Greece: Maximum amount of aid per investment project offered for 2016
Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical
See MoreFederal government of Belgium reached agreement on tax measures
On 15 October 2016, in a press briefing details of several tax measures were presented regarding an agreement reached by the government. The most important measures include: an increase of the standard rate of withholding tax on dividends,
See MoreItaly- approved draft Budget Law for 2017
The Council of Ministers of Italy approved the draft Budget Law for 2017 on 15 October 2016. According to the approved draft budget Law, the corporate income tax rate will be decreased to 24%. Incentives for start-up companies, tax credits for
See MoreSlovenia: Amendments to the Corporate and individual income tax rates
The parliament adopted a tax reform consisting of amendments to the Personal Income Tax Law, Corporate Income Tax Law and Tax Procedure Law on 27 September 2016. The amendments will enter into force from 1 January 2017. The main changes are as
See MoreMalta: Budget for 2017 at a glance
On 17 October 2016, the Budget for 2017 was presented to the parliament. Details of the tax measures included in the Budget, which are yet to be implemented through legislative amendments and guidelines, are following: Taxation Income tax on
See MoreSlovak Republic: Introduction to country-by-country reporting
The legislative bodies of Slovakia has issued a bill amending Act No. 442/2012 Coll. on international assistance and cooperation in tax administration that introduces the country-by-country (CbC) reporting obligation in Slovakia. The draft
See MoreGreece: Maximum amount of aid for 2016
Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical
See MoreItaly-Measures to reduce administrative penalties
The Italian Tax Authorities (ITA) issued Circular No. 42/E on 12 October 2016, providing clarifications on available measures to reduce administrative penalties, as amended by Law No. 190 of 23 December 2014 and Legislative Decree No. 158 of 24
See MoreAustria: Budget Bill submitted to lower house of parliament
The Budget Bill was submitted to the lower house of the parliament on 12 October 2016. The most important fiscal measures are summarized below: -Tax incentives will be introduced for investments in entities established for the financing of small
See MoreLuxembourg: Draft law presented for 2017 budget
On 12 October 2016, the Luxembourg government presented a draft law for the 2017 budget. The draft law includes some new tax measures applicable from 2017 which are summarized below. Despite the fact that the work on Actions 8-10 of the OECD/G20
See MoreEuropean Commission will begin drafting new EU financial transaction tax text
An Austrian proposal for a compromise text for the proposal to introduce a financial transaction tax by 10 EU Member States has been agreed in principle according to a Reuters report, at a meeting of the Finance Ministers in question on October 11,
See MorePoland: Approves the general anti- avoidance rule into the Polish Tax Law
Polish President approved a draft legislation introducing a general ant avoidance rule (GAAR) into the Polish Tax Law. On June 14, 2016, the clause was published in the official Journal of Laws and came into force as of July 15, 2016. GAAR shall
See MoreBulgaria: Ownership identification requirement by non-residents with PE
Official Gazette has published a Decree No. 306 on 27th September 2016. The Decree forces non-resident companies along with a permanent establishment (PE) in Bulgaria to reveal the shareholder’s names owning a participation of at least 10% in the
See MoreFrance-Finance Bill for 2017
The government of France presented the Finance Bill for 2017 on 28 September 2016. According to article 6 of the Bill the standard corporate income tax rate, currently set at 33.33%, will be reduced progressively to 28%. However, the 28% rate will
See MoreSlovak Republic: Tax law amendments proposed
A governmental package of proposed amendments on tax law has been submitted to the parliament and the changes are suggested to become effective from 1st January 2017. These changes needs to be approved by the parliament and signed by the President
See MoreGreece: Draft Budget 2017 has been submitted to parliament
The draft Budget for 2017 has been submitted to the parliament (Committee of Economic Affairs) on 3rd October 2016. Now, it is available on the official website of the Finance Ministry. The following main things are enclosed with the Budget:
See MoreItaly: Resolution publishes regarding interest on medium or long-term loans
The Italian Tax Authorities issued Resolution No. 84/E on 29 September 2016, providing clarifications on the tax treatment of qualifying interest on medium or long-term loans, following the amendments introduced by Law Decree No. 91 of 24 June
See MoreRomania: Ministry of Finance published a proposal for tax incentives and administrative simplification measures
Romanian Finance Ministry recently published a press release regarding proposals for tax incentives and administrative simplification measures for both individuals and companies. The following matters are included in the proposals; Encourage
See More