Italy:Parliament Approves a Law to Ratify a Pending Double Taxation Agreement (DTA) Protocol with Mexico
The lower of Parliament of Italy has approved a law on December 18, 2014 to ratify a pending Double Taxation Agreement (DTA) Protocol with
See MoreItaly: Introduces New Reduced Tax Regime for Self-Employed Individuals
Italy has introduced new reduced tax regime for Italian self-employed individuals and which will be effective from January 1, 2015. The self-employed individuals including entrepreneurs and sole traders will be entitled to new 15 percent fixed tax
See MoreCzech Republic-US FATCA agreement enters into force
The Foreign Account Tax Compliance Act (FATCA) Model 1A agreement (2014) between Czech Republic and United States has entered into force on 18th December 2014. Further detail of this treaty will be reported
See MoreTaiwan: Income tax treaty with Austria enters into force
The Double Tax Agreement (DTA) between Taiwan and Austria entered into force on 20 December 2014. Most of the treaty articles are applied from 1 January 2015. The agreement was signed on 12 July 2014. Under the provisions of the treaty the
See MoreCyprus: Double Tax Agreements With Spain And Norway Come Into Effect
Cyprus's double tax treaties with Spain and Norway come into effect as of January 1, 2015. All of the new treaties concluded by Cyprus are generally based on the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention
See MoreBulgaria: Budget for the year 2015 adopts
The Bulgarian parliament has adopted the Budget Bill on 19th December 2014 for the year 2015 and this Bill applies as from 1st January 2015. It gives a tax increment on bank deposits from 8% to 10%. Additionally, the Bill continues the same social
See MoreFinland: Publishes Its Decision Regarding Obligation To Disclose Tax Information
The Finish tax administration published its decision regarding the formal obligation to disclose information to the tax administration, on December 31, 2014. There are multiple items of income and wealth for which information has to be disclosed to
See MoreUK: Stamp Duty Reforms on Residential Property
UK has cut stamp duty for the majority of homebuyers to make it fairer. The new rules have started on 4 December 2014. This change applies to people those who are buying a home in the UK for over £125,000. Under the old rules, it would have been
See MoreFrance: Parliament approves the Finance Bill for 2015
The French Parliament approved the Finance Bill for 2015 and the Second Amended Finance Bill for 2014 On 18 December 2014. The Finance Bill for 2015 provides that for tax audits initiated from 1 January 2015 penalties for inadequate documentation
See MoreNorway & Bulgaria: DTA ratified by Norway
Norway has ratified the Bulgaria - Norway Income Tax Treaty of 2014 on 4 December 2014. The new treaty will replace the Bulgaria - Norway Income and Capital Tax Treaty (1988) as soon as it enters into force and is effective in both
See MoreItaly: approves fiscal budget for 2015
Italy has approved 2015 fiscal budget with deficit. The budget bill was passed by both houses of parliament when the Chamber of Deputies approved the budget on December 22. Budget implication on Tax & VAT: The Budget includes a cut in the
See MoreBulgaria: Key changes to the tax and social security legislation for 2015
The amendments to the VAT law was released in the State Gazette on 19th December 2014. The National Revenue Agency (NRA) introduced a new electronic services. This is a new opportunity declaring for both corporate and personal taxpayers. It allows
See MoreItaly & Mexico: Amended protocol to DTA approved by Italian Parliament
The Italian Parliament has approved the amended protocol to the Italy - Mexico Income Tax Treaty of 1991 on 18 December 2014 and it was signed on 23 June 2011. Further details will reported
See MoreDTA between Estonia & Luxembourg approved by Estonia
Estonia approved the Income and Capital Tax Treaty with Luxembourg on 8 December 2014. Once in force and effective, the new treaty will replace the tax treaty between Estonia and Luxembourg signed in 2006. Estonia and Luxembourg signed this new
See MoreDenmark & Ghana DTA ratified by Denmark
The Danish government ratified the Denmark-Ghana Double Tax Treaty (DTA) on 19 December 2014, which was signed on March 24, 2014. Further details of the treaty will be reported
See MoreSpain: Modified legislation on transfer pricing published
On 28 November 2014, Laws 26/2014 and 27/2014, which modify the most important Spanish tax laws were published in the Spanish Official Gazette. This new legislation will generally come into force on 1 January 2015. This new legislation modified in
See MoreCanada & UK: Protocol to DTA entered into force
The amending protocol of the Income Tax Treaty (1978) between Canada and United Kingdom has entered into force on 18th December 2014 that was signed on 21st July 2014. The protocol usually applies from the following dates: Canada 1st January
See MoreGreece: Released templates and guidelines for APA Negotiations
The Greek Ministry of Finance has recently released template application forms for preliminary consultations and formal negotiations, as well as additional guidelines on the overall APA procedure and changes on corporate income tax. On 6 September
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