Bulgaria: Tax Increase for the Wealthy
The Bulgarian Government has confirmed that it intends to introduce a higher rate of tax for the wealthy during 2015. A new 15% rate would apply to those earning more than BGN2,700 (USD1,900) per month instead of the flat 10%. Other measures
See MoreRomania: Modify compulsory VAT cash accounting scheme to voluntary
The Romanian tax office is planning to change its controversial obligatory VAT cash accounting rule to a purely voluntary scheme. The present obligatory scheme was initiated at the early of 2013. This system, progressively common in other EU
See MorePolish Parliament approves bill amending CIT law
The lower house of the Polish Parliament approved a bill on 8 November 2013, which enacts significant changes to the Corporate Income Tax (CIT) law as effective from 1 January 2014.The Polish Government was proposed in the bill to include
See MoreNetherlands – Withholding tax on dividends distributed to foreign shareholders
It was reported on 31 December 2013 that the Dutch Supreme Court filed with the Court of Justice of the European Union requests for preliminary rulings in three cases concerning the imposition of Dutch withholding tax on dividends distributed to
See MoreNetherlands – Reassigned authority for treaty-related LOB requests
The Netherlands has concluded a number of tax treaties containing a “Limitation of Benefits” (LOB) article that includes a “catch all” clause. The “catch all” clause allows taxpayers that initially would not qualify for the benefits of
See MoreFrance – Finance Bill 2014 enacted Transfer Pricing Provisions
The Finance Bill for 2014 of France was published on December 30, 2013. The bill contains transfer pricing provisions but the Constitutional Court has rejected certain controversial provisions. As approved by the Constitutional Court the Finance
See MoreIncome tax treaty between Argentina and Spain entered into force
The government of Argentina and Spain signed a new income tax treaty on 11 March 2013. In Argentina’s official gazette new laws published concerning the ratification and entry into force of the new treaty. Corresponding to Ley No. 24.080 of 23
See MoreFrance-Canada DTA protocol approved
In accordance with initial media reports, France's lower house of parliament approved the protocol to the Double Tax Agreement signed with Canada on December 23,
See MoreSwiss Protocol to DTA with Ireland and Turkmenistan in force
The protocol amending the double taxation agreement (DTA) between Switzerland and Ireland, and with Turkmenistan have entered into force, and will both apply from January 1, 2014. The protocol to the double taxation agreement (DTA) between
See MoreSpain: plans to cut taxes for lower incomes
The Government of the Spain intends to reduce individual income taxation (IRPF) for those on lower incomes over the next three years, while higher-income taxpayers will continue to pay more, disclosed by the Spanish finance Minister. This is the
See MoreNew taxes has been introduced by the Italian 2014 Budget
The Italian parliament approved a “maxi-amendment” on December 23 2013 completely replacing the proposals initially made by the Government on October 2013 in its draft 2014 Budget. Government has introduced tax measures that may produce
See MoreDTA signed between Latvia and India
According to media reports, Latvia's parliament approved a law that would ratify the DTA and an accompanying Protocol signed between Latvia and India on December 19,
See MoreDenmark: Changes VAT return filings for small companies
The Danish Budget 2014 changes the VAT compliance regime for small companies therefore if the businesses with sales less than DKK 5 million, the time limit for filing VAT returns will be extended to 60 days from the current 40
See MoreNetherlands Eyes Key Changes To Financial Market Rules In 2014
The Dutch Finance Ministry has announced that a number of key changes to financial market laws and regulations are due to enter into force in the Netherlands from January 1, 2014. The most important legislative changes include plans to impose a
See MoreIrish PM considers tax cuts
It has been reported on 27 December 2013 that for middle income families the Irish Government will prioritize income tax cuts when there is due scope for change, according to the Prime Minister. There will be no income tax increases in the next
See MoreIndia is expected to post a Revenue Service office in Cyprus
India is expected to post a Revenue Service officer in Cyprus early in the new year, just months after it suspended its double tax avoidance agreement (DTAA) with the island. India has set up overseas Tax Units in various countries in an effort to
See MoreSlovenia: Modified Individual Income Tax Law enacted
It has been confirmed on 26 December 2013 that modified Individual Income Tax Law entered into force on 23 November 2013 in Official Gazette 96/2013. The modifications include a provision that in the case of income that arises under a dependent
See MoreAustria: Chancellor says tax reform is first priority
The Austrian Chancellor has clarified that his number one priority is to reform the country’s tax system, as soon as there is scope to do so. The Chancellor highlighted that he will push for the fiscal reform to be financed by wealth taxes. The
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