Spain: drops requirement to submit records with VAT returns
The VAT authorities of Spain have decided to withdraw a requirement to submit supporting VAT records with monthly VAT returns. The requirement was originally introduced in 2009. According to this requirement all Spanish VAT registered businesses
See MoreProtocol to DTA between Belgium and San Marino in Force
The Ministry of Finance of Belgium announced on 18 September 2013 that the protocol to the agreement for the avoidance of double taxation between Belgium and San Marino entered into force on 18 July 2013. The protocol was signed on 14 July
See MoreProtocol to DTA between Belgium and Denmark in force
The Ministry of Finance of Belgium pronounced on 18 September 2013, that the protocol to the agreement for the avoidance of double taxation with Denmark entered into force from 18 July 2013. Also the protocol was signed in 7 July 2009 and this
See MoreNetherlands: Bill on Various Tax Amendments approved by Lower House
On 19 September 2013, the Netherlands Lower House of parliament approved a Bill on Various Tax Amendments 2013. The Bill provides that a person who has reached the age of 60 but is not yet 64 at the commencement of the calendar year and earns income
See MoreNetherlands: Bill amending interest rates for late payment of taxes submitted
The Netherlands government submitted Bill 33 755 No. 3 on 17 September 2013, amending the interest rates related to the late payment of taxes to the Lower House of parliament. Under the current regime, the interest rate for the late payment of all
See MoreLuxembourg: A judgment of the ECJ regarding Principal establishments
A judgment of the EU Court of Justice concluded that a company having its principal establishment in an EU Member State may not take into account for reasons of calculating the deductible amount of VAT, the turnover of its foreign branches on 24
See MoreItaly: VAT rate will rise to 22% from 1 October 2013
The move to delay the Italian VAT rise to 22% until 1 January 2014 has failed. This means that the Italian VAT rate will rise to 22% from 1 October 2013. Registered businesses should therefore ensure that all necessary procedures are in place to
See MoreItaly-Introduction of daily VAT filings opportunity
To reduce the number of VAT filings, the Italian VAT authorities are set to offer Italian VAT registered businesses the choice of submitting daily VAT declarations. Companies taking this option will not have to complete additional reports such as
See MoreFrench: Corporate Tax Plans
On 27 September 2013 the French Government announced plans to introduce a "contribution on the gross operating surplus" of a company, within the framework of its 2014 finance bill. Marking an important change to corporate taxation, the Government
See MoreFrance -Presents Finance Bill 2014
The French Finance Minister and Budget Minister presented the country’s 2014 finance bill to the Council of Ministers on 29 September 2013, providing for a number of tax measures designed to increase employment and to modernize and preserve
See MoreFrance: Considers EU Data Transfer Tax
Reports suggest that France aims to put forward the idea of a tax to be imposed on data transfers outside of the European Union (EU) at the upcoming European summit meeting due to be held on October 24 and 25. Together with Germany and the UK,
See MoreUK: Judicial decisions on capital allowances
The Upper Tribunal rejected an appeal from HMRC against a capital allowance claim in a recent decision involving Lloyds TSB Equipment Leasing. The claim related to finance leases in relation to two liquid natural gas (LNG) vessels that were leased
See MoreIncome and Capital Tax Treaty between Luxembourg and Tajikistan entered into force
The Income and Capital Tax Treaty between Luxembourg and Tajikistan entered into force on 27 July 2013. The treaty will applicable from 1 January
See MoreIncome and Capital Tax Treaty between Luxembourg and Seychelles entered into force
Income and Capital Tax Treaty between Luxembourg and Seychelles entered into force on 19 August 2013. The treaty will applicable from 1 January
See MoreNew Income and Capital Tax Treaty between Hungary and Switzerland
The Income and Capital Tax Treaty between Hungary and Switzerland was signed on 12 September 2013. After entering into force and becoming effective the new treaty will replace the existing Hungary – Switzerland Income and Capital Tax Treaty of
See MorePortugal: Corporate income tax proposals for 2014
Currently, Portugal thinking to take initiatives that would reform the corporate income tax law. The Corporate Income Tax (“CIT”) 2014 Reform Proposal, which is currently under public consultation. The main measures contained in the proposals
See MoreItaly: Update on new VAT declaration
Italy has provided detailed requirements for the new Italian VAT declaration (Spesometro) providing detailed analysis of VAT transactions above €3,600. The Spesometro VAT return which was first proposed in 2010 is the latest effort by the Italian
See MoreNetherlands: Voluntary disclosure relief system relaxed
The Dutch Finance Ministry has announced plans that for those taxpayers who have undeclared assets disclosure system between September 2, 2013, and July 1, 2014 is going to be relaxed. If two-year period is expired, generally a voluntary disclosure
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