Cyprus-Latvia tax treaty entered into force
The agreement between Cyprus and Latvia for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income has entered into force. The agreement was signed in May 24, 2016. It came into force on October 27, 2016
See MoreCyprus and India signed an income tax treaty
Cyprus has signed an income tax treaty with India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty was signed on 18 November 2016. The new treaty will be replaced by the existing
See MoreGreece: Amendment to TP documentation rules and APAs
A Law naming ‘Law 4410/2016’ has been announced amendments on the Greek Tax Procedure Code, TP Documentation Rules and the legal framework for Advanced Pricing Agreements (APAs). Amendments on TP Documentation The first amendment mentions to the
See MoreNetherlands: First notification country-by-country reporting extended
The Dutch Secretary of Finance published a Decree1 by which the date for Dutch constituent entities to comply with the first notification requirement under the Dutch Country-by-Country (CbC) reporting rules has been extended on 21 November
See MoreProtocol to a treaty between Germany and Netherlands signed
The amending protocol, to the Germany - Netherlands Income Tax Treaty (2012) signed on 11 January 2016, which will enter into force on 31 December 2016. The protocol was concluded in the Dutch and German languages, each text having equal
See MoreFrance-amending Finance Bill for 2016
The Amending Finance Bill for 2016 (projet de loi de finances rectificative pour 2016, PLFR) (the Bill) was presented by the government and submitted to the National Assembly on 18 November 2016. The Ministry of Finance of France announced to
See MoreHungary-Government announces reduction of corporate income tax rate
The Hungarian Ministry of Economy announced on 17 November 2016, a reduction of corporate income tax rates from 2017. The current progressive rate of 10% and 19% will be reduced to a flat rate of 9%. This proposal has been submitted for the approval
See MoreSlovak Republic: Bill on CbC reporting submitted to parliament
Slovak Republic has introduced a Bill regarding Country-by-Country Reporting (CbCR) based on the recommendations of the OECD and it was submitted to the parliament on 4th November 2016. If adopted, the bill will become effective from 1st March
See MoreSlovenia: Publishes new R&D tax incentives guidance
The Financial Administration recently published guidance on the application of research and development (R&D) tax incentives. The guidance specifies the following: In order to qualify for the R&D tax incentives, the activity must meet
See MoreFinland: Government submitted a bill to parliament for ratification of Finland- Sri Lanka DTA (2016)
The Finnish government submitted a bill to parliament on 10 November 2016 for ratification of the Finland- Sri Lanka Income Tax Treaty (2016), signed on 6 October 2016 in Colombo. The new treaty will be replaced by the existing Income and Capital
See MorePoland: Publishes amended bill on CIT exemption for investment funds
The first reading of the draft Bill on the amendment of the Corporate Income Tax Act, which was submitted to the Parliament on 31 October 2016, took place in the Parliament on 4 November 2016. According to the bill, withdrew the full exemption
See MoreFinland and Portugal signed an income tax treaty
Finland has signed an income tax treaty with Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty was signed on 7 November 2016 in Brussels. The new treaty will be replaced by
See MoreFrance-New threshold for eligibility of abridged transfer pricing documentation
In France, a new law had been enacted on 8 November 2016 which provides for a reduced threshold for taxpayers to be eligible for filing the “abridged” transfer pricing documentation (Form 2257). The threshold as codified at Article 223 quinquies
See MoreHMRC Updated guidance on advance pricing agreements
On 8 November 2016, HM Revenue & Customs (HMRC) updated Statement of Practice 2 (2010) which sets out the process for obtaining advance pricing agreements (APAs). The updated statement of practice: Updates previous guidance on the
See MoreBulgaria: Proposal to keep health insurance contribution rate at 8% for 2017
The Bulgarian Council of Ministers has submitted a proposal to the National Assembly on 31st October 2016 concerning the Act on the budget of the National Health Insurance Fund for 2017. In accordance with the proposal, the compulsory health
See MoreGermany: Releases draft bill to combat tax avoidance
The German Ministry of Finance released a draft bill on 28 October 2016 about further measures taken to combat tax avoidance. The main important details are summarised below: -The bill provides for the introduction of an EU beneficial ownership
See MoreNetherlands: Additional amendments presents to the parliament for Tax Plan 2017
The State Secretary for Finance submitted additional amendments to the Tax Plan 2017 No. 34 522 to the lower house of the parliament on 3 November 2016. The major amendments are summarized below: Business operating cost Business expenses acquired
See MoreFinland: Government published a proposal on Country-by-country reporting
The Finnish government published a proposal to implement the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) initiative on transfer pricing documentation as well as a corresponding EU directive
See More