Portugal: Tax Burden Rises In 2013
The organization Statistics Portugal has reported that the tax burden went up by 8.1 percent in 2013 compared to 2012. This was in large part because of an increase in direct taxes although some of the rise was also due to a tax amnesty. Indirect
See MorePortugal’s Socialist Party Would Restore Hospitality Reduced Rate
Portugal's Opposition Socialist Party (PS) leader, has promised to return the value-added tax (VAT) rate on the restaurant and catering industry to the lower rate of 13 percent if it wins the elections due to be held in 2015. The tariff was
See MoreLuxembourg: Rules Out Top Tax Rate Rise
The Luxembourg government is planning to raise more revenue in the next few years by putting together a package that will include some tax rises. The Finance Minister has recently clarified however that the highest rate of income tax is not to be
See MoreLithuania: IMF Looks At New Revenue Sources
Lithuania’s tax revenue as a percentage of GDP is currently one of the lowest in Europe. The IMF considers that Lithuania could increase government revenues by making improvements to tax on wealth and capital and by broadening the scope of value
See MoreLatvia: IMF Backs Retention of Flat Tax Rate
According to a statement by the International Monetary Fund (IMF) Latvia should not change the flat rate of personal income tax. As in previous years the IMF has recommended that Latvia should adjust the tax thresholds rather than change the rate.
See MoreIrish Personal Income Tax Cuts may be Needed
The American Chamber of Commerce Ireland has suggested that the high marginal individual income tax rates in Ireland combined with the low threshold for the highest rate create an obstacle to attracting key personnel. This also causes a cost burden
See MoreGreece: OECD Report Considers Streamlined VAT Obligations
The Organization for Economic Cooperation and Development (OECD) has proposed changes that would assist taxpayers in complying with the value added tax (VAT) rules. The compliance burden for taxpayers could be reduced by establishing a clear
See MoreGermany: OECD Report Suggests Lower Labor Taxes
The Organisation for Economic Co-operation and Development (OECD) has stressed the need for Germany to implement economic reforms to achieve sustainable growth. The priorities include making the tax system more equitable and environmentally
See MoreGerman Transition to Electronic Payroll Tax Platform Successful
The introduction of an electronic income tax tracking system, ELStAM, has been carried out without any problems, as is shown by the figures to 7 April 2014. This new system has been introduced to deal with tax on wages and more than two million
See MoreGerman States Agree Tougher Tax Regularization Rules
German federal state finance ministers have discussed improvements to the tax system and have decided on action to strengthen the “declaration of non-compliance” that permits residents to regularize their tax affairs without the possibility of
See MoreGerman Bill Revises Energy Tax Concessions for Industry
The Cabinet has given the go-ahead to a Bill to amend the provisions of the renewable energy law. This ensures that the tax concessions given to energy intensive companies are not contrary to EU law, while preserving the competitive nature of energy
See MoreFrench Local Tax Reforms Have Cut Tax Burden
A report issued by the Board of Compulsory Levies (CPO) in France suggests that small and medium enterprises have benefited by the introduction of the local economic contribution in place of the local business tax. This contribution is the most
See MoreFrance- Lawmakers Seek Simpler Tax Regularization Scheme
French members of parliament have indicated that offering taxpayers a chance for tax regularization through a lump sum 10 percent tax on assets repatriated would raise revenue for the government of around EUR 10 billion. Around half of this sum
See MoreFrance Plans Higher Exempt Threshold for Low Earners
The French Prime Minister intends to take around 650,000 low income individuals out of the direct tax net by adjusting the personal income tax thresholds. Taxpayers with income up to around EUR 15,000 would not be paying income tax after these
See MoreEU – Customs tariff duties suspension on industrial and agricultural products
The European Commission has issued a notice to economic operators in relation to the suspension of autonomous common customs tariff duties on certain industrial and agricultural products. A list of the products affected by the measure is available
See MoreEU: Issues opinion regarding cross-border intra-company transactions within a VAT group
On 8 May 2014, the Advocate General (AG) of the Court of Justice of the European Union (CJEU) issued an opinion in the case of Skandia America Corporation USA, Sweden branch (C-7/13). The questions referred to the CJEU by the Swedish court related
See MoreEU Member States React To EU FTT Declaration
Some EU member states have commented on the intention of a number of member states to go ahead with the introduction of a financial transactions tax (FTT) under the EU’s enhanced cooperation provisions. The member states that are not participating
See MoreEU and China sign mutual recognition agreement
A mutual recognition agreement signed by the EU and China is to simplify procedures and lower costs for many traders. The two sides agree to recognize their certified safe traders and to permit them to benefit from speedier controls and reduced
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