Pakistan: Cabinet approves the DTA Protocol with Austria
Pakistan’s Cabinet approved, on 20 January 2014, the Protocol to the DTA signed between Pakistan and Austria. This effectively completes the ratification on the Pakistan
See MoreAustria: Tax Reform Working Group
The Austrian Government has set up a working group for tax reform, with a view to submit reform recommendations by the end of 2014. The specific reform objectives have already been set out in the coalition agreement, and the planned reforms will
See MoreBelgium – Andorra DTA negotiations
Following a meeting on 14 January 2014, it has been confirmed that Belgium and Andorra will negotiate a double taxation agreement
See MoreAustria: draft 2014 bill amending Tax Acts
The Austrian Ministry of Finance, published the 2014 Tax Amendment Act (Abgabenänderungsgesetz 2014; AbgÄG 2014), on 9 January 2014. This amending law will make changes to certain Austrian Tax Acts, as follows: Limiting tax deductibility of
See MoreBelgium: Simplified Tax Return
Belgium will extend the number of taxpayers eligible to receive a pre-completed, simplified income tax declaration; such tax returns will reduce and simplify reporting requirements for taxpayers. From the 2014 tax year the target group will include
See MoreDenmark: Updated guide on expatriate regime
The Danish tax administration has published, on 15 January 2014, an update of the guide for taxation of foreign researchers and key employees. This provides the amounts and rates applicable in
See MoreFrance Pushes Ahead On FTT
Embarking on a lonely and uncertain course, France’s long-awaited, much debated tax on financial transactions (FTT) finally entered into force on 1 August 2012. Supposedly prefiguring the introduction of a mechanism at European level, a 0.2% tax
See MoreItaly: Changes in international ruling procedure
Italy has modified its international tax ruling procedure, through Art. 7 of Law Decree No. 145/2013. Under this, non-resident entities operating in Italy may obtain an advance ruling on whether their activities in Italy give rise to a PE under
See MoreFrance- Transfer Pricing Rules
Draft legislation introducing a presumption that profits are received if functions and risks are transferred to a foreign related party, unless arm's length remuneration is paid, has been struck down by the Supreme Court and will not be implemented
See MoreSlovenia-Uzbekistan:DTA enters into force
The new Double Tax Agreement (DTA) between Slovenia and Uzbekistan entered into force on 8 November 2013, following publication in the Official Gazette of the Republic of Slovenia on 13 January 2014. The new Treaty will apply to all income
See MorePolish 2014 VAT Law brings in widespread changes
On 13 January 2014 it has been reported that there has been a major overhaul of the Polish VAT compliance regime following the approval of the 2014 Polish VAT Act. The changes are aimed at bringing the Polish Value Added Tax regime more into
See MoreLuxembourg: Government announces key fiscal policy agenda
The new Luxembourg government published components of its future fiscal policy on 2 December 2013. The government will focus on structural reforms in three major areas: an examination of public expenditure, measures to promote economic growth, and
See MoreAustria: Special taxes increased
Austria published draft legislation to increase the tax rate for the special bank levy to 0.09% for assets above EUR 1 billion and 0.11% for those above EUR 20 billion. The draft, which has yet to be agreed upon in parliament, also includes other
See MoreEU: Uniform Customs Code effective from 1 May 2016
The European Commission has notified that the substantive provisions of the Uniform Customs Code have entered into force 30 October 2013, and will be effective from 1 May 2016. Until then, the Community Customs Code and its implementing provisions
See MoreEU: Royalties, license fees dutiable from 1 May 2016
The European Commission has pointed out that the process for determining the transaction value would be amended under the Uniform Customs Code (UCC), due to enter into force on 1 May 2016, resulting in royalties being more often included in the
See MoreEU – Forms for customs enforcement of IP rights
The European Commission has issued new forms which should be used from 1 January 2014 in order to ensure customs enforcement of intellectual property rights. The new implementing regulation that introduces such standard forms, and rules for
See MoreEU: Certain reduced duty rates ending in 2015
The European Commission has notified that EU imports of goods originating from China, Ecuador, the Maldives, and Thailand will no longer benefit from a zero or reduced EU customs duty rate from 1 January 2015. These countries have been determined to
See MoreUnited Kingdom: Dispute resolution, CFC financing, investment “white list”
HM Revenue & Customs have updated some key documents regarding resolution of tax disputes, and have provided new guidance on CFCs. The dispute resolution documents are the Code of Governance for resolving tax disputes; and Commentary on the
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