German Fiscal Stimulus Measures has been called for by the ECB official
German Fiscal Stimulus Measures has been called on the German Government by a top European Central Bank (ECB) official and Germany's Deputy Labor Minister to cut taxes on labor. It was argued by ECB Executive Board Member Benoit Coeure and Deputy
See MoreRomania plans to cut VAT rate extension
The Romanian Government is planning to reduce Romanian VAT to all basic foodstuffs after the success of a trial on key supplies recently. At present VAT rate is 24%% on most foodstuffs. Bread was reduced from the standard Romanian 24% to 9%
See MoreEuropean Union adds VAT on banking and insurance financial services group charges
On 17 September 2014, the European Court of Justice (ECJ) ruled in the Skandia America Corporation vs Swedish tax authorities case that recharges of bought-in costs or provided by financial services group companies to their branches and subsidiaries
See MoreVAT changes from 2015 have been proposed in Luxembourg
Luxembourg VAT compliance changes have been proposed from 2015. The new measures aim to improve the VAT regime in tax free zones and elimination of potential double taxation on goods in VAT suspension released into a free zone. The supply of art and
See MoreSwitzerland- Belgium: ICTT has been approved
The Belgium - Switzerland Income and Capital Tax Treaty (ICTT) of 1978 has been signed on 10 April 2014 and this amending protocol has been approved by the Swiss Federal Council on 19
See MoreLuxembourg-Saudi Arabia DTA entered into force
The Double Taxation Agreement (DTA) between Luxembourg and Saudi Arabia has entered into force on September 1,
See MoreNetherlands: Tax plan focuses on reducing the tax burden on labour
The 2015 Tax Plan focuses on alleviating the tax burden on labour. A sum of €1 billion has been made available for this purpose, which will be used to reduce the lowest rate of income tax and increase the employed person’s tax credit in order to
See MoreNetherlands: 2015 Budget Memorandum
The Netherlands is slowly recovering from the crisis. Exports, corporate investments and consumption are all increasing. Economic growth in 2015 is projected at 1.25%. But the recovery is fragile and at risk from international developments.
See MoreFrance: Tax Authority Released The Final Version Of Abridged Documentation Report
The tax authorities of France released the final version of the tax form No 2257-SD on 16 September 2014 which is also known as the abridged documentation report, requiring some information; Information for MNE: Multinational Entity’s
See MoreCzech Republic-Colombia Income Tax Treaty details
The Income Tax Treaty (ITT) between Colombia and Czech Republic has accepted Colombian Congress and it was signed on March 22, 2012. The treaty was concluded in the Czech, English and Spanish languages and needs to be declared constitutional by the
See MoreSlovenia: Financial administration approved to conclude advance pricing agreements
In Slovenia, the amendments to the Financial Administration Law (the Law) entered into force on 1st August 2014. This Law Based on financial authorities is authorized to conclude advance pricing agreements (APA) for transfer pricing purposes. The
See MoreCyprus agrees to exchange of information on tax with India
Cyprus has accepted a key condition put forward by India on effective exchange of information on tax avoiders, hoping its move, which comes amid continuing talks on amending their mutual tax treaty, will persuade India to “rescind the
See MoreRomania: Government Confirms Social Security Tax Reduction
The Government of Romania has approved a reduction in the social security tax paid by employers, in defiance of the IMF and despite a warning from the country's President that the move will put the country's economic stability at risk. Romania's
See MoreSlovak Republic: Regulation regarding binding rulings has published
The Ministry of Finance published Regulation No. 229/2014 that gives the tax aspects for which binding rulings may be issued and this regulation came into effect from September 1, 2014. On the basis of the regulation, binding rulings can be issued
See MoreSlovak Republic: New guidance regarding transfer pricing documentation has been published
The Ministry of Finance has published new guidance on the contents of transfer pricing documentation (TPD) on August 20, 2014 that requires changes for most taxpayers. This alert summarizes the transfer pricing legislative developments as well as
See MoreCGT Provisions in DTA has been amended by Luxembourg & France
Capital gains tax provisions on real estate have been amended by Luxembourg & France and this is for a fourth time has revised their double tax agreement. The Protocol was signed on September 5, 2014, by Michel Sapin, France's Minister of
See MoreUK: Pension statements and the annual allowance to be sent soon
Pension providers will soon be sending annual allowance pension statements for the 2013 to 2014 tax year to all pension scheme members contributing more than £50,000 per year to a pension scheme. Finance Act 2011 legally requires pension providers
See MoreCzech Republic-Singapore ITT protocol enters into force
The amending protocol to the Czech Republic - Singapore Income Tax Treaty (ITT) has entered into force on September 12, 2014 that was signed June 26, 2013. The provisions of article 10 generally apply from September 12, 2014 and the provisions of
See More