Lithuania: Seimas moves one step closer to tax reform
On 27 June 2023, the Lithuanian parliament (Seimas) gave its preliminary confirmation, to a tax reform package proposed by the finance minister. The reform measures include: Proposed changes to the tax framework encompass various aspects of
See More
France issues decree on temporary solidarity contribution for electricity producers
France has issued a decree outlining the guidelines for declaring and remitting the temporary solidarity contribution within the electricity production sector. The contribution is levied on electricity producers in France, with certain exceptions,
See More
Luxembourg: Tax Authority updates FAQs on DAC6
On 30 June 2023, the Luxembourg Tax Authority updated the frequently asked questions (FAQs) concerning the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The latest update clarifies the following measures:
See More
Germany passes law for public Country-by-Country reporting
On 21 June 2023, Germany released the Law introducing Public Country-by-Country (CbC) reporting. This legislation is in accordance with Directive (EU) 2021/2101 and is applicable to multinational and high-revenue companies, whether related or
See More
Lithuania: Tax Authority clarifies calculations of temporary solidarity contribution to credit Institutions
On 30 June 2023, the tax Authority of Lithuania issued a supplementary clarification “on the calculation of the temporary solidarity contribution" and additionally provides an explanation regarding the law on the temporary solidarity
See More
Denmark initiates public consultation process for draft bill on implementing pillar two global minimum tax
On 23 June 2023, the Danish Ministry of Taxation introduced a draft bill for public review, with the objective of incorporating the EU minimum tax directive. The implementation process of the directive adheres to the guidelines set forth by the
See More
Lithuania: CbC reporting directive converted into domestic law
On 15 June 2023, Lithuania has published a law which transposed the EU public CbC reporting directive into domestic law. This requirement is applicable to companies and groups engaged in business activities across a minimum of two jurisdictions,
See More
Greece implements timelines and guidelines for exchange of tax information requests
On 21 June 2023, Greece has issued a circular outlining a comprehensive framework for the exchange of information, streamlining the process and setting specific timelines. The circular encompasses various mechanisms, including bilateral tax
See More
Germany: BMF issues updated transfer pricing guidelines
On 6 June 2023, the German Federal Ministry of Finance (BMF) has published updated transfer pricing administrative guidelines. The guidelines focus on two main areas: The application of the arm's length principle in accordance with the OECD
See More
France : Tax Authority issues updated guidelines on scope of digital services tax
On 21 June 2023, the French tax authority issued updated guidelines clarifying the scope of the digital services tax (DST). The guidelines, reflected in administrative documents BOI-TCA-TSN-10-10-10 and BOI-TCA-TSN-10-10-20, are in response to the
See More
France endorses public CbC reporting law
On 21 June 2023, France officially released Ordinance No. 2023-483, which mandates the public disclosure of CbC (Country-by-Country) reporting information. The ordinance was officially released in the French Official Journal. As per the European
See More
Denmark: DTA extends filing deadlines for corporate tax returns and transfer pricing documentation
On 21 June 2023, the Danish Tax Agency (DTA) declared an extension of the deadline for submitting annual corporate income tax returns. The original deadline of 30 June 2023, has been postponed by eight weeks to 25 August 2023. The extension is a
See More
Malta: CFR issued guidelines on the reporting obligations of DAC7
On 23 June 2023, the Maltese Commissioner for Revenue (CFR) published a set of guidelines in relation to the reporting obligations of Digital Platform Operators (DAC7). The DAC7 requirements come into effect on 1 January 2023 into Maltese domestic
See More
Ireland: Government to introduce temporary solidarity contribution to fossil fuel sector
On 23 June 2023, the Minister for the Environment, Climate and Communications, Mr. Eamon Ryan, announced the publication of the Energy (Windfall Gains in the Energy Sector) (Temporary Solidarity Contribution) Bill 2023. This Bill provides for a
See More
Ireland implements public country-by-country reporting directive
On 22 June 2023, the Irish Minister for Enterprise, Trade and Employment signed the European Union (Disclosure of income tax information by certain undertakings and branches) Regulations 2023 regarding the implementation of public country-by-country
See More
Estonia: Parliament approves law to increase income tax rates
On 19 June 2023, the Estonian Parliament approved Income Tax Act and Defense Service Act Amendment Act 148 SE which increases both the personal income tax and corporate income tax rates by 2 percentage points to reach 22% from 20%. Also, the income
See More
Luxembourg clarifies registration and declaration requirements for platform operators under DAC7
On 12 June 2023, the Luxembourg Tax Authority clarified registration and declaration requirements for platform operators for the exchange of information on income generated through digital platforms (DAC7). Platform operators must register with
See More
Slovenia adapts tax procedures Act to implement DAC7 regulations
Slovenia has recently introduced amendments to its tax procedures Act in order to implement the provisions of DAC7 (Council Directive EU/2021/514). This directive, adopted on 22 March 2021, seeks to enhance the exchange of information regarding
See More