Slovenia -United States ratified FATCA agreement 2014 by Slovenia
The Slovenia - United States FATCA Agreement (2014) has been signed on 2 June 2014. Slovenia also approved the Agreement on 19 June 2014 which has been published in the Official Gazette No. 8/14 of 30 June 2014. The approval law becomes effective
See MoreCzech Republic-Singapore DTT protocol ratified
The Czech Republic has ratified the amending protocol to the Czech Republic - Singapore Income Tax Treaty (1997) on June 24, 2014 and it was signed on June 26, 2013. Further details will be reported
See MoreCzech Republic -Ukraine DTT protocol ratified
The Czech Republic has ratified the amending protocol to the Czech Republic - Ukraine Income and Capital Tax Treaty (1997) on June 24, 2014 and it was signed on October 21, 2013. Further details will be reported
See MoreUK :The Retailer’s tax claims has been rejected by the Tribunal
It was welcomed by the HM Revenue and Customs (HMRC) the dismissal of a multi-million pound tax allowance claimed by one of the UK's largest clothing retailers by the higher Tribunal's. The claim of Next Distribution Limited, part of Next Group Plc
See MoreItaly: Withholding tax rate hikes on financial income.
Italian withholding tax rate hike on financial income from 20 percent to 26% has been effective from July 1, 2014. Italian savers has been imposed increased tax rate on interest, dividends and capital gains in the passes of governments which was
See MoreFrance-Signed Protocol to DTA with Switzerland
France and Switzerland has signed a protocol on 25 June 2014 to the agreement of 1966 for the avoidance of double taxation. The protocol would amend the existing agreement by updated provisions on the administrative assistance in tax matters and
See MoreSpain and Dominican Republic treaty enters into force
The income tax treaty between Dominican Republic and Spain will enter into force from 25 July 2014. The treaty was signed on 16 November 2011, which generally follows the OECD provision and concluded Spanish language. Under treaty, the maximum
See MoreGreece: Planning to cut tax rates for oil and gas companies
The tax rate of oil and gas explorers has been planned to reduce to 25% from current tax rate of 40% and 5% of the tax will be allotted for local communities. As per Greece energy minister, Ioannis Maniatis, the measure will be taken to attract
See MoreGermany: To focus on tax reforms in G7
As per German media report of 29 June 2014, Germany wants to focus on tax reform after taking over the presidency of the Group of Seven (G7) next week. Germany emphasized the need for sound public finances to achieve effective growth in the G7
See MorePoland: Proposal for single VAT rate
The Finance Ministry of Poland revised its standard and reduced rate of VAT for creating a single rate to simplify the VAT procedure. Poland’s current VAT rate is 23%; this rate will decrease in between 8% to5%. From 2016 this rate will further
See MoreCzech Republic: Amendment of VAT Law has submitted to parliament
The government has submitted a VAT Law amendment to the parliament initiating changes to supply rules in telecommunications field, broadcasting and electronic services. The changes would generally apply with effect from January 1, 2015. The main
See MoreAustria: planning for Restructuring Tax Administration
Austrian Finance Minister planning for greater fiscal sovereignty for the federal states and municipalities, to decrease administrative costs and finance tax cuts for low earners. He also said that, “tax sovereignty should pass from Government to
See MoreFATCA agreement between US and Latvia signed
Latvia and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on June 27, 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Latvia will report the information required under FATCA about U.S. accounts
See MoreEU Signs Historic Trade Pacts with Eastern States
The European Union (EU) and three of Russia’s neighbors signed sweeping trade-and-political agreements that will ultimately eliminate tariff barriers to trade. The deals with Ukraine, Georgia and Moldova which will provide for a deep and
See MoreSwitzerland-Hungary: Signed Double Taxation Agreement
Switzerland and Hungary signed a double taxation agreement on 4 June 2014. Switzerland's lower house of parliament has approved the DTA after ratification by both
See MoreSpain: Cabinet approves reduction to income tax rates
The Spanish Cabinet on June 20, 2014, approved the downsizing the corporate and individual income tax rates to encourage investment and employment. Under the revised plans, the corporate tax rate will fall from 30% to 28% in 2015 and to 25 percent
See MoreIMF alerts Slovak Republic on VAT rate cut
Slovakia has increased its VAT rate from 19% to 20% in 2011. IMF has warned that reducing the rate back to 19% would expense 0.3% GDP in tax takes for the country. As the economic picture has enhanced slightly, many countries have started to think
See MoreFrance Reveals Revised HGV Tax
The French Ministry of Ecology has announced that the plans for a heavy goods vehicle (HGV) "eco" tax will be abandoned. Instead of this a truck transit toll will be imposed from 1 January 2015. The charge will be applied to all HGVs over 3.5
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