Slovenia proposes to change the PIT & CIT rates
On 18 June 2019, the Ministry of Finance proposed changes to personal income tax (PIT) and corporate income tax (CIT) rates, which are expected to be introduced in 2020. The proposed measures are: Individual tax: An increase in the
See MorePoland publishes explanatory note addressing transfer pricing comparability analyses
On 19 June 2019, Poland Ministry of Finance published an explanatory note addressing transfer pricing comparability analyses. Accordingly, database for comparables could be selected locally, regionally, or even globally by considering
See MorePortugal approves MLI
On 21 June 2019, the Portugal's parliament approved the resolution for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). After the ratification process,
See MoreNetherlands: Consultation on tax group regime
The Finance Ministry of the Netherlands has announced the launch of a public consultation on the design of a new corporate tax group regime to replace the current fiscal unity regime. The consultation includes four possible
See MoreSlovak Republic approves a draft law to update income tax act
On 29 May 2019, the Slovak government approved a draft Law to update the Income Tax Act. The draft law proposes the implementation of Directive 2017/952 amending Directive 2016/1164 as regards hybrid mismatches with other countries. It also
See MoreGeorgia and Italy sign MOU on implementation of APA and MAP practice
On 6th June, 2019 Mr. Paolo Valerio Barbantini, Deputy Director General of the Italian Revenue Agency, and Mr. Vakhtang Lashkaradze, Director General of the Revenue Service of Georgia, met in Tbilisi, Georgia, to sign the Memorandum of
See MoreBelgium updates EU directive on tax dispute resolution
Belgium has published the Law of 2 May 2019, which transposes Council Directive (EU) 2017/1852 of 10 October 2017 on tax dispute resolution mechanisms in the European Union. The directive lays down rules on a mechanism to resolve
See MoreCzech Republic: Ministry of Finance releases latest guidance on transfer pricing
On 31 May 2019, Czech Ministry of Finance published Guidance GFR D-34 on the application of international standards to the taxation of related party transactions. The guidance replaces existing Guidance D-332. Together with this new guidance,
See MoreBulgaria: Parliament adopts amendments to TP documentation bill at first-reading
On 5 June 2019, the Bulgarian Parliament adopted at first reading amendments to the Tax and Insurance Procedure Code, which introduced the new transfer pricing (TP) documentation requirements. One of the most important changes is in relation to
See MoreHungary plans to take several tax measures for maintaining economic growth
On 31 May 2019, the Ministry of Finance announced the Government-approved Action Plan for the Protection of the Economy. To help small businesses, the small business tax rate (KIVA) will be reduced from 13% to 12% from 1 January 2020. The tax cut
See MoreGreece extends deadline for CIT returns
Recently, the Ministry of Finance issued a decision (No A 1211/2019) extending the deadline for the filing of corporation tax returns for 2018. The deadline is extended until 29 July 2019. Legal persons and entities that have not filed an income
See MoreSpain releases corporate income tax return form for FY 2018
On 17 May 2019, Spain published Order HAC/554/2019 of 26 April 2019 in the Official Gazette approving the corporate income tax and non-resident income tax returns corresponding to permanent establishments and entities under the regime of
See MoreGreece amends tax incentives to extend the shared services centers
On 14 May 2019, Greece published document No. Ε.2076, sets forth the provisions of article 38 of Law 4605/2019 (Official Gazette Issue A’ 52/1 April 2019) amending the provisions of Law 89/1967, to broaden the relevant framework and incentivize
See MorePoland publishes law amending CbC reporting rules
On 15 April 2019, Poland published the Act of 4 April 2019 amending the Act on the exchange of tax information with other countries and certain other acts including Country-by-Country (CbC) reporting rules. Under this, if a group prepares its
See MoreBelgium Updates XML Tool and the XSD schema for Local File
The Belgian Federal Public Service (SPF) Finance has published an update version 2.1 of the XML tool and the XSD schema for the Transfer Pricing (TP) Local file (Form 275 LF), which must be used for Local files submitted via the MyMinfin platform
See MoreBelgium updates TP notification requirement
The annual Country-by-Country (CbC) notification requirement has been amended by the law of 2 May 2019 that was published in the Belgian Official Gazette on 15 May 2019. This new law amended Belgian Transfer Pricing (TP) reporting
See MoreGreece transposes the rules of the EU Anti-Tax Avoidance Directive
On 24 April 2019, Greece published Law 4607/2019 in the Official Journal containing measures to implement certain aspects of the EU's Tax Avoidance Directive (ATAD). This includes the replacement of existing rules to bring them in line with ATAD.
See MoreBulgaria: Council of Ministers approves the proposals of new mandatory documentation rule for transfer pricing
On 15 May 2019, the Council of Ministers approved the proposals of the Ministry of Finance to amend the Rules of Procedure on taxes and social security. The amendments concern the introduction of compulsory transfer pricing documentation and the
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