European Commission launches new VAT portal for small businesses
The Directorate-General for Taxation and Customs Union of the European Commission has unveiled a new web portal about the Special VAT regime for small businesses, which will be implemented on 1 January 2025. The special VAT regime is allowing
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Romania: Chamber of Deputies approve protocol to tax treaty with Malta
Romania’s Chamber of Deputies have approved the amending protocol to the 1995 Malta-Romania Tax Treaty on 18 November 2024. The protocol has been presented to Romania's Senate for further approval. It will take effect 30 days after the
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Italy approves tax credit model form for SEZ investments in agriculture, forestry, fisheries
Italy’s tax authorities have sanctioned the model form for tax credit required for eligible businesses in the agriculture, forestry, fishery, and aquaculture sectors in the Single Special Economic Zone (Single SEZ). This form is essential for
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Slovenia proposes changes corporate income tax law
Slovenia's government has presented a draft bill (EVA: 2024-1611-0039) to the parliament on 25 October 2024, proposing several amendments to the corporate income tax law. Tax loss carry-forward limitation The bill suggests limiting the
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Estonia proposes 2% corporate tax for resident firms, permanent establishments
In September 2024, Estonia's Ministry of Finance announced a temporary 2% corporate tax rate for tax resident companies and permanent establishments of non-resident companies. The draft bill is undergoing the second of three readings in the
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Estonia: Parliament passes VAT Act amendments, introduces EU small business scheme
The Estonian Parliament (Riigikogu) passed Bill No. 462 SE, on 13 November 2024,amending the VAT Act which introduces the legislation to implement the EU small business scheme for cross-border supplies, as outlined in Council Directive (EU) 2020/285
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Ireland: Revenue clarifies interpretation of ‘Control’ in updated tax manual
Irish Revenue has published eBrief No. 277/24 on 12 November 2024, which includes an update to the Tax and Duty Manual Part 01-00-05, providing clarification on the interpretation of "control" in certain contexts. The purpose of this manual is to
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Moldova: Parliament approves amending protocol to tax treaty with Luxembourg
The Moldovan parliament approved a draft law to ratify the amending protocol to the Luxembourg-Moldova Income and Capital Tax Treaty (2007) on 15 November 2024. Earlier, Moldovan government approved the amending protocol on 2 October 2024. The
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Hungary ratifies amending protocol to the income and capital tax treaty with Serbia
The President of Hungary has enacted Law No. XLV of 2024, ratifying the amending protocol to the Hungary-Serbia Income and Capital Tax Treaty (2001). The law was published in Official Gazette Magyar Közlöny No. 113 on 13 November
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Poland: President signs law enacting Pillar Two global minimum tax
Poland’s President Andrzej Duda has signed into law on, 15 November 2024, the Act on Equalization of Constituent Units of International and Domestic Groups for the Pillar Two global minimum tax in accordance with the Council Directive (EU)
See MoreItaly ends VAT exemption on staff secondment
Italy published Law No. 166 of 14 November 2024 in the Official Gazette which stipulates that the loan or secondment of staff is not considered a taxable supply for VAT purposes if the recipient solely reimburses the salary and associated
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Lithuania proposes tax reforms on DAC8, reporting tax information
Lithuania’s government has proposed several tax reforms to curb tax evasion and improve compliance as per international standards. These include DAC8 and amending the Code of Administrative Offences, among others. On 9 October 2024, the
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Moldova: Cabinet of Ministers approve ratification of amending tax treaty protocol with Slovak Republic
Moldova's Cabinet of Ministers approved ratification of the protocol to the 2003 tax treaty with the Slovak Republic on 13 November 2024. The protocol marks the first amendment to the treaty, incorporating changes that align it with BEPS and
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Kenya consults tax treaty with Romania
Kenya's National Treasury has released a public notice inviting feedback on a proposed double taxation agreement (DTA) with Romania. Written comments should be sent to the Cabinet Secretary of the National Treasury and Economic Planning at the
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Hungary ratifies new CbC reporting pact with US
Hungary’s President has signed Law No. XLIII of 2024, officially ratifying the new Country-by-Country (CbC) reports exchange agreement with the US. The ratification was published in the Official Gazette No. 113 (Magyar Közlöny) on 13 November
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EU releases updated public CbC reporting forms
The European Commission (EC) published a revised regulation that provides the common template and electronic reporting formats for the EU public country-by-country (CbC) reporting directive on 21 October 2024. This follows after the conclusion of
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Germany: MoF publishes draft bill revising participating jurisdictions for MCAA-CbC exchange
The German Ministry of Finance (MoF) issued a draft bill proposing updates to the list of jurisdictions participating in the Multilateral Competent Authority Agreement (MCAA) for the exchange of country-by-country (CbC) reports on 14 November 2024.
See MoreEU: European Parliament backs FASTER initiative
The European Parliament's plenary session adopted its opinion on 14 November 2024 after a consultation on the proposed Council Directive for the Faster and Safer Relief of Excess Withholding Taxes (FASTER). The opinion endorses the compromise
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