France publishes 2024 Q1 floating rate for shareholder loans
On 28 March 2024, the Official Journal of France released the inaugural quarterly average floating rate for bank loans and credit facilities exceeding two years in maturity for 2024. This rate is utilized in determining the yearly maximum interest
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Belgium proposes reforming investment deduction regime
The Belgian government passed a draft law to overhaul the investment deduction system. Effective 1 January 2025, the reforms pertain to tax deductions for investments, which are categorized into three groups. The standard amortization for tax
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Cyprus announces updates to its transfer pricing FAQs
On 28 March 2024, the Cyprus Tax Department released the updated version of its English-language Frequently Asked Questions (FAQs) on transfer pricing. The FAQs present the questions and the corresponding answers as published on the Tax
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Poland introduces new reporting legislation for digital platform operators (DAC7)
On 22 March 2024, Poland announced a new legislation for the implementation of the Council Directive (EU) 2021/514, known as DAC7. The bill was published on the Government Legislation Centre's website. The legislation introduces several key
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Hungary: Central bank lowers base interest rate
On 26 March 2024, Hungary’s National Tax and Customs Administration disclosed that the Hungarian National Bank has reduced the central bank base rate by 75 basis points from 9.00% and set it at 8.25%. The revised base interest rate went into
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Luxembourg publishes global minimum tax pillar 2 FAQs
On 25 March 2024, the Luxembourg Administration of Direct Tax (ACD) released Frequently Asked Questions (FAQs) on the Global Minimum Tax - Pillar 2. The FAQs are related to the enforcement of the Law of 22 December 2023 relating to effective minimum
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France updates non-cooperative states and territories list
The French General Tax Code's list of non-cooperative States and territories (NCSTs) was updated via Decree on 16 February 2024 and published in the Official Journal on 17 February 2024. The list includes the following 16 states and territories:
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Germany: Bundesrat approves growth opportunities Act
On 22 March 2024, the German upper house of parliament (Bundesrat) declared its endorsement of the Growth Opportunities Act. The lower house of parliament (Bundestag) gave its approval to the Act on 23 February 2024. The bill, initially proposed as
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Portugal extends CIT return and payment deadline for 2023
On 14 March 2024, the Secretary of State for Fiscal Affairs in Portugal issued Order No. 176/2024-XXIII, this extends the deadline for submitting the corporate tax return (CIT) and making the final payment for the tax period of 2023 until 15 July
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Sweden: MoF proposes updates to pillar 2 global minimum tax rules
On 19 March 2024, the Swedish Ministry of Finance (MoF) released proposed amendments to the Act on Additional Tax, aimed at incorporating the Pillar 2 global minimum tax as outlined in Council Directive (EU) 2022/2523. As per the proposal, a
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Poland: Parliament passes public CbC reporting legislation
The Polish Parliament has passed a law implementing public Country-by-Country (CbC) reporting in accordance with the requirements of Directive (EU) 2021/2101. This legislation establishes a public reporting threshold for companies with annual
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Spain releases 2023 personal income and wealth tax returns forms
On 22 March 2024, the Spanish Tax Agency published Order HAC/265/2024 in the Official Gazette. This announcement introduces the personal income tax and wealth tax return forms (modelos) for the fiscal year 2023. These are as follows: Form
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Lithuania: Government submits draft law Implementing Pillar 2 global minimum tax
Lithuania's parliament is reviewing a Draft Law No. XIVP-3533 to partially implement a global minimum tax. This aligns with their plan to delay some key parts of the tax until 2029. The delay is allowed by EU rules for countries with few large
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Lithuania sign MCAA to exchange information with respect to income earned on digital platforms
On 4 March 2024, Lithuania signed the multilateral competent authority agreement (MCAA) on the automatic exchange of information on income derived through digital platforms, according to an update published by OECD on 12 March 2024. The DPI-MCAA
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Belgium issues guidance on pillar 2 global minimum tax
The Federal Public Service (SPF) Finance of Belgium has released the guidance on the Pillar 2 global minimum tax. The guidance outlines the context of the Pillar 2 global minimum tax and its enforcement in Belgium. Furthermore, the guidance also
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Spain: Government eyes reintroducing unconstitutional tax measures
The Spanish government announced that it is considering reintroducing specific tax measures after the Constitutional Court of Spain has ruled them as unconstitutional. On 18 January 2024, the Constitutional Court ruled that particular provisions of
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Germany introduces stricter reporting requirements for listed companies under new tax relief Act
The Federal Central Tax Office (BZSt) has released a communication manual outlining the requirements of the German Withholding Tax Relief Modernization Act. This act mandates that listed companies in Germany report shareholder information to the
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Germany: Federal central tax office issues updated CRS manual
On 5 March 2024, the German Federal Central Tax Office (BZSt) published Newsletter No. 01/2024, addressing updates on the common reporting standard (CRS). Notably, the newsletter announces an extension of the deadline for the non-objection waiver
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