Czech Republic ratifies tax treaty with Montenegro
Czech Republic’s President Petr Pavel enacted the law ratifying the pending income tax treaty with Montenegro on 1 October 2024. The treaty was signed by the two nations on 20 February 2024, aimed at preventing double taxation of income and
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Norway announces 2025 budget, lowers tax and VAT rates
Norway’s government presented the 2025 Budget Bill, on 7 October 2024, with the aim to enhance the financial well-being of Norwegians, strengthen Norway's preparedness against war and crime, and reduce social and geographical
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European Commission drops infringement case against Cyprus and Romania over cross-border payment rules
The European Commission announced it closed the infringement procedures against Cyprus (INFR(2024) 0016) and Romania (INFR(2024) 0122) for failing to transpose the Amending Directive to the VAT Directive (2020/284) on 3 October 2024. This
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UK, Thailand sign ETP to boost economic partnership
Thailand and the United Kingdom formalised an Enhanced Trade Partnership (ETP) in Bangkok on 18 September 2024. Trade Minister Douglas Alexander will sign the pact alongside Thai Commerce Minister Pichai Naripthaphan in Bangkok this morning as
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European Commission launches expiry review of anti-dumping duties on import of Chinese ironing boards
The European Commission published the Notice of initiation of an expiry review of the anti-dumping measures applicable to imports of ironing boards originating in the People's Republic of China (the Notice) in the Official Journal of the European
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Luxembourg approves tax treaty with Albania
Luxembourg's Council of State approved a draft law to ratify the income and capital tax treaty with Albania on 24 September 2024, it was originally Signed on 14 January 2009, the treaty allows for a maximum dividend tax rate of 5% for companies
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Norway signs new VAT agreement with EU
Norway's ambassador to the EU, Anders H. Eide announced that he signed a renegotiated agreement with the EU on administrative cooperation in the field of VAT to combat international VAT fraud on 2 October 2024. An agreement between Norway and the
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European Commission refers Spain, Cyprus, Poland, Portugal to court for failing to transpose Pillar Two Minimum Taxation Directive
The European Commission (EC) decided to refer Spain, Cyprus, Poland, and Portugal to the Court of Justice of the European Union for failing to notify measures for the transposition into national law of Council Directive (EU) 2022/2523 of
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Kuwait ratifies tax treaty with Iraq, amending treaty protocol with South Africa and Switzerland
Kuwait ratified income tax treaty with Iraq and amending protocol to the treaty with South Africa and Switzerland on 18 September 2024, published in Official Gazette No. 1705 on 22 September 2024. The income and capital tax treaty with Iraq was
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Switzerland ratifies tax treaty protocol with Serbia
The Swiss National Council (lower house of parliament) approved the ratification of the protocol to the 2005 tax treaty with Serbia on Wednesday, 25 September 2024. The DTA was concluded at a time when Serbia and Montenegro still formed a single
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UK to consult Multinational Top-up Tax and Domestic Top-up Tax – further draft guidance
HM Revenue & Customs (HMRC) has initiated a public consultation on the third version of UK's Pillar Two global minimum tax rules. Comments must be submitted by 23 October 2024. HMRC released additional draft guidance for consultation
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Ukraine: Multilateral Agreements for Exchange of CbC Reports, Financial Account Information Under CRS enters into force
The multilateral component authority agreements for the exchange of Country-by-Country Reports (CbC MCAA) and for the exchange of financial account information under the Common Reporting Standard (CRS MCAA) has entered into force in Ukraine. The
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UK: HMRC releases corporate tax registration guide for foreign companies
The UK HMRC released guidance on Corporation Tax registration for non-UK residents and non-UK incorporated companies, on 17 September 2024, outlining who is required to register and how a non-UK resident company trading in the UK through a dependent
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UK: HMRC to consult e-invoicing
The Chancellor of HMRC, Rachel Reeves, announced a public consultation on electronic invoicing (e-invoicing) on 23 September 2024. The public consultation will gather input from businesses on how HMRC can support investment in and encourage
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Switzerland updates jurisdictions list for CbC report exchange
Switzerland released an updated list of jurisdictions on 16 September 2024 with which it will exchange Country-by-Country (CbC) reports. The new list, dated 1 September 2024, includes 93 jurisdictions and provides details on each jurisdiction's
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Latvia, Andorra sign income tax treaty
Andorra’s government announced that it signed an income and capital tax treaty with Latvia on Saturday, 21 September 2024. Andorra’s Foreign Minister, Imma Tor, and Latvia's Minister for Foreign Affairs, Baiba Braze, signed the agreement in
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Ukraine to align tax legislation with OECD standards
Representatives of the Ministry of Finance of Ukraine and State Tax Service of Ukraine announced that the country will align its tax legislation with OECD standards. Representatives of Ukraine at the invitation of the Organisation for Economic
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UK: HMRC issues new guidance for non-UK companies involved in property sector
The UK tax authority, His Majesty's Revenue and Customs (HMRC), has released new guidance for non-UK resident companies involved in the property sector within the United Kingdom on 17 September 2024. This update is particularly important for
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