Austria: Gets an extra year to fully comply with Automatically Exchange Tax Data
The EU's council in Luxembourg on 16 October 2014 at a meeting the finance ministers decided that Austria being granted an extra year to improve the infrastructure desired to comply with the new law. Under the new law tax authorities in the EU will
See MoreCzech Republic: Issues transfer pricing form
From October 2014 a transfer pricing form has been introduced for submission to the tax authorities annually with the tax return, requiring information on related party transactions. This form must be submitted by taxpayers if their total assets are
See MoreLuxembourg: New tax measures take place for corporation and individual effective from 1 January 2015
The Parliament of Luxembourg published its bill 6720 & 6722 on 15 October 2014 regarding new tax measures for corporation and individual which will be effective from 1 January 2015. The Proposed new tax measures for 2015 are as
See MoreLuxembourg: New Transfer Pricing rules from 2015
A new transfer pricing rules will take effect in Luxembourg from the year 2015 in line with international principles and OECD Tax Model convention providing adjustments of profit provisions if transfer pricing do not reflect the Arm’s Length
See MorePortugal: Corporate tax cut proposed in 2015 budget
The government of Portugal proposes corporate tax rate cut from 23% to 21% in 2015 budget. The parliament of Portugal presents its 2015 budget on October 15, 2014. It is not possible to reduce personal income taxes in 2015 as Minister of State and
See MoreNew report publishes on EU tax policy Changes in 2014
A new tax report on key tax reforms implemented by the European Union member states during 2014 was published by the European Commission. The report point out that EU tax burden on labor is relatively high. It suggest the member states to reduce
See MoreBelgium: Advance invoice rules on VAT will be effective from 2015
The VAT advance invoice rules has been issued by the Belgium tax authorities this week and published as Administrative decision ET. 126.003 of 7 October 2014. This regime will be replaced by the existing guidelines and will be effective from 1
See MoreSpanish Cabinet authorizes the signing of the protocol between Spain and Canada
The Spanish Cabinet authorized the signing of the Protocol between the Kingdom of Spain and Canada, amending the agreement between the two countries to avoid double taxation and prevent fiscal evasion with respect to taxes on income and on capital,
See MoreIreland: Individual Income tax cuts in Budget of 2015
Finance Minister of Ireland has announced to cut the marginal rate of individual tax and also set out plans for the reform of the corporate tax regime in 2015 budget. The budget is aimed to recover the economic condition of Ireland. The marginal
See MoreUK-Netherlands Double Taxation Convention
The competent authorities of the United Kingdom and the Netherlands have reached the following mutual agreement regarding the application of the Convention between the Government of the Kingdom of the Netherlands and the Government of the United
See MoreSpanish Tax Scheme For Foreign Acquisitions Is Incompatible, Says EU
The European Commission has reported that a new interpretation of a Spanish tax scheme benefiting companies acquiring foreign shareholdings is incompatible with European state aid rules. Spanish current scheme allows companies to deduct the
See MoreMalta: No requirement of Mini One Stop Shop (MOSS) Invoices
Malta will not be required to provide VAT invoices in accordance with the normal VAT invoice disclosure requirements of the EU VAT Directive which is applicable to the providers of digital services to consumers. The digital services will
See MoreSwitzerland- EU: Signed an agreement on tax reform
Switzerland and EU have signed an agreement on 14 October 2014 in order to eliminate disputed corporation tax regimes. According to the agreements the Swiss Federal Council will eliminate five corporate tax regimes and these areas- the cantonal
See MoreBelgium: Confirmation to increase VAT registration threshold from 2015
The tax authorities of Belgium confirm its plan to increase VAT registration threshold from 2015. The companies having taxable supplies above €25,000 will need to be registered for VAT from 2015. Previous limit on the 6% VAT rate for renovation
See MoreIreland: Changes of tax rules in Budget 2015
The Ireland’s Ministry of Finance announced tax rules changes on 14 October 2014 with the plan to attract foreign investment through creating a competitive environment. The summary of the changes are as follows: Elimination of maximum
See MoreIreland: 2015 budget amendments and revocation of “double Irish” structure
Ireland presents 2015 budget on October 14, 2014 with some proposals concerning amendments of provisions for business and corporate taxpayers. The summary of the amendments are as follows: No change of 12.5% corporate tax rate; The residency
See MoreECOFIN: Extension of an automatic exchange of tax information agreement by the EU Council
A reviewed “administrative cooperation directive” agreement have been agreed by the EU Council of Economic and Finance (ECOFIN) Ministers on October 14, 2014. This reviewed agreement on the revised directive is aimed on promoting the automatic
See MoreCroatia – Luxembourg: DTA approved by Croatia
Croatia approved the Income and Capital Tax Treaty between Croatia and Luxembourg of 2014 on 25 September 2014 and the treaty will be delivered to the parliament for final
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