Austria: MoF proposes draft legislation regarding tax reform for 2019-2020
On 8 May 2019, the Austrian Ministry of Finance published a draft bill regarding tax reform for 2019-2020. The main measures of the draft bill are following: -A reduction in the corporate tax rate from 25% to 23% in 2022 and to 21% in
See MoreHungary: NTC publishes a notice to remind taxpayers for deadline of TPD
On 8 May 2019, the Hungarian National Tax and Customs Administration issued a notice to remind taxpayers that they must prepare their transfer pricing documentation by 31 May 2019 if they are required to keep transfer pricing records and closed
See MorePortugal legislates the EU ATAD into domestic law
On 3 May 2019, Portugal published Law n. 32/2019 in the Official Journal which introduced amendments to the Portuguese Tax Law in line with the European Union (EU) Anti-Tax Avoidance Directive (ATAD) provisions. The law amends the following
See MoreBelgium extends deadline for filing CIT return
The tax authority of Belgium has declared corporate income tax (CIT) return filing deadlines for the 2019 tax year, with a concession for those with a deadline prior to September 26, 2019. Generally, tax returns are due by the last day of the
See MoreBelgium: New law with withholding tax exemption on dividends
On 6 May 2019, Belgium published in the Official Gazette the Law of 28 April 2019 on various tax provisions along with the amendment of Article 264 of the Income Tax Code, which provides for an exemption from withholding tax on dividends
See MoreItaly releases a decree of urgent economic growth measures
On 30 April 2019, Italy publishes a decree regarding “urgent economic growth measures” (Decreto Crescita) which entered into force on 1 May 2019. Under the decree following tax incentives are introduced; As an extra or bonus depreciation
See MoreGreece revises the law on setting up branches with new incentives
On 1 April 2019, the Greek Parliament passed a new bill (Law 4605/2019 ) which includes amendments to Law 89/1967 on the establishment of branches in Greece by foreign companies, including in relation to allowed business activities and incentives
See MoreLuxembourg: Government publishes budget law for the year of 2019
On 26 April 2019, Luxembourg published the Law of 26 April 2019 in the Official Gazette containing the measures for the 2019 budget. The law lowered the standard corporation tax rate from 18% for the financial year 2018 to 17% for the financial
See MoreLuxembourg deposits its MLI ratification instrument
On 9 April 2019, Luxembourg deposited its instrument of ratification for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). The MLI will enter into force for Luxembourg on the
See MoreFrance publishes interest rate for shareholder loan for FY ends between March and June 2019
On 17 April 2019, France published interest rates for entities whose financial year ended between 31 March 2019 and 29 June 2019, which are used to determine the deductibility of interest payments to shareholders. The portion of interest payments
See MoreGermany suggest new tax incentive for research and development
On 17 April 2019, the Ministry of Finance published a bill with a new tax incentive for research and development. Accordingly, all companies, regardless of their size, are entitled to the incentive of a maximum of € 500,000 per company and year
See MoreItaly plans to reduce tax rates
The Italian Government is considering reducing corporate and individual income tax rate. This would reduce the standard corporate tax rate to 20% from 24%. Individual income tax rate may change from the current five-bracket system with a top rate
See MoreAustria: Government approves the first part of the digital tax package
On 4 April 2019, Austrian Finance Minister and State Secretary are sending the first part of their digital tax package for assessment. The package provides for the introduction of a 5% digital tax on large digital corporations, a liability clause
See MoreCyprus: House of Representatives approves law for ATAD Interest Limitation, CFC, and GAAR Rules
On 5 April 2019, the Cyprus House of Representatives passed a law that addresses certain provisions of the EU anti-tax avoidance directive (ATAD 1) particularly the interest limitation rule, a general anti-avoidance rule (GAAR) and controlled
See MorePoland: Government publishes draft bill introducing simplified APA procedure
On 22 March 2019, Poland’s legislative centre published a draft bill that addresses dispute resolution of double taxation issues and advance pricing agreements (APAs). Under this taxpayers will be benefited from the new procedure on Simplified
See MoreGermany updates Guidance on CbC reporting requirements
The German Ministry of Finance issued an updated version of the Application Decree on the General Tax Code on 5 April 2019. The updated version provides for guidance on the application of section 138a of the General Tax Code (GTC) by the tax
See MoreDenmark approves deadlines for preparing, submitting transfer pricing documentation
Recently, the Danish parliament adopted an important amendment of the Tax Control Act (L 13 Forslag til Skattekontrollov of October 4, 2017) that is in force from January 1, 2019 with regard to transfer pricing documentation. The purpose of the
See MoreCzech Republic releases law Implementing ATAD with others changes
On 27 March 2019, the Czech Republic released the Law of 12 March 2019, which includes the introduction of measures to comply with the EU Anti-Tax Avoidance Directive (ATAD). The law usually enters into force on 1 April 2019. However, the taxation
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