Portugal announces 2024 FY municipal surcharge rates for corporations
The Portuguese Tax Authority has issued Circular Letter No. 20273/2025 on 22 January 2025, outlining the municipal surcharge rates for corporate tax in fiscal year 2024. The circular introduces several key provisions, including: Lower
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Hungary delays mandatory e-invoicing for energy sector to July 2025
Hungary’s government has amended Government Decree 273/2007 (X. 19.) and Government Decree 19/2009 (I. 30.), which delays the e-invoicing requirement for electricity and gas supplied to nonresidential customers. Electronic invoicing
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Netherlands advances with controversial savings, investment income tax reforms
The Netherlands Ministry of Finance has issued Letter No. 2025-0000021906 on 24 January 2025, informing both houses of parliament of its decision to move forward with a proposed overhaul of the taxation regime for savings and investment income,
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Slovak Republic: Parliament considers corporate tax rate cuts, extension of loss carryforward period
The Slovak Parliament is reviewing proposed bills to lower corporate tax rates and extension of the loss carryforward limit in the country. One of the draft bills advocate reducing the corporate tax rate to 16% from the standard rate of 21% and
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Germany: Local packaging tax upheld in Tübingen
Germany's Federal Constitutional Court rejected a constitutional complaint against Tübingen’s local packaging tax on 22 January 2025. Since 1 January 2022, Tübingen has imposed a tax on non-reusable packaging, dishware, and cutlery used for
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Italy ratifies tax treaty with Libya
Italy published Law No. 2 of 16 January 2025 in its Official Gazette on 24 January 2025, ratifying the income tax treaty with Libya. This follows after Italy’s Chamber of Deputies approved the law ratifying the income tax treaty with Libya on 8
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Andorra: Parliament approves tax treaty with Romania
Andorra’s General Council (parliament) approved the ratification of the income and capital tax treaty with Romania on 23 January 2025. The treaty set withholding tax rates for dividends at 0% to 5%, interest at 3%, and royalties at 5%. The
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Slovak Republic: Parliament considers restoring 20% VAT rate
The Slovak Parliament is reviewing four proposed amendments to the VAT Act. The first bill expands the 5% reduced VAT rate to include certain mixes and doughs for baked goods. The second bill extends the 5% rate to menstrual hygiene products like
See MoreItaly announces qualified jurisdictions for supplementary, national minimum tax
Italy’s Ministry of Economy and Finance has published a list of jurisdictions, on 23 January 2024, that have enacted supplementary minimum tax and national minimum tax laws. These jurisdictions have obtained the transitional “qualified” status
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French updates notification form for CbC reporting, Pillar Two global minimum tax
The French tax authorities introduced a Form n°2065-INT-SD intended for entities subject to the French Pillar Two law on 24 January 2025. The form was previously used to submit the Country-by-Country (CbC) reporting notification alongside the
See MoreHungary to negotiate new tax treaty with US
Hungary’s Prime Minister Viktor Orbán has authorised negotiations for a new income tax treaty with the US. The new tax treaty between the two nations is aimed at avoiding and preventing double taxation in the field of income taxes. In July
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Andorra: Parliament approves tax treaty with Latvia
Andorra's General Council has approved the ratification of the income and capital tax treaty with Latvia on 23 January 2025. Earlier, Latvia has published the law approving the ratification of a new income and capital tax treaty with Andorra on
See MoreSlovak Republic: Parliament approves bill revising motor vehicle taxes
The Slovak Republic’s Parliament has passed a legislation amending the motor vehicle tax law on 27 November 2024. The changes include reduced annual tax rates for vehicles exceeding 3.5 tons and a unified approach to adjusting tax rates based
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Croatia, Liechtenstein sign income tax treaty
The Liechtenstein government has announced the signing of an income tax treaty with Croatia on 22 January 2025. The agreement aims to eliminate double taxation between the two countries. The treaty adheres to standards set by the OECD and
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Belarus suspends tax treaty with Germany
Belarus Ministry of Taxes and Duties, in a notice, confirmed that it has suspended the 2005 tax treaty between Belarus and Germany, effective from 1 January 2025. This follows after Germany’s Federal Government notified Belarus, on 30 December
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Ukraine raises key interest rate to 14.5%
The National Bank of Ukraine has announced, on 23 January 2025, to raise the key policy rate from 13.5% to 14.5%, effective 24 January 2025. This decision is aimed at maintaining the stability of the foreign exchange market, keeping inflation
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Slovenia adopts public CbC reporting
Slovenia has published a decree to implement the EU public country-by-country (CbC) reporting under Directive (EU) 2021/2101 into its domestic legislation on December 2024. Under the decree, public CbC reports must be translated into Slovenian.
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Italy gazettes law introducing new VAT reverse charge for logistics
The Italian Budget Law for 2025 (Law No. 207 of 30 December 2024) was published in the Official Gazette on 31 December 2024 which introduces a new value added tax (VAT) reverse charge mechanism specifically for transport, handling, and logistics
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