Italy: First payment of municipal real estate tax abolished
Law Decree No. 102/2013, providing for urgent measures with regard to the municipal real estate tax (IMU), was published in the Official Gazette No. 204, Ordinary Supplement No. 66 on 31 August 2013. The first payment of the IMU for 2013,
See MoreGermany: New VAT invoice requirements
Germany has approved a new Act to implement changes to bring German VAT compliance rules into line with the EU VAT Directive and with a number of recent court cases. Under the new Act changes to German VAT invoices include: The obligation to
See MoreFrance: Temporary reduction on taxation capital gains on immovable property
The government of France issued guidelines BOI-RFPI-PVI-20-20-20130809 on 9th August 2013, providing new reductions on capital gains for the purpose of individual income taxation and social contributions. The reduced tax rate is 25%. Moreover, the
See MoreFrance: List of non-cooperative states or territories updated for 2013
The French government published a Ministerial Decree on 28 August 2013 updating the list of non-cooperative states or territories (NCSTs). The list will become effective from 1 January 2013. A major consequence for a country that is on the list of
See MoreFrance rules out plans for tax hikes in 2014
The French government has declared that taxes imposed on companies in France will not rise in 2014. France originally planned to raise an additional 6 billion Euros (5.1 billion pounds) in new taxes next year but acknowledged recently that
See MoreFrance adopts new tax measures to simplify administration
The Council of Ministers of France adopted a bill to implement a new set of measures to simplify administrative procedures for companies on 4 September 2013. The bill will now be subject to parliamentary discussion. The plans of the French
See MoreFinland: Tax Administration published information package on tax havens
On 3 September 2013, the tax administration of Finland published on their website an information package on tax havens. This focuses on the experiences of the Finnish tax administration with tax structures using tax havens, i.e. jurisdictions
See MoreECJ: Advocate General’s opinion on Hungarian retail turnover tax
The Advocate General of the European Court of Justice (ECJ) has issued an opinion in respect of a case involving a Hungarian retail turnover tax. The opinion of the Advocate General is issued as a guide for the ECJ but is not binding on the
See MoreCroatia – Portugal signed Double Tax Treaty
The Government of Croatia approved the signing of a double tax treaty (DTA) with Portugal for avoidance of double taxation and preventing tax evasion on August 29, 2013. This will determines the manner of data exchange between the two countries’
See MoreFrance announces plans for a Carbon Tax
The government of France has announced to initiate a “climate energy contribution”. The new plans will fall within the framework of finance bill 2014. The Government is expected to put forward further environmental tax initiatives in its
See MoreFrance updates list of tax havens
France has revised its list of tax havens to include Jersey, Bermuda and the British Virgin Islands as tax havens, meaning the three territories will be subject to tougher tax policies applied by France. France has however removed the Philippines
See MoreGermany: Draft regulation for the profit attribution to PEs issued for public discussion
The draft version of a new Regulation on the attribution of profits to permanent establishments (PE Regulation) has been issued on 5 August 2013 by the German Ministry of Finance for public discussion. The main goal of the PE Regulation is to
See MoreLithuania: Real estate tax exemption relating to agricultural activities
The tax law of Lithuania has been modified to arrange for an exemption from real estate tax for an entity’s real property when the entity is involved in agricultural activities. The amendment will become effective from January 2014. An exemption
See MoreIncome and capital tax treaty between Saudi Arabia and Luxembourg
The income and capital tax treaty between Saudi Arabia and Luxembourg was signed on 7 May 2013. The text of the treaty has become available now. The treaty will now undergo with some ratification procedures. The new treaty is expecting to become
See MorePortugal: Extraordinary investment tax credit to boost investment is introduced
The Portuguese government introduced an extraordinary investment tax credit with effect from 17 July 2013. The special tax credit will be applicable to investments between 1 July 2013 and 31 December 2013, up to a limit of EUR 5,000,000. The tax
See MoreUK introduces employee shareholder status
From 1 September 2013 employee shareholder status has been introduced in the UK. This allows an employer to enter into a contract with an employee whereby some employment rights are given up by the employee in exchange for shares in the employer’s
See MoreUK: alternative dispute resolution is now available to SMEs and individuals
From 2 September 2013 alternative dispute resolution (ADR) is now available to small and medium enterprises (SMEs) and individuals. If a taxpayer that is in dispute with HMRC asks for ADR a facilitator will be appointed from within HMRC. The
See MoreUK: Corporation tax statistics
On 30 August 2013 HMRC released the latest corporation tax statistics. The publication shows the statistics for corporation tax receipts for 2012/13 and some revised figures in relation to corporation tax liabilities of previous years. Also shown
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