Andorra, Lithuania income tax treaty enters into force
The income tax treaty between Andorra and Lithuania entered into force on 24 December 2024. This agreement aims to eliminate double taxation on income and capital, fostering closer cooperation between the tax administrations of both countries to
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Denmark gazettes law amending VAT Act, exempts taxation of services provided by authors and artists
Denmark’s Official Gazette published Law No. 1695 on 30 December 2024 which amends the country's Value Added Tax (VAT) Act to address the taxation of services provided by authors and artists, including performing artists, related to their
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Lithuania considers reduced VAT on essential foods, services
The Lithuanian Parliament (Seimas) accepted for consideration Draft Bill No. XVP-90 which aims to introduce a reduced 9% VAT rate on essential food products on 30 December 2024. The proposed bill also includes a measure to extend the lower VAT
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Netherlands consults airline tax reform
The Netherlands government is seeking public feedback on proposed reforms to the airline tax which aims to adjust rates based on flight distance. The government wants to increase the total revenue from the flight tax by EUR 248 million by 2027.
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Portugal updates property transfer tax rates for 2025
Portugal's tax authority has introduced new tables for the calculation of progressive property transfer tax (IMT) on 10Â January 2025.This new tax rate is effective from 1 January 2025. These updated tables apply to property acquisitions
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Romania, Malta ratify protocol to tax treaty
Romania’s President Klaus Iohannis has signed into law the ratification of the protocol to the 1995 Romania-Malta income tax treaty on 9 January 2024. This follows after the protocol was approved by Romania's Chamber of Deputies on 18 November
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Czech Republic posts CAA text for CbC reporting with the US
The Czech Republic’s Ministry of Finance has published the text of a Competent Authority Agreement (CAA) concerning the exchange of country-by-country (CbC) reports with the United States on 9 January 2025. This agreement between the two
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Slovak Republic tax authority introduces prefilled 2024 vehicle tax returns for certain taxpayers
The Slovak Republic’s tax authority has released a detailed document announcing the launch of a new service to prefill motor vehicle tax returns for 2024. The service is for taxpayers who use the tax authority's electronic mailbox and have
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Czech Republic: Ministry of Finance clarifies DAC7 information exchangeÂ
The Czech Republic’s Minister of Finance has signed a declaration on the application of the Multilateral Agreement of Competent Authorities on the implementation of the automatic exchange of information notified by platform operators (DPI MCAA) on
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Italy: Chamber of Deputies approve tax treaty with Libya
The Italian Chamber of Deputies approved the law ratifying the income tax treaty with Libya on 8 January 2025. This follows after Italy’s Senate ratified the pending income tax treaty with Libya on 11 September 2024. Signed on 10 June 2009, it
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Netherlands, Andorra income tax treaty enters into force
The income and capital tax treaty between the Netherlands and Andorra came into force starting 31 December 2024. The treaty covers Andorran corporate income tax, personal income tax, non-resident income tax, and capital gains tax on property
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US, France announce spontaneous exchange of CbC reports for 2024-2025
The US Internal Revenue Service (IRS) in collaboration with France's competent authority, has issued a joint statement outlining plans for the spontaneous exchange of country-by-country (CbC) reports. This initiative will apply to fiscal years
See MoreItaly approves VAT return form for 2025 filing
Italy’s Revenue Agency has approved the Annual VAT Return Form for the 2025 filing period, covering the 2024 tax year on 15 January 2025. A Basic Annual VAT Return Form is now available for qualifying taxpayers. Both annual return forms must be
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EU Tax Observatory issues publishes paper on global minimum tax, profit shiftingÂ
The EU Tax Observatory has released a working paper titled Global Minimum Tax and Profit Shifting in October 2024 offering an in-depth analysis of tax data from the Slovak Republic. The findings suggest that the Pillar Two global minimum tax could
See MorePortugal introduces tax incentive for research and innovation
Portugal has published Ordinance No. 352/2024/1 23 December 2024, which regulates the tax incentive for scientific research and innovation (IFICI) included in the 2024 Budget Law. The Ordinance entered into force on 24 December 2024. The
See MoreRomania: Senate approves amending protocol to tax treaty with Malta
The Romanian Senate has approved Draft Law No. L611/2024, ratifying the amending protocol to the 1995 Malta-Romania Income Tax Treaty on 16 December 2024. The protocol has been submitted to the President for approval and promulgation. The
See MoreItaly outlines state budget for 2025, lowers corporate tax for reinvestmentÂ
Italy has enacted Law No. 207 of 30 December 2024, outlining the 2025 State Budget along with the multi-year financial plan for 2025-2027. The law was published in the Official Gazette on 31 December 2024 and took effect on 1 January 2025. The
See MoreSlovak Republic publishes guidance on VAT rate reduction for accommodation services
The Slovak Republic’s Financial Administration has released guidance detailing changes to the reduced VAT rate for accommodation services, which took effect on 1 January 2025. The guidance outlines how the new rate applies to advance payments,
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