Switzerland urged to approve IHT agreement with France
The French Finance Minister has informed Switzerland that France will not renegotiate the revised inheritance tax (IHT) agreement the two countries have drafted if it is rejected by Swiss lawmakers. The revised Franco-Swiss IHT accord was signed in
See MoreSpain – Refund opportunity for retail sales tax on hydrocarbons
The Court of Justice for the European Union (CJEU) in late February 2014 issued a judgment, finding that Spain’s tax on retail sales of certain hydrocarbons is contrary to EU law. The CJEU rejected a request of the Spanish tax authorities that
See MoreRomania: no abrupt change in fiscal policies this year
The Romanian Prime Minister has confirmed that there will be no abrupt change in the government’s fiscal policies this year, rejecting speculation that an incremental income tax could be introduced. The 16 per cent flat tax was introduced in
See MoreMalta seeks to attract Small Businesses
Malta’s Finance Minister has stated that the country wants to ensure that the country's taxation system is as business friendly and streamlined as possible to facilitate and attract investment. The statement was made at the MIM Malta International
See MoreLuxembourg –VAT shortfall
In the recent Luxembourg budget, it was announced that the estimated annual VAT shortfall following the changes will total €600m to €1.1bn. This amounts to between 4.9% and 9.1% of the current annual VAT take. Due to the significance of this
See MoreLuxembourg – No VAT rise in the 2014 Budget
Luxembourg's Finance Minister has presented the 2014 Budget to the Chamber of Deputies. The 2014 budget does not include plans to raise value-added tax (VAT) in 2014 as had initially been predicted. The Finance Minister has however indicated that
See MoreLithuania: Increase in excise duty on alcohol
Lithuania's Prime Minister has confirmed that the only tax change currently planned is a change to excise duty on alcohol, which will be phased in over three years. The proposal was recently supported by the ruling coalition's Political Council, to
See MoreDTA between Laos and Luxembourg enters into force
According to preliminary media reports, the double taxation agreement (DTA) signed between Laos and Luxembourg will enter into force on March 21, 2014. The agreement, which was originally signed on 14 June 2013, will take effect from 1 January
See MoreItaly – Italian Football Clubs Renew Tax Protocol
The Italian Revenue Agency has signed a protocol with the Italian national soccer federation (FIGC), which will renew regulation and control over the tax affairs and fiscal compliance of the professional clubs that come within the federation’s
See MoreItaly: new rules on taxation of digital economy services partially repealed
Law Decree No. 16/2014 was published in the Official Gazette No. 54. Under article 2(1)(a) of the Law Decree, some of the new rules on taxation of digital economy services have been repealed. These rules required advertising services purchased
See MoreIrish coalition honoring tax promises
The Irish Prime Minister has suggested that Ireland has now implemented more than 90 percent of the tax measures and spending cuts needed to bring its public finances under control. Ireland’s 12.5 percent corporate tax rate has played a central
See MoreIreland – Finance Minister Talks Fiscal Policy
According to the Irish Finance Minister the core objective of the Medium Term Economic Strategy (MTES) is full employment by 2020. In connection with this strategy Ireland will continue to prioritize taxation measures that ensure the recovery
See MoreIreland – Evaluation of R&D tax credit regime
Ireland’s Department of Finance in 2013 undertook a comprehensive review of the Irish research and development (R&D) tax credit regime, to determine that the R&D tax credit provides “value for money” for taxpayers. The review had 5 key
See MoreGuernsey expects to sign a DTA with Austria
According to the Guernsey Government, Guernsey expects to sign a double taxation agreement (DTA) with Austria on May 14, 2014. No further details are currently
See MoreGermany reverses plans on Railway Eco Tax Break Repeal
The German Economy and Energy Minister has reversed plans to strike out the renewable energy tax (EEG-Umlage) rebate for train operators. The EEG-Umlage is intended to finance the transition in Germany towards the use of renewable sources of
See MoreFrance- Transfer Tax hiked
According to the French Tax Administration 66 out of the 101 departments in France have elected to increase their house transfer tax rate from March 1 2014. The house transfer tax is imposed on transactions involving older property. Other expenses
See MoreFrance To Simplify Tax System
The French General Inspectorate of Finance (IGF) has found that 192 taxes in France each yield less than EUR150m (USD208m), and has advocated abolishing two-thirds of them. The report has been prepared by the IGF on behalf of the French Budget
See MoreFrance cuts VAT rate on digital news
The French government has updated the Tax Code to reduce the VAT rate on digital news and journals from the standard 20% rate to the reduced rate of 2.1%. This puts digital news on a par with printed newspapers and magazines. This change is in
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