Italy: Finance department clarifies general anti-avoidance rule
Italy’s finance department has issued guidelines on applying the general anti-avoidance rule (GAAR) under article 10-bis of Law No. 212 of 27 July 2000 on 27 February 2025. The document outlines the abuse of law doctrine and examines the key
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Slovenia ratifies multilateral exchange agreement on CRS avoidance and opaque offshore structures
Slovenia has published the regulation for the ratification of the Multilateral Exchange Agreement on CRS avoidance arrangements and opaque offshore structures in the official Gazette on 28 February 2025. The agreement will facilitate the annual
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Greece launches public consultation on capital market strengthening bill
The Greece Ministry of National Economy and Finance has opened a public consultation on a Bill titled "Strengthening the capital market" on Thursday, 27 February 2025 , which proposes new tax incentives aimed at supporting small and medium
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Finland drops plan to raise VAT on chocolates and candies
Finland's Ministry of Finance has announced that it will not move forward with the planned increase in the VAT rate on chocolates and candies from 14% to 25.5% on 1 June 2025. In addition, the Ministry is preparing a legislative amendment to
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France postpones cut in VAT exemption threshold until June 2025
The French Ministry of Economy and Finance has announced that from 1 June 2025, a standard VAT exemption threshold of EUR 25,000 in turnover will apply to all businesses, replacing the current EUR 27,500 threshold. Sector-specific thresholds for
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Ireland introduces angel investor tax relief to boost start-ups
Irish Finance Minister Paschal Donohoe has announced the launch of Angel Investor Relief, a new tax incentive aimed at driving investment in Ireland’s innovative start-ups on 3 March 2025. The relief offers a reduced Capital Gains Tax (CGT) rate
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Serbia adopts rulebook on arm’s length interest rates for 2025
Serbia’s Ministry of Finance has issued the Rulebook on arm’s length interest rates for 2025, which was published in the Official Gazette of Serbia No. 17/2025 on 28 February 2025. The rulebook establishes specific interest rates for both
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Spain issues resolution on VAT rates for bread
The Spanish Directorate General of Taxes issued a resolution (BOE-A-2025-3950) regarding the VAT rates applied to bread on 24 February 2025. The resolution, which was published in the Official Gazette on 27 February 2025, clarifies the VAT
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Netherlands revises definition of exempt investment institutions
The Netherlands’ government issued guidance on changes to the definition of exempt investment institutions (VBI) on 17 January 2025. The guidance outlines tax exemptions and obligations concerning VBIs. It also highlights new rules restricting the
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Netherlands expands property transfer tax exemption to real estate firm acquisitions
The Netherlands Finance Secretary announced a new property transfer tax decree, effective 24 January 2025. This Decree extends tax exemptions for business succession, including acquiring 100% of shares in real estate companies, indirect
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Lithuania plans further CIT rate hike
Lithuania is planning to further increase the corporate income tax rate (CIT), which could rise to 17%–18% from 16%. "The corporate tax could certainly be increased by one or even two percentage points. This would not reduce our business
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Cyprus: Tax Reform Team announces tax reforms
The Cyprus Tax Reform Team presented its tax proposals to key stakeholders at the Presidential Palace on 26 February 2025. The proposals will soon be open for public consultation before being submitted to the Council of Ministers for approval and
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EU: ECOFIN releases provisional agenda for March 2025 meeting
The EU’s Economic and Financial Affairs Council (ECOFIN) has released the provisional agenda for its upcoming meeting, scheduled for 11 March 2025. As outlined in the provisional agenda, the initial portion of the meeting will focus on
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Denmark reviews draft bill on crypto-asset reporting
Denmark's parliament is reviewing draft bill L 151, submitted on 26 February 2025, to implement the EU's DAC8 directive. The bill introduces new reporting and due diligence requirements for crypto-asset service providers, aligning with the
See MoreItaly publishes global minimum tax notification, withholding tax return form
Italy's Ministry of Finance released the withholding tax return form ‘Modello 770/2025’ and its instructions for fiscal year 2024 on 24 February 2025. The form was approved under Protocol No. 75896/2025. Eligible withholding agents and
See MoreEU Commission to recommend tax incentives for clean-tech sector
The European Commission (EC) released the "Communication on a Clean Industrial Deal" on 26 February 2025, confirming the EU’s climate goals by offering clear business incentives for industry to decarbonise within Europe. The focus will be
See MoreLithuania: Parliament proposes phased increase in VAT registration threshold
Lithuania’s parliament (Seimas) has recently proposed an alternative draft bill for the phased increase in the value-added tax (VAT) registration threshold, which would take effect on 23 February 2025. The current threshold of EUR 45,000 would
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Brazil and Portugal push to finalise tax treaty revision
Brazil’s Ministry of Foreign Affairs has released a joint statement reaffirming Brazil and Portugal's commitment to revising the 2000 Brazil-Portugal Income Tax Treaty on 19 February 2025. This declaration was made during the XIV Brazil-Portugal
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