EU: Proposals on taxation of digital activities
On 21 March 2018 the European Commission proposed rules on taxation of digital business activities in the EU. These tax measures propose to adapt the tax laws for the digital economy. The tax rules for digital businesses including social media
See MoreSpain meets most of the elements of the action 14 minimum standard
As per the third batch of peer review reports published by the OECD, Spain meets most of the elements of the Action 14 minimum standard. In the next stage of the peer review process, Spain’s efforts to address any shortcomings identified in its
See MoreNorway meets most of the elements of the action 14 minimum standard
As per the third batch of peer review reports published by the OECD, Norway meets most of the elements of the Action 14 minimum standard. In the next stage of the peer review process, Norway’s efforts to address any shortcomings identified in its
See MoreDenmark meets most of the elements of the action 14 minimum standard
As per the third batch of peer review reports published by the OECD, Denmark meets most of the elements of the Action 14 minimum standard. In the next stage of the peer review process, Denmark’s efforts to address any shortcomings identified in
See MoreSweden: Draft legislation submits to Parliament for the Ratification of the BEPS MLI
On 15 March 2018, Government submitted draft legislation to the Parliament for the Ratification of the BEPS MLI. The MLI will generally apply for a particular Swedish bilateral tax treaty after both Sweden and the other party to the treaty have
See MoreSerbia: Ministry of Finance updates rulebook on arm’s length interest rates for 2018
The Serbian Ministry of Finance has updated the rulebook concerning arm’s length interest rates. The Rulebook was published in the Official Gazette of Serbia No. 18/2018 dated 9 March 2018. The Rulebook contains the prescribed interest rates
See MoreIreland: Guidelines on low value intra-group services
On 15 March 2018, Irish Revenue has published an eBrief No. 037/18 regarding guidelines on transfer pricing for low value intra-group services. The purpose of Tax and Duty Manual Part 35A-01-03 is to provide guidance to taxpayers regarding
See MoreNetherlands-Malawi: Dutch Lower House of Parliament approves tax treaty
The Dutch lower house of parliament approved the pending income tax treaty with Malawi on 15th March 2018, signed on 19th April 2015. The treaty enters into force on the last day of the month following the month in which the ratification instruments
See MoreOECD: Third round of peer reviews on dispute resolution mechanisms
On 12 March 2018 the OECD released the third round of peer reviews relating to improving tax dispute resolution mechanisms to make them more timely, relevant and effective. Action 14 of the action plan on base erosion and profit shifting (BEPS) was
See MoreLuxembourg publishes list of jurisdictions for exchanging CbC reports
On 20 February 2018, the Luxembourg Government published the Grand Ducal Regulation of 23 February 2018 containing the list of countries considered to exchange Country-by-Country (CbC) reports. The list includes 52 jurisdictions in respect of the
See MoreBulgaria: E-filing is mandatory from 2018
The Bulgarian National Revenue Agency has declared that all declarations under the Corporate Income Tax Act (CITA), for which the filing obligation arises after December 31, 2017, are only submitted electronically. This is also applicable for annual
See MoreBelgium: Constitutional Court announces the fairness tax unconstitutional
On 1 March 2018, The Constitutional Court of Belgium announced the fairness tax unconstitutional, thus nullifying it (judgment n° 24/2018). According to the Court’s ruling, however, the fairness tax is maintained until financial year 2017 (tax
See MoreFrance: Publishes new corporate taxation measures
The Ministry of the Economy and Finances published a summary of the main measures introduced by the Finance Law 2018 and the Social Security Finance Law 2018 regarding corporate taxation on 19 February 2018. These measures generally apply from 1
See MoreItaly: Draft transfer pricing regulations and corresponding adjustments
On February 21, 2018 the Italian Ministry of Economy and Finance released its draft transfer pricing rules to comply with the Article 8-10 OECD/G20 Base Erosion and Profit Shifting (BEPS) project. The draft rules are declared in their website for
See MoreItaly: Real-time e-invoices
Mandatory real-time electronic sales invoice reporting has been introduced by the Italian Revenue Agency. The process will be effective from 1 January 2019. The Italian Revenue Agency named it Sistema di Interscambio (SDI) and according to them all
See MoreCyprus: Tax authority publishes ten-year government bond’s yield rates
On 14 February 2018, tax department published ten-year government bond’s yield rates by an announcement for the countries of Cyprus, Czech Republic, Germany, India, Latvia, Poland, Romania, Russia, Ukraine, United Arab Emirates and United Kingdom
See MoreDenmark: Government proposes amendments to corporate taxation rules
On 23 February 2018, the Danish Ministry of Taxation published the bill on corporate taxation. The bill amending the Danish company taxation is as follows: Permanent establishment (PE) The Danish government explicitly states that non-Danish
See MoreNetherlands: Dutch Council of Ministers approves fiscal policy agenda
The Council of Ministers approved the fiscal policy agenda on a package to combat tax avoidance and tax evasion. The most important changes are summarized below: Corporate Income Tax (CIT) rate: According to the Agenda, the current standard Dutch
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