European Commission – VAT Guidelines for Telecoms and e-Services
On 29 October 2013, the European Commission published guidelines to help companies to prepare for the new value-added tax rules regarding telecommunications and electronic services. The new rules are scheduled to become effective in 2015. Under the
See MoreEU: Stopping the Italian bank guarantee requirement for VAT credits
The European Commission is seeking to prevent Italy from demanding a bank guarantee from non-resident companies which are seeking to apply for a VAT credit via their Italian VAT returns. The European Commission infringement systems try to change the
See MoreEuropean Court of Justice (ECJ): Taxpayer rights in respect of a request for information
The following questions were put to the European Court of Justice (ECJ) by the Czech Supreme Administrative Court on 4 June 2012 relating to taxpayer rights in respect of a request for information. The European Court of Justice determined that EU
See MoreDenmark publishes proposed exit tax rules
The Danish Minister of Taxation published a draft bill on 7 October 2013, which amends the rules on exit taxation. The draft bill was the European Court of Justice (ECJ) decision of 18 July 2013, where Danish exit taxation rules were held to be
See MoreCzech Senate approves Income Tax Law amendment
On 10 October 2013, the Czech Senate approved a special law measure that includes a long discussed Income Tax Law amendment. For this amendment to be enacted it must be approved by a new Chamber of Deputies on its first session. The main changes are
See MoreBelgium: Tax simplification bill
The Belgian Council of Ministers has given approval of the tax simplification bill. According to the bill, any individual for signing a contract last year for the construction of a low energy home will benefit from the tax reduction applicable for
See MoreBelgium: Audits on corporate withholding tax
The Finance Ministry of Belgium has unveiled plans to tighten the rules next year for companies which fail to settle their professional wage-withholding tax obligations for compensation paid out to company directors. The requirements are not being
See MoreBelgium – Hospitality Tax Bill
The Belgian Senate has approved the bill submitted by the Belgian Finance Minister that is designed to reduce the tax burden on the country's hotel and catering industry (Horeca). The bill introduces a new fiscal and social regime for occasional
See MoreAustria – Legislates rapid reaction reverse charge on VAT fraud
Austria has the new mechanism to enable member states to change reporting and VAT obligations at short notice were brought into place. This instrument allows member states to gain consent from the European Commission within 30 days to apply the VAT
See MoreKorea (Rep.) – Poland: protocol treaty signed
Korea (Rep.) and Poland signed a protocol treaty to the Korea (Rep.) on 22 October 2013. Among other changes the protocol updates Article 9 of the original treaty in respect of associated enterprises and adds a new article to the treaty relating
See MoreCzech Republic-Switzerland tax treaty protocol enter into force
The protocol to the agreement regarding the avoidance of double taxation between Czech Republic and Switzerland has entered into force on October 11, 2013 and the real double taxation agreement was signed on December 4, 1995. The protocol covers
See MorePortugal: Temporary tax regularization regime unveiled
For the regularization of tax debt, Portugal’s Council of Ministers has approved an “exceptional and temporary regime”. For those taxpayers who choose to regularize their tax debts by 20 December 2013, the regime accords exemption from the
See MorePortugal and Spain Strengthen Mutual Tax Assistance
Portugal and Spain recently signed agreements aimed at developing and strengthening mutual assistance in tax matters, and at permitting a direct exchange of tax information between the two countries. This is important as part of the worldwide
See MoreNetherlands: Second draft Bill on other fiscal measures
A second draft Bill (No. 33753, No. 8) to amend the original Bill on other fiscal measures was published on 18 October 2013. The draft Bill provides among other measures for the implementation of the decision of the Court of Justice of the European
See MoreLithuania – Regulation for VAT on credit, debit documents
An observation has been issued concerning provisions under Lithuania’s value added tax (VAT) law regarding credit notes and debit documents. The guidance describes as when: a condition to issue a credit VAT letter or a debit certificate
See MoreLithuania: Government permitted draft budget law for 2014
Recently, the Lithuanian Government permitted the draft budget law for 2014 as well as the law draft related to the budget of the municipalities and other related law drafts. According to the draft budget law for 2014, the financial autonomy of
See MoreLatvia adopts 2014 budget project in the first reading
On October 17, 2013 the Latvian parliament adopted the draft of the 2014 budget, a draft of the medium-term budget for 2014-2016 and 38 related amendments in the first reading. Next year’s budget revenue is planned at EUR 7 billion, and expenses
See MoreLatvian Government approves the national 2014 budget
On 1st October 2013 the Latvian government approved the national budget for 2014 with the budget deficit planned at up to 0.9 percent of GDP. Revenues to the central government consolidated budget next year are planned at 7.004 billion Euros and
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