Romania and Jersey signed TIEA
A tax information exchange agreement (TIEA) has signed between Romania and Jersey at the Romanian Embassy in London on December 1, 2014. The signing of the agreement will strengthen the relationship between Jersey and Romania. Both are members of
See MoreDTA between Czech Republic and Senegal negotiated
The scheduled of the first round negotiations for a tax treaty between Czech Republic and Senegal is set to take place from 9th December to 12th December 2014 in Prague. Further details of this treaty will be reported
See MoreMalta cut down VAT registration threshold to nil in 2015 Budget
The recent budget of Malta for the year 2015 has cut down the value added tax (VAT) registration threshold from EUR 14,000 to nil. The value added tax (VAT) registration threshold is the amount above which an entrepreneur has to register with the
See MoreTax rate down in Malta’s 2015 Budget
Recent budget of Malta for next year contains a reduction of personal income tax (PIT) brackets, through a rate down on income between €19,500 and €60,000 from 29% to 25%. Those who purchasing their first property they can get tax concession and
See MoreMalta: Budget 2015 Supports Female Workforce
Finance Minister Prof. Edward Scicluna underlined that the Budget 2015 embodies the Government’s determination to facilitate access to work for women, adding that this will be done through measures that will encourage women to join the workforce
See MorePortugal suspends VAT rise proposal from 2015
Portugal has suspended a proposal to raise its value added tax (VAT) rate from 23 percent to 23.25 percent on 1 January 2015. In May 2014, the government of Portugal was announced to increase VAT rate from 23 percent to 23.25 percent from January
See MoreHungary, Bahrain, Saudi Arabia and Jersey: Approval of TIEA
On 25th October 2014, the Hungarian parliament approved the pending income tax treaties with Bahrain and Saudi Arabia and a tax information exchange agreement with Jersey. On 24th February 2014, the tax treaty between Hungary and Bahrain was signed
See MoreSlovenia and UAE: DTA and accompanying protocol entered into force
On 27 August 2014 the Slovenia and United Arab Emirates treaty and accompanying protocol entered into force. The treaty and protocol was signed in Washington on October 12, 2013. As per the treaty, dividends, interest, and royalties will be taxable
See MoreLuxembourg and UAE: protocol to DTA signed
On 26th October 2014, Luxembourg and the United Arab Emirates signed a protocol to the 2005 Luxembourg and U.A.E. income tax treaty in Abu Dhabi. The protocol will broaden the possibility of the treaty and updates to bring it up to the OECD
See MoreDTA between China and France completed ratification stages
On November 26, 2014, the final stages of the ratification of the new double tax treaty between France China were completed. The treaty will become effective on January 1, 2015. This agreement replaces the income tax treaty signed in 1984 and
See MoreMalta: Budget for 2015
On November 17, 2014, the Minister for Finance, Edward Scicluna presents the Budget for 2015. It constitutes the first annual budget within the context of the independently endorsed National Medium-Term Fiscal Plan presented last April, and the
See MorePortugal: Approves State Budget for 2015
Portuguese parliament approved the country's state budget for 2015 on November 25, 2014 which signals continuing austerity measures. Within key measures in the 2015 budget is the continuation of a 3.5 % income tax surcharge, twinned with a fiscal
See MoreSweden: Ratifies TIEA with Hong Kong
Sweden has ratified its TIEA with Hong Kong on November 19, 2014, which was signed on 22 August
See MoreSpain Approves Comprehensive Tax Reform Plans
Spanish parliament has approved the comprehensive tax reforms plans on 24 November 2014, which will be published shortly in the Official Gazette. The legislation will enter into force from January 1, 2015 and followings changes have been taken
See MoreCzech Republic-Kazakhstan Signs Protocol To Income and Capital Tax Treaty
The amending protocol of Income and Capital Tax Treaty (1998) between Czech Republic and Kazakhstan that was authorized on 16th October 2013 and has signed on 24th November 2014. Further details will be reported
See MoreAustria: Approves draft version of 2nd Tax Law Amendment Act 2014
The government of Austria approves a draft version of the 2nd Tax Law Amendment Act 2014 (2. Abgabenänderungsgesetz 2014) on 18 November 2014, it also submitted for parliamentary
See MoreSlovak Republic: Law amendments regarding excise duties signs
The amendments to the law related to excise duties were signed by the President on 19th November
See MoreSpain: Real Time VAT Reporting From 2017
The Spanish government has announced that it will introduce a new real-time VAT reporting system from January 1 2017, requiring larger tax payers to file transaction details within four days of invoices issued/received. The aim of the measure is to
See More