HMRC will introduce Penalties For Real Time PAYE Errors from October 2014
HMRC will introduce penalties for late real-time pay-as-you-earn (PAYE) returns from October, 2014. Companies employing 50 or more people will face penalties from October 6, 2014 and the companies with fewer than 50 employees will be subject to the
See MoreGreece: Tax cuts initiative will take place by Greek PM in the months ahead
Details of a "road map" for reducing taxes will be unveiled by Greece's Prime Minister, Antonis Samaras and which will be implemented initial tax cuts in the months ahead. Heating oil tax will be reduced by 30 percent and the solidarity tax on
See MoreSlovak Republic: Proposals on transfer pricing and thin capitalization
A draft amendment to income tax law in Slovakia contains provisions regarding changes to the rules for transfer pricing and thin capitalization. The amendment was accepted on August 2014, and if enacted, the changes usually would have an effective
See MoreCroatia: New tax measurement has been announced by government
The government has declared new tax measure on VAT, personal allowance, Employment earnings and others in order to enhance the economic activity, on 4 September 2014. VAT: According to the declaration, VAT will be applicable on invoice payment
See MorePoland: Hiked the VAT rate
Poland raised the VAT rate from 21% to 23% in 2011, when it goes through the financial crisis - recession, reduction of government revenues from corporate income tax. The Finance Ministry of Poland has declared, the new VAT rate (23%) will set for
See MoreEU-Ukraine Association Agreement Ready To Ratify
The technical preparation of the EU-Ukraine Association Agreement for its subsequent ratification by parliament will be completed in the near future, the Ukrainian Foreign Ministry has said. Both sides will progressively establish a free trade area
See MoreUK: ‘Deemed Consent’ Regime To NICs has been extended by HMRC
A change of policy from HM Revenue and Customs (HMRC) will enable informal representatives of elderly and disadvantaged taxpayers like family and friends to deal with tax issues like National Insurance Contributions on their behalf under the
See MoreFinland: Government Agrees To Tax Hikes For 2015 Budget
After weeks of one-on-one and full-cabinet negotiations, on August 28, 2014, the Finish Government has agreed on the 2015 budget proposal. The proposal is mainly based on decisions made in the General Government Fiscal Plan last spring and in the
See MoreDenmark: New Figures published for personal income tax 2015
The Ministry of Taxation published on its website on 2 September 2014, the figures applied for personal income tax purposes in 2015. Furthermore, it lists the applicable figures for other taxes. Such figures are adjusted annually according to
See MoreEFTA- Colombia: Free trade agreements enters into force
The FTA (free trade agreements) between EFTA (European Free Trade Association) states- Iceland, Liechtenstein, Norway and Switzerland was signed on 25 November 2008. FTA between Colombia and Norway entered into force on 1 September and FTA between
See MoreUK Pension scheme administrators: New requirements to be fit and proper persons
HM Revenue & Customs (HMRC) is committed to combating pension liberation activity. To build on a number of recent changes to existing legislation and processes, HMRC has introduced new legislation relating to the fit and proper status of scheme
See MoreRomania: The Ministry of Finance published new tax provision
The Ministry of Finance published drafts proposal of the Tax Code and the Fiscal Procedures Code, on 30 June 2014. Under draft proposals currently under discussion the penalty for an under declaration of profits would be 10% of the additional amount
See MoreGovernment of Finland approves 2015 budget
After weeks of one-on-one and full-cabinet negotiations, the Government has agreed on the 2015 budget proposal. The proposal is mainly based on decisions made in the General Government Fiscal Plan last spring and in the Government Programme in June.
See MoreDenmark:Announced Budget Proposal for 2015
The Ministry of Finance published its Budget Bill for 2015 on 26 August 2014. The Budget is focused on certifying better benefit, producing more jobs and keeping the economy sound under mechanism. The Budget will generally apply from 1 January
See MoreGermany-Israel details of ICTT publishes
The Income and Capital Tax Agreement (2014) between Germany and Israel has published in detail. The treaty was accomplished in the German, Hebrew and English languages and it follows the OECD Model. The maximum 10% withholding rates are applied on
See MoreLithuania signed FATCA agreement with United States
Lithuania and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on August 26, 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Lithuania will report the information required under FATCA about U.S.
See MoreLithuania: Simplified VAT registration from September 2014
Lithuania has plans to cut the amount of application forms to be filled out for VAT registrations. The new procedure has reduced the application process from three forms to a single application, an FR 0388. In addition, companies may apply for a VAT
See MorePoland-UAE: Income and Capital Tax Treaty modified by Poland
According to Law No. 1109 of 26 June 2014, the Income and Capital Tax Treaty (1993) between Poland and United Arab Emirates has modified by Poland and it was signed on December 11, 2013. According to the declaration of Polish Government confirms its
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