Serbia announces amendments to e-invoicing rulebook
Serbia’s Ministry of Finance released updates to the electronic invoicing (e-invoicing) rulebook in the official gazette no. 65/2024 on 2 August 2024. These amendments will take effect from 1 September 2024, with specific provisions concerning the
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Slovak Republic approves tax treaty amendment with Moldova
The Slovak Republic government approved signing an amendment to the 2003 tax treaty with Moldova on 21 August 2024. The tax treaty between the Slovak Republic and Moldova was intended to prevent double taxation and tax evasion in the field of
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Switzerland approves tax treaty with Jordan
During a meeting, the Swiss Federal Council approved a double taxation agreement (DTA) with Jordan on 21 August 2024. The agreement will create legal certainty and favourable conditions for the further development of bilateral economic relations
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Switzerland extends special rules on withholding tax for too-big-to-fail instruments
The Swiss Federal Council approved a temporary extension of the special rules on withholding tax for too-big-to-fail (TBTF) instruments to 31 December 2031. This ensures that banks can continue to obtain capital from within Switzerland on
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Netherlands approves tax treaty protocol with Moldova
Netherlands’ Council of Ministers ratified the protocol amending the 2000 income tax treaty with Moldova. Signed on 4 September 2023, this is the first amendment to the tax treaty. This income tax treaty between the Netherlands and Moldova
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Turkey approves free trade agreement with Ukraine
Turkey has approved the free trade agreement with Ukraine, according to the country's official gazette No. 32620 on 2 August 2024. The agreement was signed on 3 February 2022 and was later approved by President Recep Tayyip Erdogan, along with
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UK to overhaul tax system with new residence-based regime
The UK government has announced changes to the tax system which aims to address perceived unfairness and enhance its international competitiveness. Effective from 6 April 2025, the outdated concept of domicile status will be eliminated, replaced by
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UK launches consultation on safe harbour anti-arbitrage rule transition to domestic law
The UK Treasury released draft legislation for consultation on implementing the transitional safe harbour anti-arbitrage rule. This initiative ensures the rule aligns with the OECD's G20 Inclusive Framework's December 2023 Administrative
See MoreSwitzerland raises VAT to support extra pension payments
Switzerland’s Federal Department of Home Affairs, in a release on 14 August 2024, clarified the consultation on the implementation and financing of the 13th AHV pension at its meeting on 14 August 2024. The consultation was held regarding securing
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Romania suspends tax treaty with Russia
Romania’s government passed a memorandum to suspend the 1993 income and capital tax treaty with Russia on 14 August, 2024. This decision follows after the Russian Ministry of Foreign Affairs, in a press release on 15 March 2023, declared to
See MoreSwitzerland wants to negotiate revision to FTA with Japan
Switzerland wants to negotiate a revision to the 2009 free trade agreement (FTA) with Japan, the announcement was made through a press release on 7 August 2024. President Viola Amherd travelled to Tokyo on Wednesday, 7 August, to meet with
See MoreSwitzerland consults on determination of partner states for cryptoassets AEOI
The Swiss Federal Council has initiated a public consultation on selecting partner states for the automatic exchange of information regarding cryptoassets on Wednesday, 14 August 2024. The Federal Council wants to use the bill to determine when
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FTA between Iceland, Norway, Switzerland, Liechtenstein and Moldova enters into force
The free trade agreement (FTA) between Moldova and the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland, will take effect on 1 September, 2024. The agreement between the EFTA member states
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Indonesia; Switzerland IPA enters into force
The Investment Protection Agreement 2022 (IPA) between Indonesia and Switzerland went into force on 1 August, 2024. The new IPA addresses the contractual void left by the termination of the 1974 IPA between Indonesia and Switzerland on 8 April,
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Andorra, Latvia approve signing of tax treaty
The Executive Council of the Principality of Andorra has approved signing an income tax treaty with Latvia following the conclusion of negotiations in January 2024. The tax treaty, the first between the two nations, aims to establish a convention
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Ukraine enacts ‘White Business Club’ law
Ukraine’s President Volodymyr Zelenskyy signed Law No. 11084 enacting the “White Business Club”. This legislation amends the Tax Code of Ukraine and introduces several tax incentives and benefits for taxpayers exhibiting a strong commitment to
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Russia lowers tax thresholds for monitoring system participation
Russia enacted Law No. 259-FZ, published in the Official Gazette on 8 August 2024, which lowers the financial thresholds for businesses to participate in the country’s tax monitoring system. This system offers taxpayers a streamlined process
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Ukraine: MCAA for financial data exchange enters into force
Ukraine's Ministry of Foreign Affairs published Letter No. 72/14-612-106482, on 5 August 2024, stating that the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA) entered into force for Ukraine
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