Switzerland- EU: Signed an agreement on tax reform
Switzerland and EU have signed an agreement on 14 October 2014 in order to eliminate disputed corporation tax regimes. According to the agreements the Swiss Federal Council will eliminate five corporate tax regimes and these areas- the cantonal
See MoreBelgium: Confirmation to increase VAT registration threshold from 2015
The tax authorities of Belgium confirm its plan to increase VAT registration threshold from 2015. The companies having taxable supplies above €25,000 will need to be registered for VAT from 2015. Previous limit on the 6% VAT rate for renovation
See MoreIreland: Changes of tax rules in Budget 2015
The Ireland’s Ministry of Finance announced tax rules changes on 14 October 2014 with the plan to attract foreign investment through creating a competitive environment. The summary of the changes are as follows: Elimination of maximum
See MoreIreland: 2015 budget amendments and revocation of “double Irish” structure
Ireland presents 2015 budget on October 14, 2014 with some proposals concerning amendments of provisions for business and corporate taxpayers. The summary of the amendments are as follows: No change of 12.5% corporate tax rate; The residency
See MoreECOFIN: Extension of an automatic exchange of tax information agreement by the EU Council
A reviewed “administrative cooperation directive” agreement have been agreed by the EU Council of Economic and Finance (ECOFIN) Ministers on October 14, 2014. This reviewed agreement on the revised directive is aimed on promoting the automatic
See MoreCroatia – Luxembourg: DTA approved by Croatia
Croatia approved the Income and Capital Tax Treaty between Croatia and Luxembourg of 2014 on 25 September 2014 and the treaty will be delivered to the parliament for final
See MoreUK: Amended corporation tax regulations enters into force
According to the corporation tax regulations SI 2014/2409, from 1 April 2015 all companies will be subject to the 15% rate. The small profits rate and the marginal relief will no longer be applicable, except for companies with ring-fenced profits
See MoreDenmark: Ministry of Taxation publishes its law programme for 2014-2015
The Ministry of Taxation published its law programme for 2014 and 2015 on 7 October 2014 and the main measures of the law programme are summarized below: Corporate taxation: Amending the tonnage tax regime by including more ship types within its
See MoreThe protocol to treaty between Denmark and India has been approved
Recently, Denmark approved the amending protocol, signed on 10 October 2013, to the Denmark - India Income and Capital Tax Treaty
See MoreAustria: Published draft version of 2nd Tax Law Amendment Act 2014
The Ministry of Finance published a draft version of the 2nd Tax Law Amendment Act 2014 on 1 October 2014, and submitted it for professional review. The 2nd Tax Law Amendment Act 2014 is the introduction of the Law on Mutual Assistance in Fiscal
See MoreBelgium: New Coalition government agreed on proposed tax changes
A proposed tax changes has been agreed by the members of Belgium’s new coalition government. They have come to a consensus on changes of corporate tax, VAT and excise tax, Individual Income tax and other taxes. It was proposed that an additional
See MoreCyprus: Finance Minister Declares State Budget Report 2015
In a comprehensive report, the Finance Ministry predicts that the economy’s prospects are expected to continue to gradually improve though substantial risks still exist, mostly related to the banking sector whose prospects are crucial to
See MoreUS signed Intergovernmental Agreement (IGA) with Poland
The US Treasury Department has posted the official text of the intergovernmental agreement (IGA) that the United States signed with Poland on 7 October 2014 for implementation of the Foreign Account Tax Compliance Act (FATCA). Both the Government
See MoreAgreement between France and China approved by French Council of Ministers
The French Council of Minister approved the Agreement between the Government of the French Republic and the Government of the People's Republic of China for the Avoidance of Double Taxation and prevention of avoidance and evasion with respect to
See MoreUS-EU Trade Deal Negotiators Agrees On The Same Page
EU and US officials ended a 7th round of week-long negotiations in Washington, D.C. (US) on the Transatlantic Trade and Investment Partnership (TTIP), a new EU-US trade and investment deal. It was confirmed that talks have progressed beyond its
See MoreTax reduction in Greece’s 2015 Budget
Greece releases its 2015 budget on October 6, 2014. The budget reduces the solidarity tax on earners and a 30 percent cut on the tax on heating oil. The budget cut the "solidarity tax" paid by those on incomes over EUR12,000 (USD15,178) and would
See MoreThe HM Revenue And Customs (HMRC) Considers Draft Regulations For The Purposes Of The Promoters Of Tax Avoidance Legislation
The HMRC is working on draft regulations to exclude two types of persons from the definition of "promoter" for the purposes of the Promoters of Tax Avoidance legislation. The regulations will exclude from the definition of "promoter" a company that
See MoreFinland: Bank account number required for tax refunds
Finish tax authorities have urged the taxpayers to inform their bank account so that they can receive tax refunds directly to their bank account, especially those who have a new or changed bank account. If the taxpayer already has bank account
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