Germany: Issues new procedure for non-residents regarding reimbursement of the withholding tax
Recently, the tax administration published an updated guidance on the tax refund procedure for non-residents to claim a 15% refund of withholding tax on portfolio dividends. According to the new procedure, as from 1 January 2017, the income from
See MoreCzech Republic: Proposed requirements for preparing CbC report
On 2nd of August 2016, the Finance Ministry published a public consultation on a bill. This would implement the country-by-country (CbC) reporting requirements in EU Directive 2016/881 on exchange of CbC reports among EU member states. In
See MorePoland: President signs new legislation on CbC reporting requirement
The new legislation regarding the exchange of tax information with other countries was signed by the President on 20 March 2017. The Law provides information on obligations of financial institutions and the automatic exchange of country-by-country
See MoreCyprus: Tax department announced the decree for the automatic exchange of CbC reports
With reference to decree issued by the Ministry of Finance on 30 December 2016, the tax department of Cyprus has recently published an announcement regarding that decree for the automatic exchange of country by country reports. The deadline for
See MoreUkraine: President sign the law to ratify income tax treaty with Luxembourg
The Ukrainian President signed a law to ratify the income tax treaty with Luxembourg on 3 April 2017. The Convention between two states was signed as long ago as on 6 September 1997, but has not been ratified until now. On 30 September 2016, parties
See MoreRomania approves DTA with China
On 10 April 2017, the Senate of Romania approved the Double Taxation Agreement (DTA) with China for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreUK: New type of limited partnership
On 6 April 2017, new legislation came into force that introduces a new type of limited partnership. The Order introduces private fund limited partnerships (PFLPs) and amends the 1907 Act, which applies to PFLPs and partners in PFLPs. New and
See MoreCyprus: Council of Ministers approves Multilateral Instrument signing to OECD
According to a press release issued by the Finance Ministry, the signing of the “Multilateral Instrument” has been approved by the Council of Ministers on April 5, 2017. Therefore, Cyprus is going to sign the ‘Multilateral Convention to
See MoreGermany: Draft amendments to transfer pricing documentation ordinance
The Ministry of Finance on 23 February 2017 published draft amendments to the transfer pricing documentation ordinance. These show the changes introduced by the bill on the implementation of amendments to the EU Mutual Assistance Directive and other
See MoreSweden: Government proposes amendments to the taxation of real estate
The Swedish government has Proposes some tax changes on 30 March 2017, regarding taxation of real estate. The proposal will now be referred to stakeholders for consultation before a final version is handed to Parliament for voting. The new rules are
See MoreHong Kong: Government signed AEOI agreement with Portugal and South Africa
The government of Hong Kong has signed agreements with Portugal and South Africa for conducting automatic exchange of financial account information in tax matters (AEOI). A Government spokesman said on 03 April 2017 that they have been seeking to
See MoreUK: Amendments to CbC reporting 2017
The United Kingdom was one of the first countries to formally commit to introducing CbC reporting and the detailed implementation was given effect through the 2016 Regulations. Since the UK introduced these regulations in February 2016, the
See MoreUK: VAT registration thresholds
The thresholds for registering for VAT or joining a VAT accounting scheme from 1 April 2017. VAT thresholds Circumstance Threshold VAT registration More than £85,000 Registration for distance selling into the UK More than
See MorePoland: Important tax changes for 2017
A number of major tax changes have been introduced as of 1 January 2017. The changes are given below: Personal income tax: Personal income tax has a major change on the tax-free amount that is based on the tax base. In accordance with the new
See MoreBulgaria: Proposed bill about CbC reporting requirements published
The Finance Ministry has published a revised draft bill on 21st March 2017 that amends the Tax and Social Security Procedure Code (TSSPC) with regard to the new country-by-country (CbC) reporting requirements. It is proposed that the amendments will
See MoreNetherlands releases explanation on dividend withholding tax exemption for exempt companies
The Dutch Tax and Customs Administration has issued an explanation on 30 March 2017 regarding dividend withholding tax exemption for exempt companies. According to the explanation domestic and foreign entities which are exempt from corporate income
See MoreDealmaking in Central & Eastern European Real Estate
Investing, Developing, and Leasing in Central & Eastern Europe A two-hour webinar, May 9, 2017, from 11am -1pm NYC time Sponsored by Emerging and Frontier Markets Association This webinar will not only cover investing in
See MoreBelgium, Moldova amending protocol to DTA signs
On 30 March 2017, Belgium and Moldova signed an amending protocol to Double Taxation Agreement (DTA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in Brussels. Once in force, the 2008
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