UK: Review of bank levy
When the introduction of the UK bank levy was announced in the 2010 budget it was also announced that there would be a review in 2013 to ensure that the levy was operating efficiently. On 4 July 2013 the UK published a consultation document on the
See MoreTreaty between Kuwait and Slovenia enters into force
The Income and Capital Tax Treaty between Kuwait and Slovenia entered into force on 17 May 2013. The treaty generally applies from 1 January 2014. Under the Treaty, the definition of a permanent establishment includes a situation where substantial
See MoreTreaty between Japan and Portugal enters into force
The governments of Japan and the Portuguese Republic signed an income tax treaty in December 2011. The mutual notifications of the completion of the necessary domestic procedures were completed on 28th June 2013 and in accordance with Article 28 of
See MoreItaly: 1% VAT rise has been delayed until 1 October 2013
The Italian government announced on 26 June 2013 that the introduction of the increased rate of value added tax (VAT) will be deferred to 1 October 2013. The VAT rate will remain at 21% until October 2013. The VAT rate was originally scheduled to
See MoreGermany: Enactment of Cross-border profit allocation rules
Enactment of legislation regarding cross-border profit allocation was published in the Germany federal law gazette on 29 June 2013. Changes with regard to transfer pricing with the transposition into German tax law of article 7 of the OECD Model
See MoreBelgium: Proposes legislative changes to various tax measures
Pursuant to budget control provisions for 2013 and the budget for 2014, the Belgian government has agreed to change certain tax measures during the legislative process. A special contribution of 5% which is known as the “Alternative minimum tax”
See MoreBelgium: Enactment of corporate income tax, individual tax and VAT measures
The Law containing tax and financial measures and measures regarding sustainable development was published on 28 June 2013 in the Belgian Official Gazette. Resident companies and permanent establishments are currently able to deduct 80% of R&D
See MoreUK: VAT deductible in respect of certain payments relating to loyalty cards
The UK Supreme Court reached a decision on 20 June 2013 in respect of CRC (Appellant) v Aimia Coalition Loyalty UK Ltd, formerly known as Loyalty Management UK Ltd (hereafter “Loyalty Management”). The company operated the Nectar loyalty card
See MoreSlovenia: revised budget approved
The Government of the Republic of Slovenia approved the draft revised budget for 2013 on 20 June 2013. The main reason for drafting a revised budget for 2013 was the waning macro-economic forecasts in comparison with the forecasts relevant when the
See MorePoland: Hydrocarbon tax from 2020
Poland’s environment ministry has changed its proposal on hydrocarbon law which is concerns of companies exploring for shale gas. The ministry has selected to push ahead with its plans to create NOKE, a state-controlled company that will take up
See MoreFrance: National Tax Evasion Action Plan of Government
The government of France published national action plan for improving country’s tax transparency. The Action Plan states that France is committed to ensure transparency of the beneficial ownership of companies, other vehicles and trusts, which
See MoreRussia: Elimination of Cyprus from the ‘Black List’
The Ministry of Finance of the Russian Federation has removed Cyprus from the 'Black List' that applies for the purpose of certain tax provisions and it effects from 1 January 2013. Dividends paid from Cyprus companies to Russian companies will be
See MoreECJ gives a preliminary ruling on the place of supply of storage services
RR Donnelly Global Turnkey Solutions Poland supplied services related to the storage of goods to companies located inside and outside the EU. The Polish government considered that the services were liable to VAT in Poland because they were services
See MoreUK: Consultation on community amateur sports clubs
The UK government has published a consultation document in respect of tax relief given to community amateur sports clubs. The current relief gives some tax relief that is similar to the relief given to charities, but policy is being reconsidered in
See MoreHungary: New Decree on Transfer Pricing Documentation Rules
The Hungary’s Ministry of Finance has issued Decree 20/2013 on 18 June 2013. The decree clarified the transfer pricing documentation obligations of Hungary. The Decree 20/2013 is designed to decrease the taxpayers’ administrative burden and to
See MoreFrance: report on tax evasion, transfer pricing
The French Minister of Economy and Finance published an official report on transfer pricing legislation on 5 June 2013. The report concludes that France’s transfer pricing rules are out of step with international counterparts. The French General
See MoreECJ rules on relevance of contractual terms in VAT supply
The European Court of Justice (ECJ) has reached a decision in the case of HMRC v Paul Newey t/a Ocean Finance (C-653/11). This case concerned the relevance of contractual terms to the identification of the supplier and recipient of services for the
See MoreECJ: Advocate General issues opinion on VAT and educational services
A question was referred to the ECJ by the Supreme Court of Poland in respect of VAT on educational services. The Advocate General has now issued an opinion on the case, which is however not binding on the ECJ which will issue its decision at a later
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