focuses mainly on pensions, wages, parental allowance and government spending
See MoreFrance: Court issues an explanatory note and six decisions on tax evasion
The Criminal Division of the Court of Cassation published an explanatory note and delivered six important decisions (n. 1174, no. 1175, no. 1176, no. 1177, no. 1178 and no. 1179) subsequently. This explanatory note helps to explain the exact place
See MoreDenmark: Draft bill on international taxation submits for public comments
On 12 September 2019, the Ministry of Taxes published a major bill on international taxation. The bill will be subjected to a public hearing and subsequently presented to the Danish Parliament. Interested parties can submit their comments by 10
See MoreGermany presents Budget for 2020
On 10 September 2019, the Finance Minister presented the Government's draft Budget for 2020 to the lower house of parliament (the Bundestag). The draft budget includes following measures: Currently, the solidarity tax is a 5.5% surtax on
See MoreUK amends hybrid capital instruments rules
The ‘hybrid capital instruments’ rules are relied upon since 1 January 2019 by many banks and insurers to give corporation tax relief for the coupon payments on regulatory capital securities. These rules have recently been amended by the
See MoreRomania introduces mandatory online submission for CbC Reporting
On 19 August 2019, Romania has published Order No. 2.273, amending the rules on submission of Country-by-Country (CbC) reports and notifications, effective from 26 August 2019. Now both CbC reports and notifications must be submitted through
See MoreGermany proposes corporate tax rate cut for SMEs
On 29 August 2019, the German Economy Minister announced the outline of a plan to reduce the tax and regulatory burden on small and medium-sized enterprises (SMEs) in Germany. The Minister also suggested reducing the tax burden on SMEs by
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