Ireland: Entity registration form
The Irish Revenue Commissioners released a “reporting entity” registration form which is required to be filed by entities that do not already have an Irish Tax Reference Number or a Revenue Customer Number (RCN), and that have reporting
See MoreDraft bill of program law adopted by Belgian parliament
In December 2016, a draft bill of program law was submitted to the Belgian parliament and it contains the tax measures, including an increase of the standard withholding tax rate on dividends, interest and royalties from 27% to 30%. The measures
See MoreDTA between Austria and Iceland approved
The Austrian National Council approved the Austria - Iceland Income and Capital Tax Treaty (2016) on 15 December 2016 for the avoidance of double taxation. The treaty generally follows the OECD Model. According to the new treaty the maximum rates of
See MoreAustria: Publishes standardized transfer pricing documentation
The regulation on the implementation of standardised transfer pricing documentation was gazetted on 21 December 2016. The documentation requirements are in accordance with the recommendations of the Final Report on Action 13 of the OECD BEPS
See MoreUK: Double Taxation Treaties (Developing Countries) Bill 2016-17
On 20 January 2017, The Double Taxation Treaties (Developing Countries) Bill 2016-17 is expected to resume its second reading debate. The Bill places a duty on the Chancellor of the Exchequer to align the results of double tax treaties with
See MoreGreece: Draft bill on electronic payments adopted
The draft bill regarding electric payments has been adopted by the parliament on 21st December 2016 and it was presented to the parliament for approval on 12th December 2016. On the basis of the adopted text, companies that receive transactions by
See MoreBelgium: Various tax bill adopted by parliament
On 15 December 2016, the Bill on various tax and other measures, including the furthering of crowd funding, was adopted by the parliament and published in the Official Gazette of 21 December
See MoreAndorra deposits instrument of ratification for amending protocol to savings agreement with EU
On 20 December 2016, Andorra deposited its instrument of ratification for the amending protocol to the EU Savings Directive Agreement that was signed on 12 February 2016, concluding the legal requirements for its entry into force. The amending
See MoreGermany: Approves draft bill on combat of tax avoidance
The Federal Cabinet on 21 December 2016 approved the draft bill on the combat of tax
See MoreUK: Finance Act 2016, Section 162(1) and Schedule 20 Regulations 2016
On 19 December 2016, the Finance Act 2016, Section 162(1) and Schedule 20 (Appointed Day) Regulations 2016 were made. The Regulations appoint 1st January 2017 as the day on which section 162(1) of and Schedule 20 to the Finance Act 2016 (c. 24)
See MoreSingapore-signed competent authority agreement on automatic exchange of information with Ireland
The government of Singapore signed the Competent Authority Agreement on Automatic Exchange of Information (2016) with Ireland on 20 December 2016. The Agreement stipulates details about what information would be exchanged and when according to OECD
See MoreUK: Spring Budget 2017 date confirmed
Philip Hammond, the Chancellor of the Exchequer, has announced that the government will publish its next Spring Budget on Wednesday 8 March 2017. The Spring Budget sets out the government’s plans for the economy based on the latest forecasts from
See MoreGuernsey, United Kingdom amending protocol enters into force
On 6 December 2016, the amending protocol and exchange of letters of income tax treaty between Guernsey and United Kingdom entered into force that was signed on 9 March 2016 by Guernsey and on 29 February 2016 by the United
See MoreGreece: Amendments to Income Tax Code, VAT Code and tonnage taxation
Three amendments to the law that amends the Income Tax Code, VAT Code and tonnage tax regime have been submitted to the parliament on 19th December 2016. The amendments are given below: The first installment of the tonnage tax and the Marine
See MoreBelgium: New changes in anti-hybrid and anti-abuse rule
According to official gazette published on 8 December 2016, in Belgium, legislation implementing changes to the “Parent-Subsidiary directive” and introducing a spread or installment payment regime relating to the exit tax liability. The law
See MoreNetherlands: Proposes withholding tax on profit distributions
The Deputy Minister of Finance presented a bill to the Parliament regarding to a proposal for changes to the tax treatment of certain profit distributions on 16 December 2016. According to the bill, it would modify the dividend withholding rules and
See MoreItaly-Ministerial Decree published on statutory interest rate
The Ministry of Economy and Finance of Italy issued Ministerial Decree on 7 December 2016 which was published in the Official Gazette No. 291 of 14 December 2016. According to article 1 of the Ministerial Decree the statutory interest rate will be
See MoreUK: Draft Budget of Scotland 2017-18
On 15 December 2016, The Scottish Draft Budget 2017-18 was presented to Holyrood by Derek Mackay, the Scottish Finance Secretary, setting out Scotland’s tax and spending plans for the upcoming year. The Scottish Government is committed to
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