Cyprus further extends deadlines for 2022 tax returns, transaction reports
The Cyprus Tax Department announced, on 12 February 2025, that it has further extended deadlines for submitting the annual company income tax return and the summary information table (SIT) on controlled transactions for the 2022 tax year. The
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France updates interest rate caps for shareholder loan deductions for FY ending between December 24 and March 25
The French tax authority has published new interest rates for determining the deductibility of interest payments to shareholders on 12 February 2025. The fiscal year-end period and the corresponding applicable rates are as follows: Fiscal
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Sweden consults tax changes for 2026 Autumn Budget
Sweden’s Ministry of Finance has released several tax proposals for public consultation as part of preparations for the 2026 autumn budget on 10 February 2025. These proposals, which cover key sectors like agriculture, energy, and metallurgy,
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Czech Republic gazettes tax break extension for Ukraine donations
The Czech Republic has published Law 24/2025 in the Official Gazette on 10 February 2025, a legislation that extends the enhanced tax deduction for donations sent to Ukraine. Under Law 24/2025, individuals and corporations can deduct up to 30% of
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EU Parliament approves digital age VAT package
The European Parliament has approved the VAT in the Digital Age (ViDA) Package on 12 February 2025. This update aims to modernise the EU's VAT system, fight VAT fraud, and simplify administrative tasks for small businesses and service
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Greece: PM unveils bill to boost capital market, regulate cryptocurrencies
Greece’s Prime Minister Kyriakos Mitsotakis announced a new bill to support the capital market and regulate the growing cryptocurrency sector on 10 January 2025. The proposed legislation focuses on encouraging companies to list on the stock
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Netherlands: MoF seeks alternatives to cover budget gap after scrapped vat hike on media, culture, and sports
The Netherlands Ministry of Finance issued a letter to the parliament outlining alternative measures to address the budget shortfall caused by cancelling the proposed VAT increase on media, culture, and sports from 9% to 21%. The VAT increase
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Lithuania: Parliament to discuss reduced VAT rate for food and catering in spring session
Prime Minister Gintautas Paluckas announced that the Lithuanian Parliament will consider introducing a reduced VAT rate for food products and public catering establishments in the spring session. Though he has not pledged his support, he recognized
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Lithuania updates corporate and dividend tax rates for 2025
Lithuania's State Tax Inspectorate has announced changes to tax rates that will take effect on 1 January 2025. The corporate income tax rate will increase to 16%. Small companies, defined as those with fewer than 10 employees and annual income not
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France: Tax Authority clarify foreign tax credit rules
The French tax authority issued a ruling addressing the availability of foreign tax credits (FTCs) in cases where foreign withholding taxes conflict with the provisions of a relevant tax treaty on 18 December 2024. Under French law, FTCs are only
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Greece expands debt relief and VAT policies amid economic reforms
The Greek Ministry of National Economy and Finance announced changes to its debt relief framework, aiming to provide stronger protection for thousands of borrowers. The initiatives announced on 5 February 2025 expand the scope of the
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Lithuania considers raising VAT registration threshold to new level
Lithuania's parliament is considering a proposal to raise the VAT registration threshold from EUR 45,000 to EUR 60,000. Under the new rule, businesses in Lithuania would only need to register for VAT if their annual turnover surpasses EUR 60,000.
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France raises financial transactions tax
France has raised the financial transactions tax rate from 0.3% to 0.4%, introduced in the French Finance Law for 2025 which was passed by parliament on 6 February 2025. The higher rate will apply to acquisitions made from the first day of the
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Luxembourg issues 2024 exchange rates for foreign currencies
The Luxembourg Administration of Direct Tax has released Circular L.G. - A n° 60bis/10 of 17 January 2025, detailing the reference EUR exchange rates for 30 foreign currencies for 2024. This announcement was made by the Government of Luxemburg
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Slovenia, Saudi Arabia discuss bilateral relations and income tax treaty
Officials from Slovenia's Ministry of Finance and Saudi Arabia met to discuss bilateral relations, including the ongoing negotiations for an income tax treaty on 16 January 2025. This announcement was made by the Ministry of Finance on 17 January
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Sweden proposes property tax increase on wind turbines from 2026
The Swedish Government has announced a proposal to raise the property tax on wind turbines. This announcement was made by the Swedish Government on 2 January 2025. The legislative amendment is proposed to take effect on 1 January
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Lithuania: VMI clarifies EU VAT scheme for small businesses
The Lithuanian State Tax Inspectorate (VMI) announced the publication of guidelines on how to become users of small business schemes for VAT exemptions in other EU member states on 21 January 2025. The rules are accessible through the VMI
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Lithuania moves to terminate 1995 tax treaty with Belarus
Lithuania issued Law No. XV-103 in the Official Gazette on 22 January 2025. Earlier, the Lithuanian government approved a draft law to terminate the 1995 tax treaty with Belarus on 13 November 2024. This decision comes after Belarus suspended
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