Belgium, Liechtenstein conclude tax treaty negotiations

05 December, 2024

Belgium and Liechtenstein officials have concluded negotiations for a possible income and capital tax treaty on 27 November 2024. If a treaty results from the negotiations, it will be the first between the two countries. Any resulting

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Australia: Treasury consults tax treaty with Portugal

05 December, 2024

Australia’s Department of the Treasury, in a release, announced a public consultation regarding the draft legislation introducing a tax treaty with Portugal on 3 December 2024. The proposed legislation aims to eliminate double taxation and

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Poland extends reduced VAT on agricultural production

05 December, 2024

Poland’s Ministry of Finance released a draft regulation proposing a three-month extension of the reduced 8% value-added tax (VAT) rate on specific goods used in agricultural production. This extension covers agents improving soil properties,

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Italy gazettes decree on VAT scheme for small businesses

05 December, 2024

Italy’s government has gazetted the Legislative decree No. 180/2024 in the Official Journal No. 281, on 30 November 2024, which implements the provisions of the Amending Directive to the VAT Directive (2020/285) and the Amending Directive to the

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San Marino: Parliament approves tax treaty with Lithuania

04 December, 2024

San Marino's parliament ratified the income and capital tax treaty with Lithuania on 25 November 2024. Earlier, Officials from Lithuania and San Marino had finalised an income tax treaty on 17 May, 2024. This agreement, a first between the two

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Hungary scraps several windfall taxes on profits, adjusts and extends others

04 December, 2024

Hungary issued the Government Decree 356/2024 in the Official Gazette on 21 November 2024, amending Government Decree 197/2022 on temporary windfall taxes on additional profits. The Decree also scraps some windfall taxes while modifies and extends

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Slovenia gazettes amendments to Corporate Income Tax Law

04 December, 2024

Slovenia published amendments to the Corporate Income Tax Act (ZDDPO-2U) in the Official Gazette on 26 November 2024. The changes, applicable to tax periods starting 1 January 2025, introduce new rules for corporate taxation. Tax loss

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Ireland clarifies interest deductions for connected party loans

03 December, 2024

Irish Revenue has published a new Tax and Duty Manual – Part 36-00-19 Interest on loans to defray money applied for certain purposes 27 November 2024, providing guidance on section 840A TCA 1997. Section 840A is an anti-avoidance provision

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Romania extends tax amnesty deadline for unpaid taxes

03 December, 2024

Romania has published Emergency Ordinance No. 132 of 21 November 2024 in the Official Gazette, which includes an extension of the payment deadline for the tax amnesty introduced in September 2024, among other provisions. As previously reported,

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OECD: Czech Republic, Hungary, Germany sign agreement to share digital platform income information 

03 December, 2024

The Organisation for Economic Co-operation and Development (OECD) has announced that the Czech Republic, Germany, and Hungary have signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information on Income Earned

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Moldova: Parliament approves tax treaty protocol with Slovak Republic

02 December, 2024

Moldova’s parliament has passed a draft law for ratification of the amending protocol to the 2003 income and capital tax treaty with Moldova on 28 November 2024. The tax treaty between the Slovak Republic and Moldova shall prevent double

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Cyprus confirms CbC exchange effective date with US, filing obligations

02 December, 2024

The Cyprus Tax Department has issued a notice on 19 November 2024, outlining the anticipated effective date for the agreement on exchanging Country-by-Country (CbC) reports with the US as well as related local filing requirements. The Cyprus Tax

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Germany: Fourth Bureaucracy Relief Act updates transfer pricing documentation requirements 

02 December, 2024

The Fourth Bureaucracy Relief Act, which goes into effect on 1 January 2025, brings major updates to transfer pricing documentation requirements in Germany. This latest amendment brings the following changes: Transfer pricing documentation

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France: Prime Minister scraps electricity tax hike

29 November, 2024

French Prime Minister Michel Barnier announced on Thursday, 28 November 2024, that he will be abandoning plans to raise electricity taxes in his 2025 budget, responding to threats from the far-right National Rally (RN). Barnier had aimed to raise

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Finland: Ministry of Finance gazettes MLI application of Azerbaijan-Finland tax treaty

29 November, 2024

The Finnish Ministry of Finance published Statement No. 107/2024 in the official gazette concerning the application of the MLI to the Income and Capital Tax Treaty between Azerbaijan and Finland (2005) on 22 November 2024. The agreement between

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Slovak Republic extends excise duty exemption for small renewable energy producers

29 November, 2024

The Slovak Republic has gazetted a bill which amends the Law on Excise Duty on Electricity, the changes pertain to regulations for small producers of renewable energy. This legislation focuses on extending excise duty exemptions for electricity

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Poland consults updated low-tax jurisdictions list, removes Andorra

29 November, 2024

Poland’s Ministry of Finance has initiated a public consultation on a proposed legislation that identifies countries and territories involved in harmful tax practices, classifying them as low-tax jurisdictions. The bill proposes to remove

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Moldova ratifies amending protocol to tax treaty with Luxembourg

28 November, 2024

Moldova issued Decree No. 1653 on 20 November 2024, which was published in the Official Gazette on 26 November 2024, enacting the law to ratify the amending protocol to the 2007 income and capital tax treaty with Luxembourg. Earlier, the protocol

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