Bosnia and Herzegovina proposes mandatory e-invoicing
The government of Bosnia and Herzegovina has proposed mandatory electronic invoicing and reporting requirements to combat tax fraud, particularly for sales conducted through the internet and digital platforms. The electronic invoicing and
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Sweden terminates 1993 tax treaty with Russia
As reported recently, Sweden has informed Russia of its decision to suspend the application of the 1993 income tax treaty between the two nations, effective from 1 February 2025. Earlier, the Swedish government presented a bill, the Repeal Act,
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Poland: Senate passes law on global minimum tax rules
Poland’s Senate (upper house of parliament) has approved a legislation for the implementation in accordance with the EU Minimum Tax Directive (Council Directive (EU) 2022/2523) of 14 December 2022. The bill must be presented to the president
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Lithuanian parliament approves tax treaty ratification with Andorra
Lithuania's parliament (Seimas) approved the ratification of the tax treaty on income and capital with Andorra on 12 November 2024. Earlier, the Lithuanian government approved the income and capital tax treaty with Andorra on 11 September
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Serbia approves protocol amending 2001 tax treaty with Hungary
The Serbian government approved the protocol amending the 2001 income and capital tax treaty with Hungary on 31 October 2024. The protocol includes clarifications on several key terms. Specifically, it defines that in the context of relations
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Italy introduces tax credit for investments in southern economic zone
Italy issued Ministerial Decree on 18 September 2024, which was published in the Official Gazette on 11 November 2024, outlining the regulations for a tax credit for specific investments in the "Special Economic Zone for Southern Italy—Single
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Czech Republic, Rwanda tax treaty enters into force
The Czech Republic Ministry of Finance has announced,on 11 November 2024, that the income tax treaty with Rwanda came into effect on 30 October 2024. This treaty, signed on 2 May 2023, is the first between the two nations and aims to eliminate
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Portugal updates indexation coefficients for capital gains tax on 2024 sales
The Portuguese Government has published the indexation coefficients for calculating capital gains or losses applicable to personal and corporate income tax. These coefficients, which were announced in Ordinance 228/2024/1 on 7 November 2024,
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Romania approves signing of new tax treaty with UK
Romania’s government has approved the signing of a new income tax treaty with the UK on 7 November 2024. This new income tax treaty will supersede the existing Romania - United Kingdom Income Tax Treaty of 1975. Previously, on 18 October
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Luxembourg updates CbC reporting guidance
The Luxembourg Administration of Direct Tax has updated its Country-by-Country (CbC) reporting guidance page, including an updated CbC reporting FAQ, to reflect the latest OECD recommendations. The update addresses whether profits (losses) before
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EU issues new guidance on VAT for small businesses
European Commission, on 11 November 2024, released the Guide to the SME scheme and explanatory notes for the updated Small Enterprise Scheme (SME scheme), which will take effect on 1 January 2025. This guide aims to provide a better understanding
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Finland proposes revised TV tax, VAT on broadcasting services
Finland’s government has submitted a legislative proposal (HE 186/2024) to the parliament on 7 November 2024 to amend the television tax levied on individuals and businesses and the VAT applied to public broadcasting services. The draft
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Ireland: Parliament passes Finance Bill 2024
Ireland’s Senate passed the Finance Bill 2024 on 6 November 2024. Earlier, on 5 November 2024, the lower house of parliament approved the Finance Bill 2024, which outlines various tax measures as part of the Budget 2025. The Finance Bill
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Portugal: Pillar Two Directive enters into force
Portugal has published Law No. 41/2024 in the Official Gazette on 8 November 2024, transposing the Pillar Two Directive into law. The law received Presidential Approval on 30 October 2024, and will take effect starting 9 November
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Greece consults tax exemptions for non-EU intra-group dividends, capital gains
The Greek Ministry of Finance (MoF) has initiated a public consultation regarding the introduction of a participation exemption for intra-group dividends and capital gains derived from non-EU entities. This proposed measure aims to enhance the
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Poland consults extension of temporary withholding tax exemption
Poland’s Ministry of Finance has initiated a public consultation regarding a draft regulation proposing the extension of the temporary exemption withholding tax under the “pay and refund” (MPR) mechanism until 31 December 2025, allowing
See MoreGreece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
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Netherlands submits third bill to amend Tax Plan 2025, updates funds for joint account regulations
The Netherlands government has presented the third amending bill to the Tax Plan 2025 to the lower house of parliament on 6 November 2024. This bill aims to eliminate an unintended, temporary tax liability for funds held in joint accounts
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