ECJ rules in case concerning VAT on letting of immovable property
The European Court of Justice (ECJ) ruled on 22 January 2015 in the case of Regie Communal Autonome du Stade Luc Varenne v Etat Belge. A preliminary question had been put to the ECJ concerning VAT on leasing of immovable property. This case
See MoreThe Tax Information Exchange Agreement (TIEA) between Italy and Jersey Enters into Force
The Tax Information Exchange Agreement (TIEA) between Italy and Jersey has entered into force on January 26, 2015. Tax Information Exchange Agreements (TIEAs) provide for the exchange of information on request relating to a specific criminal or
See MoreDTA between Belgium and the Czech Republic enters into force
The protocol amending the DTA between Belgium and Czech Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income entered into force on January 13, 2015 and will be effective from first
See MoreLatvia: Budget committee approves 9% Microenterprise tax rate
The Parliament Budget and Finance (Taxation) Committee approved in principle a draft bill which sets the micro-enterprise tax rate at 9% in the first three years since the company's registration. As reported, in 2015, the tax rate for
See MoreSpain: Modifies the transfer pricing legislation
In the “Corporate Income Tax Reform 2015” enacted under the Law 27/2014 the following transfer pricing rules are amended; Scope of related-party transactions - The ownership requirement for related parties is increased from 5% (1% in the
See MoreECJ: Advocate General’s opinion on X AB Case
The Advocate General of the European Court of Justice (ECJ) issued an opinion on 22 January 2015 in the case of X AB v Skatteverket. In this case the Supreme Administrative Court of Sweden had asked the ECJ for a preliminary ruling on whether
See MoreFinland: Tax Administration Publishes Guidance On Advance Tax Withheld On Dividend
Finish Tax Administration published guidance, on 26 January 2015, on advance tax withheld on dividends paid to resident natural persons and estates of deceased persons. The guidance named “Guidance No. A14/200/2015 of 22 January 2015” specifies
See MoreRomania: Government Plans To Cut VAT Rate In 2016
The Romanian Government is planning to cut the value-added tax rate by 3% from 2016. The announcement marks a part reversal of the VAT hike introduced in 2010, to 24 percent from 19 percent. Romania’s Prime Minister Victor Ponta said that either
See MorePoland: Taxation of undeclared income approves by parliament
The lower chamber of the parliament has approved a draft law (draft No. 3032) on 16 January 2015 and after publishing the law in the official Gazette it will enter into force on 1 January 2016. According to the law penalty rate will be reduced 55%
See MoreFrance and Austria Seek To Launch FTT In 2016
France and Austria sought to break deadlocked talks with nine other European countries for a financial transaction tax, by proposing a broader financial transaction tax with a lower rate, in an attempt to push forward delayed plans for a European
See MoreSpain: Government Announces New Country-by-Country Reporting Obligations for MNEs
The Spanish government on 20 January 2015 announced that it will issue regulations, expected to be adopted in the first half of 2015, that will require country-by-country reporting by multinationals. The new regulations would enter into force on 1
See MoreSlovak Republic-Guernsey TIEA enters into force
The Tax Information Exchange Agreement (TIEA) between Guernsey and Slovakia has signed and will come into force on 26th January
See MoreFrance: National Assembly Approves The Treaty With Andorra
The French National Assembly approved the income tax treaty with Andorra on 20 January 2015. Further details of the treaty will be reported
See MoreThe United Kingdom and Croatia sign a Double Taxation Agreement (DTA) on January 15, 2015
The United Kingdom and Croatia have signed a Double Taxation Agreement (DTA) on January 15, 2015. The aim of this agreement is to avoidance of double taxation and prevention of fiscal
See MoreFrance: Increases Transfer Pricing Documentation Penalties
France’s 2015 Finance Bill, enacted on December 29, 2014, increased the penalties applicable in cases of failure to comply with the French transfer pricing documentation rules. The newly defined penalty for a failure to produce transfer pricing
See MoreItaly and Switzerland Agree an Amendment to Their Existing Double Tax Agreement (DTA)
Italy and Switzerland have agreed an amendment to their existing Double Tax Agreement (DTA) to enhance tax information exchange
See MoreCzech Republic-US: FAQs on application of FATCA agreement published
The General Tax Directorate of Czech Republic has released frequently asked questions (FAQs) about the implementation and application of the US Foreign Account Tax Compliance Act (FATCA) agreement between the Czech Republic and the United States on
See MoreCzech Republic: Information on mandatory electronic submissions for VAT purposes
The General Tax Directorate of Czech Republic has released information regarding compulsory electronic submissions in VAT proceedings on its website. As effect from 1st January 2014, VAT returns and other documents must be submitted electronically.
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