Spain introduces new VAT regime for groups of companies
Spain's tax authorities have introduced a new special VAT regime for groups of companies (REGE), effective from 2025. Companies must use form 039 to notify their election to apply or waive the REGE for VAT purposes, the advanced REGE arrangement,
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Cyprus announces provisional submission calculation, second provisional tax payment deadline
Cyprus tax authority has reminded taxpayers the deadline for submitting a revised provisional tax calculation (if applicable) and making the second provisional tax payment for the 2024 tax year is 31 December 2024. Taxpayers whose taxable income
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Denmark: Bookkeeping Act effective from January 2025
The Danish Business Authority is notifying companies about new digital bookkeeping rules effective 1 January 2025, as per the Danish Bookkeeping Act. These rules mandate that companies use a digital bookkeeping system capable of receiving and
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Bulgaria: Ministry of Finance announces 2025 State Budget draft
Bulgaria's Ministry of Finance has issued an announcement on the draft law for the 2025 State Budget on 4 December 2024, which will be submitted to the National Assembly. "An analysis of revenues and expenditures for the next calendar year
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Slovak Republic: Parliament approves financial transaction tax amendment
The Slovak Republic Parliament has passed an amendment to the Financial Transactions Tax Act, which will take effect on 1 January 2025. The amendment introduces key changes to tax regulations, including clarifying and expanding exemptions,
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Germany: Annual Tax Act 2024 enters into force
Germany’s Annual Tax Act 2024 (Jahressteuergesetz 2024) entered into force on 6 December 2024 following its publication in the Official Gazette (BGBl. I 387/2024) on 5 December 2024. This Act introduces several tax amendments, including revised
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New Zealand, Slovenia sign income tax treaty
New Zealand and Slovenia have signed an income tax treaty on 3 December 2024. A tax treaty is a bilateral agreement between two countries designed to address issues related to the double taxation of both passive and active income of their
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Austria updates CFC rules to prevent double taxation under Pillar Two
Austria's parliament has amended its CFC rules to avoid double taxation issues under the Pillar Two global minimum tax framework. Amendments to Section 10a of the Austrian Corporate Income Tax Act have been approved and now require Qualified
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Hungary publishes updated GloBE data sheet
Hungary’s Tax and Customs Agency has released the updated version of the GloBE data sheet on 5 December 2024. The data sheet features technical enhancements and detailed field definitions to simplify XML completion and includes a User
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Moldova ratifies tax treaty protocol with Slovak Republic
Moldova published Decree No. 1676 of 3 December 2024 in the Official Gazette on 5 December 2024, enacting the law ratifying the amending protocol to the 2003 income and capital tax treaty with the Slovak Republic. The agreement between the Slovak
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Poland: Ministry of Finance designates Head of the Kujawsko-Pomorskie Tax Office as authority for global tax compliance
The Polish Ministry of Finance has announced designating the Head of the Kujawsko-Pomorskie Tax Office in Bydgoszcz as the sole authority responsible for matters related to the global minimum tax. This decision, outlined in a draft regulation
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San Marino ratifies DTA, amending protocol with Netherlands, Malta, Lithuania
The Sammarinese Official Gazette published Decree No. 184/2024, 185/2024, and 186/2024 on 28 November 2024 ratifying the Double Taxation Agreement (DTA) with the Netherlands, the third protocol to the Double Taxation Agreement (DTA) with Malta and
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Ireland: Revenue clarifies interest deduction restrictions for intercompany loans
The Irish Revenue Commissioners released eBrief No. 289/24 on 27 November 2024, clarifying restrictions surrounding interest deductions for intercompany loans. The update explains which subsidiary companies are no longer able to claim deductions
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Bulgaria: Parliament considers corporate tax amendments to implement GloBE rules, extend certain tax exemptions
Bulgaria’s Council of Ministers has submitted a proposal to parliament for amendments to the Corporate Income Tax Act, focusing on refining Global Anti-Base Erosion (GloBE) rules and extending regional tax relief measures on 2 December
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Italy ratifies new tax treaty with China
Italy has published Law No. 182 of November 18, 2024, in the Official Gazette on 3 December, 2024, ratifying the new tax treaty with China. The agreement aims for the elimination of double taxation with respect to taxes on income and the prevention
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Serbia ratifies amending protocol to tax treaty with Hungary
Serbia has published the Law of 11/28/24 in its Official Gazette ratifying the protocol to the 2001 income and capital tax treaty with Hungary on 3 December 2024. Earlier, Hungary and Serbia signed an amending protocol to the Hungary-Serbia
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Belgium proposes updates to DAC6, DAC7 rules
Belgium’s government has introduced a draft law proposing updates to the current regulations on the automatic exchange of information (AEOI) and related obligations. The draft legislation also outlines new penalties under DAC6 and DAC7. These
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Netherlands: Amount B will not be introduced for Dutch taxpayers
The Netherlands government has announced, on 4 December 2024, in a decree that it will not be adopting the OECD’s new transfer pricing rules (Amount B). However, it will acknowledge other countries' adoption of the OECD's new transfer pricing
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