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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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
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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Romania, UK sign new income tax treaty
Officials from Romania and the United Kingdom signed a new income and capital tax treaty on 13 November 2024. The agreement will come into force once the ratification instruments have been exchanged. Upon becoming effective, it will supersede
See MoreEU: Public prosecutor probes EUR 520M VAT fraud linked to mafia networks across nations
The European Public Prosecutor's Office (EPPO) has announced, on 14 November 2024, that it launched an investigation into a EUR 520 million VAT fraud orchestrated by multiple mafia groups operating in various EU and non-EU countries. The
See MoreRomania gazettes income tax treaty suspension with Belarus
Romania has issued Order no. 2.412 of 6 November 2024 in the Official Gazette, announcing the suspension of the 1997 income and capital tax treaty with Belarus, effective from 12 November 2024. Earlier, the Romanian government approved a
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Korea, UK negotiate enhanced FTA
A release from the Ministry of Trade, Industry and Energy of the Republic of Korea on 11 November 2024, announced that the third round of negotiations for an enhanced free trade agreement (FTA) between Korea and the UK is taking place in Seoul
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UK: HMRC publishes new guidelines for patent box computations assistance
The UK tax authority, His Majesty's Revenue & Customs (HMRC) has released new guidelines to assist with Patent Box computations GfC9, on 7 November 2024, to address common errors in Patent Box computations. The aim is to improve compliance by
See MoreRomania 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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UK: HMRC releases XML schema, related documents for digital platform reporting
UK HMRC published the Digital platform reporting XML schema and supporting documents 24 October 2024. The documents include XML schema and supporting documents and Sample XML files. The UK is signed up to the Organisation for Economic Development
See MoreEU 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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Taiwan, UK sign enhanced trade partnership arrangement
Taiwan Representative to the United Kingdom Amb. Kelly Wu-chiao Hsieh and Representative of the British Office in Taipei John Dennis, representing the Executive Yuan’s Office of Trade Negotiations and the UK Department of Business and Trade signed
See MoreUK cuts interest rates on late payment, repayment of tax
The UK tax authority, His Majesty's Revenue and Customs (HMRC), has announced a reduction in interest rates for late payments and repayments of tax, setting them at 7.25% (down from 7.5%) and 3.75% (down from 4.0%), respectively. This adjustment
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UK Treasury revises reporting rules for digital platforms
The UK Treasury has updated its regulations for digital platform operators on 31 October 2024. The UK Treasury introduced “The Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations SI 2024/1082 (Regulations SI
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Angola, Ukraine discuss potential tax treaty
Minister of Foreign Affairs of Ukraine Andrii Sybiha was received in Luanda by President of the Republic of Angola João Lourenço, to further the dialogue between the Angolan leader and President of Ukraine Volodymyr Zelenskyy on 25 October
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Russia ratifies income tax treaty with Abkhazia, Malaysia
The President of Russia signed the Law No. 372-FZ for the ratification of the income tax treaties with Abkhazia and Malaysia on 2 November 2024. Earlier, the Russian government approved draft laws for the ratification of pending income tax
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Hungary ratifies amending protocol to tax treaty with Switzerland
Hungary’s parliament has ratified the protocol amending Hungary's income tax treaty with Switzerland on 4 November 2024. The President of Hungary has signed Law No. XLVII of 2024, officially ratifying the amending protocol. This law was
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Hungary ratifies amending protocol to tax treaty with Serbia
Hungary’s parliament has ratified the protocol amending Hungary's tax treaty with Serbia on 4 November 2024. The protocol is expected to expand cooperation between the two nations, facilitate stronger business relations, and combat tax
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