UK, Estonia MFN provision: 0% withholding tax on royalty income
Paragraph 7 of the Exchange of Notes to the 1994 Double Taxation Agreement (DTA) contains a “Most Favoured Nation” (MFN) provision relating to royalties (Article 12). It gives UK residents access to any lower rates agreed by Estonia in
See MoreItaly-the protocol to treaty with Philippines approved
The protocol to the Income Tax Treaty between Italy and Philippines of 1980 was approved by the Italian government on 12 January 2017. The protocol was signed on 9 December 2013. According to the protocol, article 2 of the treaty would be modified
See MoreSaudi Arabia- Initiating Income and Capital tax treaty with Latvia
Following the conclusion of the negotiation process in Riga from 16 to 19 January 2017, the government of Saudi Arabia and Latvia will initiate an income and capital tax
See MorePoland: Corporate tax law changes enters into force
New amendments regarding the corporate income tax and individual income tax acts of Poland have been entered into force on 1st January 2017. In accordance with the new amendments, a 15% reduced corporate income tax rate (previously it was 19%
See MoreAustria: Announces social security rates for 2017
The Social Security act of Austria has been amended and published in the Official Gazette on 18 January 2017. The amendment provides that the total social security rate is set at 14.12% for employees not earning more than EUR 425.70 per
See MoreUK: £60 million tax reform to improve digital revolution
The United Kingdom’s digital revolution is set to benefit from a multi-million pound boost, under plans announced by Communities Secretary Sajid Javid. On 13 January 2017, a new Local Government Finance Bill published that will make it easier
See MoreBelgium ratifies TIEA with Aruba
On 12 January 2017, Belgium ratified the Tax Information Exchange Agreement (TIEA) with Aruba. This Agreement provides for the effective exchange of information regarding tax matters between the tax authorities including automatic exchange of
See MoreUK increases VAT-free threshold to £39
The VAT-free threshold has been increased by the United Kingdom for small packages that imported from outside of the EU as of 1st January 2017. The maximum value of goods is increased from £34 to £39. The EU plans to take away the relief according
See MoreSlovenia publishes CbC reporting guidelines
The Slovenian Financial Administration published a new guidance on the implementation of country-by-country (CbC) reporting on 12 January 2017. The new guidelines included in Action 13 of the OECD Action Plan on Base Erosion and Profit Shifting and
See MoreCzech Republic: Bill on automatic exchange of rulings and pricing arrangements approved
A Bill regarding the automatic exchange of advance cross-border rulings and advance pricing arrangements has been approved by the lower chamber of the parliament of Czech Republic on 11th January 2017. It implements the provisions of Council
See MoreTIEA between Finland and UAE ratified
The Exchange of Information Agreement of 2016 regarding tax matters (TIEA) between Finland and United Arab Emirates (UAE) has been ratified on 15th January 2017 by United Arab Emirates. The treaty has been ratified by the way of Decree No.
See MoreIran ratifies the income tax treaty with Cyprus
The President of Iran signed a law, on 3 January 2017, ratifying the Cyprus - Iran Income Tax Treaty (2015). The treaty was signed on 4 August 2015. The DTT is based on the OECD Model Tax Convention on Income and on Capital of 2010 (the “OECD
See MoreGreece: Deadline extension of voluntary disclosure of undeclared income
An amendment to Law 4446/2016 was adopted on 20th January 2017 by the parliament. The amendment made an extension to the deadline for the tax return filing within the framework of the voluntary disclosure of undeclared income. The new deadline is
See MoreDTA between Italy and Chile entered into force
The Income and Capital Tax Treaty between Italy and Chile of 2015 entered into force on 20 December 2016. The provisions of the treaty are applicable from 1 January
See MoreItaly-Individual Income Tax return form published
The Italian tax authority published the individual income tax return for the 2016 financial year on 16 January 2017. The form can be found along with the instructions on the ITA
See MoreDTA between UK and Turkmenistan enters into force
On 19 December 2016, the double tax agreement (DTA) between Turkmenistan and United Kingdom was entered into force. The treaty was applied from 1 January 2017 and from this date the new treaty was replaced the existing DTA of
See MoreSweden: Administrative Court rules PE exists in Sweden due to regular nature of activities
The Swedish Administrative Court of Appeal in the case of: Gothenburg (Kammarrätten i Göteborg) case number 2276-15, has found a German company to have a permanent establishment (PE) in Sweden due to its annually recurring short-term activities in
See MoreItaly-annual VAT return form published
The Italian tax authority published the new annual VAT return for the 2016 financial year on 16 January 2017. The form can be found along with the instructions on the ITA
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