Italian Tax Cuts Should Favor Employees
In Italy the association of sole traders and small businesses has recommended that measures should aim at reducing Italy's individual income tax (IRPEF) burden. The total tax collections from labor have reached EUR296.4bn, of which almost EUR161.5bn
See MoreItalian Supreme Court rules on tax residence concept
The Italian Supreme Court gave its decision on 17 January 2014 in case No. 1811 concerning the issue of whether the Maltese company should be considered resident in Italy for tax purposes. The case particularly concerned the provision that a company
See MoreIreland – Think Tank considers that income tax cut should benefit all
A think tank has looked at the possible benefits of lowering Ireland’s income tax rates. There is currently a debate in Ireland on reducing either the 41 percent higher rate of the 20 percent basic range of income tax. Reducing the higher 41
See MoreIreland: opportunities for US firms
The Irish Prime Minister has described the 12.5 percent corporate tax rate as a "cornerstone of the offering of attractiveness that Ireland has," telling the US Chamber of Commerce that his country is open for business. Although a few years ago
See MoreGermany: Proposals to adjust personal income tax brackets
The leader of Germany’s Social Democrat party (SPD) has backed proposals to adjust the personal income tax brackets in an effort to undo stealth taxation that has resulted from the effects of inflation. This is considered to have unfairly hit
See MoreGermany and Georgia sign a double taxation agreement
On March 10, 2014, Germany and Georgia signed agreements on financial cooperation and a protocol on amending the agreement on avoidance of double taxation. The amendments in the double taxation avoidance agreement mainly concern the article in
See MoreFrance Urged To Review Social Housing Tax Break
Under the French tax law there is tax relief available in respect of social housing in certain overseas areas, in an effort to increase the supply of low cost residential accommodation. The French Court of Auditors has however called on the
See MoreFrance – VAT on hotel accommodation may be damaging the tourism sector
In the opinion of some commentators the 1 January 2014 increase in VAT on hotel accommodation may be damaging the French tourism sector. The French hotel VAT rate rose from 7% to 10% in 2014 as part of reorganization of all French VAT rates –
See MoreFrance employers and unions considering draft accord
The French trade unions are considering a draft accord that sets out the terms and conditions for a EUR30bn (USD41.6bn) reduction in labor costs. The main employers' associations Medef, the CGPME, and the UPA have drafted the agreement, which urges
See MoreFrance – Introduces new share saving plans
The French Government has published decree number 2014-283 of March 4, 2014, increasing the ceiling for investment in the tax-exempt share savings plan (PEA), and introducing a new share savings plan (PEA-PME) exclusively for investment in small-
See MoreFinland and Chile Sign US FATCA
On March 5 2014 the United States signed intergovernmental agreements (IGAs) with Finland and Chile to implement the Foreign Account Tax Compliance Act (FATCA). A total of twenty four of these IGAs have so far been signed by the US in connection
See MoreExchange of information agreement between Greece and Guernsey enters into force
On 7 March 2014, the Exchange of Information Agreement between Greece and Guernsey entered into force. The agreement generally applies from 7 March 2014. Agreements on the exchange of tax information are seen as an important tool in combating
See MoreExchange of information agreement between Belgium and Guernsey
According to a communication of 11 March 2014, published by the Guernsey tax authorities, Belgium and Guernsey have initialed a tax exchange of information agreement (TEIA). Guernsey has recently been negotiating TIEAs as part of a commitment to
See MoreEU- To Cut Tariffs On Ukrainian Exports
The European Union (EU) is to temporarily cut tariffs on Ukrainian exports until November 1, 2014. The EU has announced that it hopes in the meantime to sign the Deep and Comprehensive Free Trade Area (DCFTA) agreement with Ukraine. The College of
See MoreEU – Frequently asked questions on EU Savings Taxation Directive
Recently the European Commission provided a discussion of frequently asked questions (FAQs) concerning the EU Savings Taxation Directive. The Savings Directive aims to address cross-border tax evasion by creating an information exchange system for
See MoreEU-European Parliament Backs New Money Laundering Law
The problem of money laundering has received increasing attention in recent years. Although many countries have their own money laundering laws the problem can be tackled more successfully with international cooperation. The European Parliament has
See MoreEU: JTPF presents comments received on the discussion paper on the Arbitration Convention
The Joint Transfer Pricing Forum (JTPF) held a meeting in Brussels on 6 March 2014at which the following items were discussed: – Information by the European Commission on ongoing issues; and – Arbitration
See MoreEstonia – Amendments to VAT law
Estonia’s parliament (Riigikogu) has passed amendments to the value added tax (VAT) law that will be effective in 2014 or in 2015. Among the most significant amendments effective as from 1 March 2014 include the following: The amendments
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