Lithuania – Tax card for 2014
Lithuania has prepared a “tax card” that provides an easy-to-read overview of the tax system in Lithuania for 2014. This provides a convenient reference for businesses operating in
See MoreLatvia introduces Tax card for 2014
Latvia has prepared a “tax card” that provides an easy-to-read overview of the tax system in Latvia for 2014. This card includes a review of Latvia’s corporate income tax rates and rules, micro-enterprise tax, individual (personal) income tax,
See MoreItalian Red Tape Reduction Could Fund Tax Cuts
At its 15th annual forum the President of Confcommercio, the federation representing small and medium-sized enterprises, professionals and sole traders in Italy, re-asserted his appeal for the Government to link a reduction in public expenditure
See MoreIreland – Finance Minister clarifies Corporate Tax Developments
Ireland has confirmed that the changes to residency rules that are intended to deal with the problem of mismatches between treaty partner countries have so far not affected any company’s residence status. The reform which was in the 2014 Finance
See MoreIreland – Car Tax Breaks for Disabled Persons
Ireland has announced that from the end of this year it is to abolish the excise duty relief relating to the fuel portion of the Disabled Drivers and Disabled Passengers scheme. This is a consequence of a decision of the European Court of Justice,
See MoreFrance – VAT on house improvement rises
France has confirmed that the reduced rate of VAT on home improvements is to rise from 7 percent to 10 percent. The previous 7 percent rate will however still apply in certain situations including work that began before 1 January 2014 and cases
See MoreUK Pushes for conclusion of the Canada-EU FTA
The UK is hoping for a swift conclusion to negotiations for a free trade agreement (FTA) between the EU and Canada, as this could be of considerable benefit to UK companies. The EU is Canada’s second largest trading partner after the US, based on
See MoreFrance – Sin Taxes should target health care goals
In France a committee of the Senate has suggested that the behavioral taxes on certain goods such as tobacco and spirits should be more directly linked to government public health targets. These taxes could be renamed public health contributions to
See MoreFrance – Employers demand Corporate Tax Cuts
Anxious to kick-start talks on a reform of corporation tax, the President of the French employers' federation Medef, has called on the Government to lower the corporate social solidarity contribution (C3S) together with the headline rate of
See MoreExchange of information agreement between Belgium and Grenada ratified by Belgium
Belgium has ratified the Exchange of Information Agreement it has signed with Grenada. The OECD has been encouraging the conclusion of agreements on the exchange of tax information to improve tax transparency and help to combat tax
See MoreEU – Expanded scope of Savings Taxation Directive
According to information released on 21 March 2014 the European Council has given the go ahead to the amended Savings Tax Directive. Luxembourg agreed to the proposed changes and this removed the final obstacle to the adoption of the revised
See MoreEU Report Tracks Protectionist Trade Measures
The European Commission has issued the latest edition of the publication entitled Trade and Investment Barriers Report (TIBR). This looks at the amount of progress made in removing barriers to trade by local companies with third countries and
See MoreDTA between Hungary and Algeria under negotiation
Hungary has issued a decree authorizing the relevant Ministries to commence negotiations for a double tax treaty with Algeria. No further details are available in respect of a date for commencement of
See MoreDTA between Denmark and Ghana signed
Denmark and Ghana signed a Double Taxation Agreement (DTA) on 24 March 2014. The agreement allocates taxing rights between the two countries in respect of taxes on income and capital gains. A mechanism is provided for the elimination of double
See MoreCzech Republic – Tax legislation anticipated
The Czech Republic is to shortly make available for consultation a new legislative plan. This plan will include proposals for regulating some of the concepts contained in the Civil Code. These changes will affect the concept of trusts and will also
See MoreCzech Republic – Ministry of Finance announces proposed future tax measures
The Czech Republic has issued information on proposals for future amendments of the tax law. These amendments would come into effect from 1 January 2015 or 1 January 2016 and would be mainly targeted at the fight against tax evasion and artificial
See MorePortugal: Necessary requirements for Financial Services
In Portugal, a restrictions on the deduction of interest has announced that effects from 2013. Net financial costs are only deductible up to the higher of EUR 1 million (EUR 3 million before 1 January 2014) or 30% of profit before depreciation, net
See MoreTreaty between Indonesia and Latvia under negotiation
Indonesia and Latvia have announced that they intend to intensify negotiations for a double taxation agreement. No details of the likely content of the agreement are currently
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