Czech Republic-Luxembourg ICTT enters into force
The Income and Capital Tax Treaty (ICTT) between Czech Republic and Luxembourg has entered into force on July 31, 2014 and it will apply from January 1,
See MoreFATCA between Germany and USA has come into force
It was announced by the German Ministry of Finance that a law enabling the implementation of the United States' Foreign Account Tax Compliance Act (FATCA) has come into force on July 23, 2014. The agreement is a type 1A Inter-Governmental agreement
See MoreEstonia- Amendments to the Value Added Tax Act
The President of the Republic of Estonia announced on 3 July 2014 amendments to the Value Added Tax Act of the country. The amendments of the Act will be implemented from 1 December 2014. The amended Act establishes limits on deductible VAT on
See MoreGerman Government has refused for a reform of the income tax system to eliminate “cold progression”
The German Government has refused calls for a reform of the income tax system to eliminate so-called "cold progression" before 2017. Cold progression, also known as bracket creep, occurs when inflationary wage increases push taxpayers into higher
See MoreEstonia- New Double Tax Treaty with Luxembourg
Estonia and Luxembourg signed a double tax treaty on 7 July 2014. According to the new agreement reduced rates would be provided for dividends, interest and royalties. The agreement will enter into force after completing internal ratification
See MoreFATCA agreement between US and Czech Republic signed
United States and the Czech Republic signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on 4 August 2014. Under the agreement, Foreign Financial Institutions (FFIs) in Czech Republic will report the information required under FATCA about
See MoreCyprus and Guernsey Sign bilateral Double Tax Agreement
In order to avoid double taxation, Cyprus and Guernsey signed an Income and Capital Tax Treaty on 29 July 2014. The treaty will enter into force after the two countries exchange ratification instruments. Under the treaty, there is no withholding tax
See MoreUK: Certificates of residence for registered pension schemes changes
The process for applying for a certificate of residence for a registered pension scheme changes from 4 August 2014. If you’re the owner of the pension scheme assets, or an authorized third party, and want to request a certificate of residence for
See MoreCzech Republic: Excise duty on cigarette raised to EU minimum
The Czech Republic has approved legislation increasing the excise duty on cigarettes by CZK3-4 to bring its rates into line with EU law. It was prescribed that from January 1, 2014, the overall excise duty (excluding VAT) on cigarettes shall stand
See MoreFrance-Amended Finance Bill for 2014
The national assembly of France adopted the Amended Finance Law and the Amended Finance Law on Social Security for 2014 on 23 July 2014.The Constitutional Court will now review the law and after signing by the president the law will enter into
See MoreCzech Republic-Monaco TIEA signed
The Tax Exchange of Information Agreement (TIEA) between Czech Republic and Monaco has signed on July 31, 2014 regarding tax matters. Details will be reported
See MoreIreland and Denmark signed a Protocol
On July 22, 2014, Ireland and Denmark signed a Protocol to amend their Double Tax
See MoreCanada–UK Income Tax Treaty Protocol Amendments
Recently, Canada has accepted to amend the Income Tax Treaty protocol with the United Kingdom that was signed July 21, 2014. The Protocol initiates a deadline to introduce transfer pricing assessments and changes the time frame for searching
See MoreSlovak Republic: Amendments to the VAT Act
The president of Slovak Republic has signed the law on July 25, 2014 regarding changes to the Value Added Tax Act and this law will enter into force with effect from January 1,
See MorePoland-Guernsey: Income tax treaty enter into force
The income tax treaty of 2013 between Poland and Guernsey will enter into force on 1 October 2014 and it will be applicable form 1 January
See MoreCyprus and Switzerland Sign bilateral Double Tax Agreement
In order to avoid double taxation, Cyprus and Switzerland signed an Income and Capital Tax Treaty on 25 July 2014. The treaty will enter into force after the two countries exchange ratification instruments. Under the treaty, the following
See MoreCzech Republic: Proposal for changing VAT rate
The lower chamber of the Czech parliament accepted in the third reading the VAT law amendment on July 23, 2014 that would initiate changes in VAT rates. At present, the standard VAT rate is 21%. Some goods specifically foodstuffs, pharmaceutical
See MoreBulgaria: Amendments in CIT, VAT and social security
The Budgetary and Finance Commission of the parliament is currently discussing some amendments in corporate income tax, VAT and social security sectors those will be planned for voting by the parliament. Bulgaria will take advantage from the
See More