UK signs MLI to prevent tax avoidance
On 7 June 2017, United Kingdom has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”) in Paris. Total 68 countries, including
See MoreIreland signs MLI to prevent tax avoidance
On 7 June 2017, Finance Minister Mr. Michael Noonan T.D. has signed the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”) on behalf of
See MoreSpain: Lower House approves 2017 Budget
Spain's lower house on 1 June 2017 approved the delayed 2017 national budget. The budget was presented on April 4th 2017. There is no significant change on direct taxation. A 10% reduced rate of VAT is expected to apply to specific product supplies
See MoreSpain and Cape Verde sign double taxation agreement
Spain and Cape Verde signed a double tax agreement on 05 June 2017. The agreement provides for tax treatment appropriate to the circumstances of taxpayers carrying out activities at the international level, providing a framework of legal and fiscal
See MoreCyprus: FATCA data submission begins for 2017
The Cyprus Tax Department has notified financial institutions and their representatives that the data submission under the FATCA Intergovernmental Agreement for the year 2016 has started. This process will be performed through the Government Gateway
See MoreCyprus signs Protocol to amend the double tax agreement with San Marino
A Protocol amending the Convention for the Avoidance of Double Taxation with respect to Taxes on Income was signed on May 19th 2017 in Nicosia. On behalf of the Republic of Cyprus Mr. Ioannis Kasoulidis, Minister of Foreign Affairs of the Republic
See MoreGermany implements legislation that restricts the tax deductibility of related-party royalty payments
The Federal Parliament and the Federal Council on 12 May 2017 and 2 June 2017 have agreed on the implementation of legislation which restricts the tax deductibility of the contributory payments under certain conditions. This royalty limitation rule
See MoreIreland: DTA negotiation with Kosovo
The first round of negotiation of Double Taxation Agreement (DTA) between Ireland and Kosovo are underway for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreAndorra approves DTA with Malta
On 25 May 2017, the general council of Andorra approved the Double Taxation Agreement (DTA) with Malta for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreGreece: Reform Law 4472/2017 published
The Government published Law 4472 on 19th of May 2017 in the Official Gazette. It includes several reform measures concerning the medium-term fiscal targets for 2018-2021 and tax cuts for legal entities. Therefore, the corporate income tax (CIT)
See MoreGermany: Government approves signing of MLI to implement tax treaty related BEPS measures
The German Federal Parliament on 21 December 2016, approved the signing of the Multilateral Instrument (MLI) to implement into bilateral tax treaties the tax treaty-related measures arising from the OECD / G20 BEPS Project to tackle base erosion and
See MorePoland publishes draft amendment to R&D tax relief
The Ministry of Science and Higher Education has published an amended draft bill regarding the R&D tax relief. The bill proposes an increase of current income tax deduction from 50% and 30% to 100% depends on the category of eligible costs and
See MoreFrance: CJEU rules on 3% contribution on distributed profits
In France, companies subject to Corporate Income Tax (CIT) are required to pay an additional CIT contribution of 3% on the distributed profits according to article 235 ter ZCA of the French general tax law. But, the Court of Justice of the European
See MoreNetherlands: Amendments to dividend withholding tax rule
On May 16, 2017, the Dutch government released a public consultation for the previously announced legislative proposals regarding changes to the DWT (dividend withholding tax) rules for holding cooperatives. The Dutch government expected to have the
See MoreHungary: Advertisement tax rate increased
The Hungarian Parliament has approved an increase in the advertisement tax rate from 5.3 percent to 7.5 percent while overcoming the European Commission's illegal state aid objections and still shielding smaller media companies from the
See MoreHungary: CbC reporting requirements adopted
Hungary released a draft law on country-by-country (CbC) reporting on 10 March 2017 which became effective 15 May 2017. As a result, Hungary fulfilled the harmonisation requirement set by Council Directive (EU) 2016/88) and implemented the
See MoreSlovenia: Proposal for more specific requirements for CbC reporting
The Slovenian Ministry of Finance on 19 April 2017 issued a proposal to amend the rules for the application of the Tax Procedures Act. The proposal provides more specific requirements for CbC reporting. In addition the proposal would introduce CbC
See MoreUAE: DTA with Slovakia applies from January 1, 2018
The Double Tax Agreement (DTA) between United Arab Emirates and Slovak Republic was signed in 2015 and was come into force on 1st of April 2017. This treaty will be applicable from 1st of January
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