Italy: Manual for Tackling Tax Evasion and Fraud
The Italian Tax Police updated its practical instructions regarding performance of tax audits by releasing the Circular n. 1/2018 i.e. the operational manual for tackling tax evasion and fraud, which was later on updated on 1st December, 2017 and
See MoreItaly: Publication of Income Tax Return Form
An approval was undergone by the ITA on the individual income tax return form and related instructions for the fiscal year 2017 through the issuance of Protocol No. 10793/2018 on 15th January 2018, and the form is available on ITA’s
See MoreItaly: Setting up new rules and regulations on pharmaceutical companies regarding VAT and Paybacks
New rules has been brought on pharmaceutical companies regarding VAT and Paybacks which has been already undergone since 1st January 2018, mostly instructing for the inclusion of VATs in different forms of Paybacks. According to the new rule any
See MoreHungary: Live VAT Invoice Reporting Commencing from July 2018
The Live VAT invoice reporting will be starting from 1st July 2018 as reassured by Hungary in this week, the current domestic sales invoice fillings will be replaced by the new live reporting, however the domestic purchase invoice reporting
See MoreGreece: Government announces tax penalty relief
The Laws naming Law 4509/2017 and Law 4512/2018 have already been officially gazetted. Government offered relief from penalty after enacting these Laws. Greece has provided penalty relief with the enactment of Laws 4509/2017 and 4512/2018. Law
See MoreDenmark introduces new deadline for transfer pricing documentation
On 7 December 2017 the Danish Parliament passed a new law (No. L 13) launching a deadline for preparing and submitting the transfer pricing documentation. The most important changes are: The new law requires to prepare the transfer pricing
See MoreFrance: Change in Transfer Pricing Documentation Requirements
French Parliament updated their transfer pricing documentation rules. Under the Finance Act for 2018, which was approved by the Parliament on 21 December 2017, French companies must submit the transfer pricing documentation for financial years
See MoreItaly: Parliament Approves 2018 Budget Law
The Italian Parliament approved the Budget Law on 23rd December 2017 and it will come into force on 1st January 2018. The law prolongs the extra-amortization regime for entities investing in new assets between 1st January 2018 and 31st January 2018
See MoreBelgium: Corporate tax reform beginning from 2020
On 29 December 2017, The Belgian corporate tax reform law was published in the official gazette contains measures that will be effective as from tax periods beginning from 1 January 2020. Corporate income tax rate reduction The corporate income tax
See MoreCroatia: Closing date of CbC report submission extends for first year
A notice regarding the submission of Country-by-Country (CbC) reports has been announced on 16 January 2017 by the Tax Administration. The authority announced that CbC reports submission deadline for the 2016 reporting fiscal year was extended to
See MoreSenegal approves tax treaty agreement with Luxembourg
The Senegalese Council of Ministers approved the pending income and capital tax agreement with Luxembourg on 17 January 2018. The treaty was signed on 10 February 2016. Luxembourg ratified the agreement on 23 December 2016. It will enter into force
See MoreUS: Government signs joint statement on exchange of country-by-country tax reports with France
On January 12, the IRS announced on its website that the US and French competent authorities would like to sign a joint statement to spontaneously exchange CbC reports submitted by their respective taxpayers. The Competent Authorities desire to
See MoreSweden publishes CbC reporting threshold rules
The Swedish Tax Agency published a guidance on companies' country-by-country reporting (CbC) obligations with respect to short and extended tax years, and company divestments and restructurings on 15 January 2018. The guidance provides following
See MoreGreece: Tax Authority publishes a Circular POL.1209/2017 on tax evasion
The Independent Public Revenue Authority has issued the Circular POL.1209/2017 on December 20, 2017. With the help of POL 1209/2017, the Authority gives supplementary instructions on the submission of complaints about tax evasion fraud in income
See MoreEU Finance Ministers to review tax haven blacklist
It is reported that the EU Economic and Finance Ministers (ECOFIN) will at their meeting on 23 January 2018 remove some countries from the EU’s blacklist of tax havens following commitments made by the countries to improve their tax policy. It has
See MorePortugal: Requirements for the preparation and exchange of Country-by-Country Reports published
On 21 December 2017, Portuguese Orders number 383-A/ 2017 and 383-B/2017 were published in the Official Gazette. Order number 383-A/2017 approved form 55 containing the CbC report. Form 55 must be submitted electronically on an annual basis and
See MoreSpain amends the CbC reporting rules to align with EU Directive
On 30 December 2017, Royal Decree 1074/2017 amending the corporate tax rules and other provisions was published in the Official Journal. Royal Decree 1074/2017 amends, among other things, the Spanish CbCR rules in order to better align them with EU
See MoreItaly: Approves budget Law for 2018
The Italian Budget Law for 2018 (Law no. 205 of 27 December 2017) published on 29 December 2017 and entered into force on 1 January 2018. Some of its most significant corporate tax measures are summarized below: Dividends: Dividends from
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