Netherlands amends the preliminary tax assessment procedure
The amendments to article 23(2) of the Implementing Regulations of the 1994 General Tax Law relating to the issuance of preliminary tax assessments were published in the Official Gazette, No. 2405 . The amendments are summarized below. Under the
See MoreDTA between Malawi and Netherlands terminated
Malawi has terminated the double taxation agreement (DTA) previously in force between Malawi and the Netherlands. The termination takes effect in the Netherlands from 1 January 2014 and in Malawi from 1 April
See MoreLuxembourg: VAT rate will increase
The Luxembourg Prime Minister has announced that, Luxembourg is set to raise its standard rate of VAT in 2015. The standard VAT rate is currently 15% and at present it is the lowest standard rate in the EU. The Prime Minister has indicated that the
See MoreLuxembourg and Mauritius sign DTA Protocol
Luxembourg and Mauritius have signed a protocol amending the bilateral double tax agreement between the two countries. This protocol modifies a number of provisions in the agreement, and provides for the exchange of information upon request between
See MoreItaly’s Transfer Pricing Changes In 2014
Italy has introduced a number of transfer pricing-related changes within its Finance Act 2014 (Law No 147/2013). These changes will have an effect on both administrative procedures and fundamental transfer pricing concepts. Article 1, Paragraph 281
See MoreItaly dealing with transfer pricing legislation domestically
According to a verdict of the Italian Supreme Court in July 2013, internal transfer prices must follow the arm’s-length principle. Italy has been adopting international transfer pricing rules similar to those in the rest of Europe. The Supreme
See MoreIreland: High taxes may reduce competitiveness
The Irish Government has been warned to control further increases in personal taxes by the head of the country's largest recruitment firm. A recent survey found that almost half of all Irish job seekers are now emigrating to find work. Roughly one
See MoreFrance: Reduced VAT rate on digital newspapers and magazines
The French government is about to propose a VAT reduction for digital newspapers and magazines. The intention behind this move is to provide a level playing field for different forms of publication. The government wants to give the digital versions
See MoreIGA agreement sign between Hungary and US to implement FATCA
On February 4, 2014, Hungary and the US signed an agreement to implement the U.S. Foreign Account Tax Compliance Act
See MoreEuropean Parliament Urged To Outlaw Anonymous Shell Companies
The European Parliament has been urged to support the creation of public registries of corporate ownership. This suggestion has been made by a Washington DC-based research and advocacy organization. Global Financial Integrity (GIF) studies and
See MoreEU: European Commission publishes Paper on Behavioral Economics and Taxation
Recently, the European Commission published working paper N.41, entitled "Behavioural Economics and Taxation" summarizing central parts of economic literature on integrated behavioural economic models that take into account both psychological and
See MoreEU: European Commission presents Working Paper on Thin Capitalization Rules
The European Commission has recently published working paper N.42, entitled "Thin Capitalization Rules and Multinational Firm Capital Structure" This paper examines the impact of thin capitalization rules (that limit the tax deductibility of
See MoreDTA between Greece and San Marino entered into force
The San Marino government issued Decree No. 9, which ratifies the double taxation agreement with Greece, on 28 January 2014. The agreement entered into force on the same
See MoreCyprus: Five new double tax agreements in effect
Recently, Cyprus has put five new double tax agreements (DTAs) into effect, including a treaty with the Ukraine which includes beneficial treatment for real estate owned through a Cyprus holding company. The country’s DTA with Russia used to
See MoreBelgium explains 2014 Tax Audit Focus
The Belgian Tax Administration has declared the areas that will be the focus of its tax audits in 2014, to encourage taxpayers to correctly fulfill their tax obligations, and to increase voluntary tax compliance in Belgium. The aim is to increase
See MoreBelgian tax reform begin to emerge
In Belgium a consensus is arising that taxpayers should declare both their income from capital and income from labor in their income tax declaration. Advocates of this idea suggest that the income tax scale should be revised, to strengthen the
See MoreAustria: Research Institute Calls for Symbolic Cut in Taxes on Labor
The President of the Austrian Institute of Economic Research has urged the Government to launch its offensive on reducing the fiscal burden on labor in Austria as early as next year, starting with a symbolic first step. He proposed that the
See MoreAustria publishes revised draft bill amending tax acts
A revised draft bill of the 2014 Tax Amendment Act (Abgabenänderungsgesetz 2014; AbgÄG 2014) was forwarded to the Austrian Parliament on 29 January 2014. The revised draft bill modifies the initial draft bill with amendments to certain Austrian
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