Romania deposits instruments for the ratification of the Multilateral BEPS Convention
On 28 February 2022, Romania has deposited its instrument of approval or ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI), which now covers over
See MoreGermany publishes draft law on the interest rate for late payment
On 23 February 2022, the Treasury Department published a bill that would provide a reduced rate of interest on overpayments and tax refunds. The draft bill provides for reduced default interest of 0.15% per month (1.8% per year) on overpayments
See MoreFrance: Government updates list of exempted countries for CbC report local filing obligations
On 14 February 2022, Government published Decree of 14 February 2022, which amends the Order 6 July 2017 pursuant to II of Article 223 quinquies C of the General Tax Code. The new Decree updates the exemption from local filing provided in the
See MorePoland: MOF publishes interest rates for late payment of tax arrears
On 14 February 2022, Polish Ministry of Finance has published the interest rates for tax arrears / late payment. Accordingly, the rate of late payment interest is 8.5% per annum (previously it was 8.0%), the reduced rate of interest for late
See MoreEU: European Parliament Adopts Resolution on Impact of National Tax Schemes
On 15 February 2022 the European Parliament adopted a resolution relating to the impact of national reforms on the economy of the European Union. Resolutions of the European Parliament are not binding on other EU institutions, but they call for
See MoreDenmark amends the transfer pricing documentation rules
On 31 January 2022, the Danish Ministry of Finance issued updated guidance regarding amendments to the transfer pricing rules requiring the submission of the transfer pricing documentation within 60 days of the due date for filing the tax return,
See MoreSlovenia updates the TP guidelines
On 31 January 2022, the Slovenian Ministry of Finance updated the transfer pricing (TP) guidelines. The revised guidance includes the new documentation requirements and procedures for determining income and transfer pricing, including for
See MoreItaly: Final guidance on hybrid mismatches rules
On 26 January 2022, the Italian Revenue Agency (IRA) has declared the finalization of Circular No. 2/2022. The circular clarifies the hybrid mismatch rules that has introduced as part of the Decree No. 142 of 2018, which transposed the measures
See MoreRomania extends deadlines for tax return 2021
On 28 January 2022, the National Agency for Fiscal Administration (ANAF) of Romania has published a Notification No. 137 declaring the annual corporate income tax return and payment deadline is extended to 25 June 2022 for the tax year 2021.
See MoreFrance: Supreme Court decides on the definition of residents for tax treaty purposes
On 2 February 2022, the French Administrative Supreme Court ruled that a company benefiting from a temporary and partial corporate income tax exemption should be considered liable to tax and therefore a tax treaty resident. The French tax
See MoreLithuania publishes form for reportable cross-border arrangements
On 17 January 2022, the State Tax Inspectorate issued Order No. VA-7 of 14 January 2022, amending the rules for annual reporting on the use of reportable cross-border arrangements for DAC6. The order introduces the PRC914 notification form and
See MoreGermany proposes further extensions of several fiscal measures for the COVID-19
On 3 February 2022, the German Ministry of Finance has introduced a bill that provides further measures to support taxpayers during the COVID-19 pandemic. The draft bill primarily provides for the retention of transitional measures that have
See MoreNorway publishes regulations on the deferral of tax payments
On 25 January 2022, Norway has published regulations amending regulations on deferral of tax payments and other deadlines in response to COVID-19. The original regulations provided for a deferral of employer contributions, advance taxes and VAT
See MoreEU: Role of Environmental Taxation in Supporting the Transition to Sustainability
On 7 February 2022 the European Environment Agency (EEA) issued a briefing entitled The role of environmental taxation in supporting sustainability transitions. This examines trends in taxes on pollution, greenhouse gases and resource use and
See MoreMalta: CFR extends electronic filing deadline of CIT returns for 2022
On 27 January 2022, Malta’s Commissioner for Revenue (CFR) has notified that the deadlines for the electronic filing of corporate income tax (CIT) have been extended as follows: Financial Year EndingManual Return DeadlineElectronic
See MoreEU: Auditors Review Energy Taxation and Carbon Pricing
A review published on 31 January 2022 by the European Court of Auditors entitled Energy Taxation, Carbon Pricing and Energy Subsidies notes that the EU countries tax and subsidise energy sources in a manner that contradicts their climate goals; and
See MoreCyprus: Tax department issues a new FAQs section on transfer pricing
On 24 January 2022, the Cyprus Tax Department published a new “Frequently Asked Questions (FAQs)” section on its website on Transfer Pricing (TP). The FAQs relate to the Interpretative Circular 3 issued on 30 June 2017 (Back-to-Back Circular).
See MoreCzech Republic: Finance Ministry updates list of jurisdictions exchanging CbC reports
On 20 January 2022, the Finance Ministry published Finance Bulletin No.3/2022, which updates the list of jurisdictions participating in the exchange of country-by-country (CbC) reports for the 2021 reporting
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