Kyrgyzstan: Parliament approves ratification of tax treaty with Slovak Republic
The parliament of Kyrgyzstan approved the bill ratifying its income tax treaty with the Slovak Republic on 23 October 2024. Earlier, The Slovak Republic had ratified the 2024 Kyrgyzstan—Slovak Republic Income Tax Treaty on 2 October 2024
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Netherlands consults draft bill on implementation of DAC8 rules
The Netherlands Ministry of Finance has initiated a public consultation on a draft bill regarding the implementation of the Amending Directive to the 2011 Directive on Administrative Cooperation (2023/2226) (DAC8). The consultation will commence
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Luxembourg introduces updated online filing procedures for fund subscription tax returns
The Luxembourg Registration Duties, Estates and VAT Authority launched new online procedures N° 821 for submitting subscription tax returns for Undertakings for Collective Investment (UCI), Specialised Investment Funds (SIF), and Reserved
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European Commission adopts DAC9 proposal to ease company filing under Pillar Two Directive
The European Commission has announced it adopted a proposal to amend the Directive on administrative cooperation in the field of taxation (Directive 2011/16/EU – DAC) on 28 October 2024. The goal is to make it easier for companies to fulfil
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Sweden moves to suspend income tax treaty with Russia
The Swedish government has presented a bill, the Repeal Act, to the Parliament with the intention to annul Act (1993:1301) concerning the Income and Capital Tax Treaty between Russia and Sweden on 24 October 2024. Earlier, Russia suspended
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Croatia: EU Council to authorise extending Croatia’s 50% VAT deduction on passenger car purchases
The General Secretariat of the Council of the European Union has requested the Permanent Representatives Committee to encourage the Council to adopt a Proposal for a Council Implementing Decision on 24 October 2024. This Proposal seeks to
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European Commission approves Danish State Aid for greenhouse gas tax cuts
The European Commission announced it approved, under EU State aid rules, a EUR 724 million (DKK 5.4 billion) Danish scheme to lower the rate of new greenhouse gas (GHG) emissions tax for certain companies. The scheme offers a reduced tax rate for
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European Union publishes minutes of VAT Expert Group’s 36th meeting
The European Commission released the minutes of the 36th meeting of the VAT Expert Group (VEG) on 14 October 2024. The VEG held its 36th meeting on 6 June 2024, According to the minutes, the following points were addressed: VAT after VAT in
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Portugal proposes several VAT measures in draft state budget law 2025
Portugal released the state budget law for 2025 (Law No. 26/XVI/1) on 10 October 2024, proposing various VAT measures. The draft Budget Law for 2025 proposes reduced corporate tax rates for companies and SMEs and revised personal income tax rates,
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Austria: Appointment of alternative Pillar Two taxpayer due by December
The appointment of an alternative Pillar Two taxpayer in Austria, for taxpayers operating on a calendar year basis, is required to be submitted to the relevant tax office by 31 December 2024. Evidence of this appointment must be uploaded to
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Germany publishes final guidance on mandatory e-invoicing
The German Ministry of Finance has published the final guidance on mandatory e-invoicing on 15 October 2024. The principles of the guidance are to be applied to all sales made after 31 December 2024. As established by the Growth Opportunities
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Latvia updates list of tax havens, removes Antigua and Barbuda
Latvia announced an updated list of low-tax and tax-free jurisdictions in the Official Gazette on 23 October 2024. This list, derived from the latest EU list of non-cooperative jurisdictions, notes the removal of Antigua and Barbuda, effective 1
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France proposes digital services tax rate increase
France’s National Assembly members have proposed on 17 October 2024 to increase the digital services tax rate from the current 3% to 5% in the Finance Bill 2025. The proposed digital services tax rate increase is expected to generate EUR 500
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Italy gazettes decree on Pillar Two substance-based income exclusion
Italy published the Decree of 11 October 2024 in the Official Gazette on 23 October 2024, which addresses reducing the taxable base relevant to the global minimum tax. Earlier, Italy’s Ministry of Economy and Finance announced the Decree of 11
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IMF and World Bank Annual Meetings: Regional Economic Outlook – Europe
On 23 October 2024 the IMF launched the latest issue of the Regional Economic Outlook for Europe. Europe’s economic recovery is continuing after a strong response to the recent crises. However, the recovery is falling short of Europe’s full
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Montenegro, Germany initiate tax treaty negotiations
First round of discussions regarding an income and capital tax treaty between Germany and Montenegro concluded in Podgorica from 7 to 11 October 2024. The announcement was made by the government of Montenegro on 14 October 2024. If an
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France: Finance Committee approves amendment on tax residency for citizens residing abroad
The Finance Committee of the French National Assembly has approved an amendment to the 2025 Finance Bill that changes tax residency rules for individuals. This amendment introduces a "targeted universal tax" mechanism for French citizens who move
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European Commission updates draft rules for public CbC reporting template, digital formats
The European Commission has released a revised draft of the Commission Implementing Regulation, establishing a standardised template and electronic reporting formats for Public Country-by-Country (CbC) reporting within the EU. This initiative
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