Belgium extends deadline for 2025 VAT recovery submissions
Belgium’s tax authorities announced an extended deadline for submitting 2024 financial year data for taxpayers subject to VAT recovery restrictions on 4 April 2025. The deadline was extended to accommodate the summer holiday period. As such,
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Germany: Ministry of Finance clarifies application of CbC reporting for transparent partnerships
Germany’s Federal Ministry of Finance published a letter on 3 April 2025 addressing how Country-by-Country (CbC) reporting applies to tax-transparent partnerships, including their treatment under the Transitional CbCR Safe Harbour for Pillar
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Slovak Republic: Parliament rejects reopening financial transaction tax debate
The Slovak Republic’s parliamentary speaker has rejected discussion of the draft bill proposing to abolish the financial transaction tax, citing its violation of the Procedure Act rules. Earlier, the parliament passed a second amendment to the
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Bulgaria reduces VAT registration threshold starting 1 April 2025
Bulgaria’s National Revenue Agency (NRA) issued guidance on 31 March 2025 regarding revisions to the VAT registration threshold, which will take effect on 1 April 2025. The threshold is reduced from BGN 166,000 to BGN 100,000 . From 1 April
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Portugal approves tax simplification Law to cut compliance costs
Portugal's government has approved Decree-Law no. 49/2025, introducing several tax simplification measures to boost economic competitiveness. These measures focus on reducing compliance costs, improving transparency, and refining tax justice
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France publishes Q1 2025 floating rate for shareholder loans
France’s Official Journal published the Q1 2025 average floating rate for bank loans with maturities over two years, set at 4.92% on 28 March 2025. This rate is used to determine the maximum deductible interest rate on loans from direct
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Spain: Catalonia announces changes to property transfer tax and stamp duty
Spain’s Catalan government passed Decree-Law 5/2025 on 25 March 2025. The Decree was later published in the Official Gazette on 26 March 2025. This Decree-Law adopted various measures regarding taxes, personnel expenses, and other
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Slovak Republic updates VAT return form template
The Slovak Republic’s Ministry of Finance presented an updated VAT return form and template on 21 March 2025. The updates align with the legislative changes to VAT law, which go into effect on 1 July 2025. Changes to VAT law will activate the
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Ireland extends 9% VAT rate on gas and electricity until 31 October 2025
Irish Minister for Climate, Environment and Energy Minister Darragh O'Brien has welcomed the government decision to extend the 9% VAT rate currently applied to gas and electricity by a further six months – to 31 October. The 9% VAT rate had been
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Greece proposes tax incentives to boost capital market and innovation in 2025
The Greek Ministry of Finance has proposed legislation offering tax incentives to bolster the capital market, featuring an increased deduction for listing costs of small and medium enterprises and an expanded angel investor tax relief for
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Germany mandates transaction matrix transfer pricing documentation requirement
Germany’s Ministry of Finance released a decree outlining the requirements for the “transaction matrix,” a new component of transfer pricing documentation under section 90(3) of the Fiscal Code (AO) on 2 April 2024. The transaction matrix
See MoreSlovak Republic limits input VAT deduction to 50% on motor vehicles and motorcycles
The Slovak Republic Ministry of Finance has announced that businesses can only claim a 50% VAT deduction on passenger vehicles, fuel, repairs, and maintenance, effective 1 July 2025. This will raise acquisition and operating costs by over
See MorePortugal adopts EU small business scheme for cross-border trade
Portugal has published Decree-Law No. 35/2025 of 24 March 2025 in the Official Gazette, introducing measures to align with EU VAT law for small businesses. The Decree includes the EU small business scheme for cross-border supplies under Council
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Lithuania to tax sugary beverages
The Lithuanian government has put forward a draft law to introduce a new tax on sugary drinks. This would apply to liquid food products intended for consumption that contain at least 5 grams of sugar, sweeteners, or a combination of both per 100
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Cyprus offers VAT exemption to rental property owners
Cyprus’ Commissioner of Taxation published Circular 2/2025 on 24 March 2025, outlining guidelines for rental property owners who haven't opted to exempt their property from VAT. The circular is valid until 31 December 2025. In Cyprus, renting
See MoreSpain gazettes Pillar Two global minimum tax rules
Spain has issued Royal Decree 252/2025 of 1 April 2025 in the Official Gazette, introducing Complementary Tax Regulations to ensure a global minimum tax for large multinationals and national groups. The regulations clarify Law No. 7/2024 of 20
See MoreIreland: Department of Finance consults R&D tax credit, potential measures to foster innovation
Ireland's Department of Finance has initiated a public consultation regarding the R&D tax credit and potential measures to foster innovation. A tax credit regime for Research and Development (R&D) was introduced in Ireland in Finance Act
See MoreBulgaria adopts 2025 Budget Act with tax reforms
Bulgaria published its 2025 State Budget Act on 27 March 2025, introducing several key updates. The Act aligns the country’s Pillar 2 global minimum tax laws with OECD guidelines from 2023 and 2024, including rules on tax carryforwards,
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