Hungary: Economy minister seeks review of global minimum tax
Hungary's National Economy Minister, Márton Nagy, has called for a reassessment of the global minimum tax following the Trump administration's decision to withdraw the US from its commitment to the OECD Global Tax Deal, also known as the two-pillar
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Poland publishes list of qualified jurisdictions for Pillar Two rules
Poland’s Minister of Finance has issued a notice on 7 February 2025 listing jurisdictions that have adopted the qualified income inclusion rule (IIR), qualified for the domestic minimum top-up tax (QDMTT), or meet the criteria to be treated as
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Denmark introduces tax refunds for CO2 capture
Denmark’s minister of taxation has signed a new Executive Order No. 1504/2024 on 10 December 2024, offering tax refunds for CO2 capture and storage facilities. The order aims to simplify the refund process and promote carbon capture
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Ireland updates guidance on automatic exchange of information
Irish Revenue has published eBrief No. 047/25 on 19 February 2025, updating its guidance on the Automatic Exchange of Information (AEOI). Exchange of Information (EOI) is the cross-border sharing of information between tax administrations to
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Ireland updates global minimum tax guidance
The Irish Revenue has released eBrief No. 045/25 on 17 February 2025, introducing updates to Tax and Duty Manual Part 04A-01-02. These revisions focus on the Global Minimum Level of Taxation applicable to Multinational Enterprise Groups and domestic
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Italy: Google settles tax dispute for EUR 326 million, Amazon faces EUR 3 billion VAT evasion penalty
Google has settled a tax dispute with Italy’s tax authorities by paying EUR 326 million for alleged unpaid taxes from 2015 to 2019. The payment includes sanctions, penalties, and interest. Italian prosecutors had investigated Google for not
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Cyprus issues 10-year bond yields for notional interest deduction
The Cyprus Tax Department announced, on 14 February 2025, the issuance of the 10-year government bond yield rates as of 31 December 2024 for various countries related to the Notional Interest Deduction (NID) on equity. These rates will determine
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Netherlands: MoF opens class action over corporate income tax interest
The Netherlands Deputy Minister of Finance has designated four categories of objections on 7 February 2025 as a class action regarding interest charges on overdue taxes. This follows after the tax authorities received about 6,000 objections to
See MorePoland: Senate passes various VAT changesÂ
Poland’s Senate has approved several VAT amendments, including extending the reverse charge mechanism for gas, electricity, and greenhouse gas services and maintaining an 8% reduced VAT rate for certain agricultural goods. Additional VAT
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Netherlands: Inframarginal electricity levy tax due by April 2025
The Dutch Tax and Customs Administration has announced it set the deadline for sending the tax return and payment of the inframarginal electricity levy (IME). The deadline is 1 April 2025. The inframarginal electricity levy (IME) is temporary
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EU: Council reviews list of non-cooperative tax jurisdictionsÂ
The European Economic and Financial Affairs Council, in a meeting on 18 February 2025, confirmed the EU list of non-cooperative jurisdictions for tax purposes without changes. During the meeting, the Council reviewed the EU list of
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EU Council approves new electronic VAT exemption certificate law
The European Commission, in a release on 18 February 2025, announced the Council had adopted a new legislative package introducing an electronic certificate for VAT exemptions, marking a significant step towards simplifying tax procedures and
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Greece issues form, instructions for 2024 corporate tax return
The Greek Public Revenue Authority (AADE) issued Decision No. A. 1020 on 11 February 2025, introducing the form and defining content of the corporate income tax return for the 2024 tax year, along with relevant instructions. The Decision applies
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France gazettes Finance Law 2025
France’s Finance Law 2025 has been published in the Official Gazette, introducing key measures, such as temporary taxes on high-income individuals and large corporations, revisions to the Pillar Two global minimum tax rules, and a new tax on share
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France: Lower House approves amending protocol to tax treaty with Luxembourg
The French lower house of parliament has approved the law to ratify the amending protocol to the 2018 income and capital tax treaty with Luxembourg on 13 February 2025. The protocol, signed on 7 November 2022, raises the time threshold for
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Lithuania: Government approves draft law to implement EU VAT scheme for small businesses
The Government of Lithuania approved the draft Law prepared by the Ministry of Finance on 5 February 2025, which proposes to transpose the new provisions of the European Union (EU) legislation adopted in the field of value added tax (VAT) that are
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Bosnia and Herzegovina mandates tax-exempt financial assistance for employees
Bosnia and Herzegovina published Official Gazette No. 8/25, on 5 February 2025, introducing a new regulation to help reduce the impact of rising inflation on citizens. Employers can now provide up to BAM 450 in monthly financial assistance to
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Poland to consult R&D tax relief under Pillar Two GloBE Rules
The Ministry of Finance announced that it will hold consultations on the direction of modifications to the research and development (R&D) tax relief in the context of the Pillar Two GloBE Rules on 21 February 2025. Registrations for
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