Finland: Ministry of Finance gazettes MLI application of Azerbaijan-Finland tax treaty
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
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
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
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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Luxembourg: Chamber of Deputies approve income and capital tax treaty with Montenegro
Luxembourg's Chamber of Deputies approved the draft law to ratify the income and capital tax treaty with Montenegro on 21 November 2024. Earlier, Luxembourg’s Council of State approved the draft law for the ratification of the income and
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Slovak Republic consults DAC8 implementation bill
The Slovak Republic’s Ministry of Finance has launched a public consultation on the draft bill No. LP/2024/645 on 25 November 2024. This proposed amendment to the Act on the Automatic Exchange of Information on Financial Accounts for Tax
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European Commission clarifies VAT rules for small business scheme
The European Commission has released its Explanatory Notes detailing the upcoming changes to the EU VAT system concerning the special scheme for small enterprises. These changes stem from amendments made by the Amending Directive to the VAT
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Austria, China amending protocol to tax treaty enters into force
The amendment to the 1991 tax treaty between Austria and China came into force on 19 November 2024. The protocol, signed on 14 September 2023, introduces several updates to modernise the agreement and align it with global tax standards. The
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IMF urges Malta to align fiscal and tax policies with EU’s global minimum tax directive
The International Monetary Fund (IMF) has called on the Maltese government to develop a clear plan aligned with the European Union's Pillar Two Global Minimum Tax Directive, providing taxpayers with certainty and guidance. According to the
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Bosnia and Herzegovina updates transfer pricing rules
The Ministry of Finance of the Federation of Bosnia and Herzegovina (FBiH) has announced amendments to the Transfer Pricing Rulebook regarding Master File and Country-by-Country (CbC) reporting requirements. These changes were published in the
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Denmark consults draft bill for crypto-asset reporting
The Danish Ministry of Taxation has opened a public consultation on a draft bill to implement Council Directive (EU) 2023/2226 (DAC8) and the Crypto-Asset Reporting Framework (CARF). The consultation is set to conclude on 13 December 2024. The
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Poland announces 2025 investment incentives, thresholds for reduced corporate tax and VAT
Poland has announced new thresholds for various tax regimes for small taxpayers in 2025. These include a reduced corporate tax rate, an investment incentive deduction, a simplified VAT regime, and a flat-rate tax. The new thresholds for reduced
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European Commission applauds Greece’s pledge to align tonnage tax with state aid rules
The European Commission in a release on 25 November 2024 announced that the acceptance by Greece of the appropriate measures proposed by the Commission to bring the existing Greek tonnage tax scheme and related measures in line with State aid
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Luxembourg: Chamber of Deputies approves income and capital tax treaty with Albania
Luxembourg's Chamber of Deputies has given its approval for the ratification of the income and capital tax treaty with Albania on 21 November 2024. Earlier, Luxembourg’s Council of State approved a draft law to ratify the income and capital tax
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Lithuania ratifies tax treaty with Andorra
Lithuania published Law No. XIV-3099 of 11 May 2023 in the Official Gazette on 20 November 2024 which pertains to the ratification of the income and capital tax treaty with Andorra. Earlier, Lithuania’s parliament (Seimas) approved the
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Spain: Parliament extends windfall tax on banks, reintroduces loss restrictions
The Spanish lower house of parliament (Congress of Deputies) approved a new fiscal package that includes a three-year extension of the windfall tax on banks on 21 November 2024. The tax, previously set at a flat rate of 4.8%, will now follow a
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Ireland gazettes Finance Act 2024
Ireland has published the Finance Act 2024 (Act No. 43 of 2024) in the Official Gazette. This legislation was enacted on 12 November 2024 and includes provisions introduced in the Budget 2025 along with various administrative and technical
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Liechtenstein seeks to establish income tax treaty with Slovak Republic
The Liechtenstein government has announced, on 20 November 2024, that officials from Liechtenstein and Slovak Republic convened to discuss economic relations, which included Liechtenstein's interest in establishing an income tax
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