Hungary-New bill amending Corporate Income Tax Law passed by the Parliament
The Hungarian parliament passed a bill modifying the Corporate Income Tax Law on 23 November 2016. According to the law the early stage business will be defined as start-up company if the company has been registered as an early-stage business in
See MoreGreece: Draft Bill to amend Income Tax Code submitted to parliament
The amendments of the draft law implementing Directive 2014/17/EU on credit agreements for consumers regarding residential immovable property and amending Directives 2008/48/EC has been submitted to the parliament on 23rd November 2016. The
See MoreBulgaria: New rules on electronic filing and filing of corrective returns
The parliament voted on the adoption of amendments to the corporate and personal income tax reporting rules on 23rd November 2016, which was proposed on 16th September 2016. Some changes have gone through during the parliamentary discussion before
See MoreGreece: Final draft Budget 2017 submitted to parliament
The final draft budget for 2017 has been submitted to the parliament by the Deputy Finance Minister on 21st November 2016. It is available in Greek language. It is estimated to be passed on 10th December 2016. The proposal of draft Budget for 2017
See MoreCyprus-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
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