Andorra and Germany to initiate income tax treaty negotiation
As stated in a release from the Andorran government officials from Andorra and Germany are set to begin the first round of negotiations for an income tax treaty in November 2024. The Head of Government, Xavier Espot, the Minister of Foreign
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Germany: Lower House of Parliament passes Annual Tax Act 2024
Germany’s Lower House of Parliament of Germany (Bundestag) passed the Annual Tax Act 2024 on 18 October 2024. The Bundestag has implemented 59 changes to the draft law based on the Finance Committee's recommendation. The Annual Tax Act 2024
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Germany publishes final guidance on mandatory e-invoicing
The German Ministry of Finance has published the final guidance on mandatory e-invoicing on 15 October 2024. The principles of the guidance are to be applied to all sales made after 31 December 2024. As established by the Growth Opportunities
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Montenegro, Germany initiate tax treaty negotiations
First round of discussions regarding an income and capital tax treaty between Germany and Montenegro concluded in Podgorica from 7 to 11 October 2024. The announcement was made by the government of Montenegro on 14 October 2024. If an
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Germany issues Notification Form for minimum tax group under Pillar Two rules
The German Federal Ministry of Finance released a notification form for the parent entity of German minimum tax groups subject to the Pillar Two global minimum tax rules on 17 October 2024. The notification for the parent entity of the minimum
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Germany updates Non-Cooperative Tax Jurisdictions List
The Ministry of Finance released a draft bill on 10 October 2024 of an updated decree listing states and territories considered non-cooperative in tackling tax avoidance and unfair tax competition. The list is important in domestic law that
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Germany passes Fourth Bureaucracy Relief Act, cuts accounting document retention and updates transfer pricing rules
Germany’s Federal Council (Bundesrat) passed the Fourth Bureaucracy Relief Act on 18 October 2024 following its approval by the Bundestag (lower house of parliament) on 26 September 2024. One key aspect of the Act is that it reduces
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European Commission ends infringement case against Germany, Hungary over DAC7 information exchange
The European Commission has announced the conclusion of the infringement procedure against Germany and Hungary for their failure to comply with the obligation to automatically exchange information as mandated by the Amending Directive to the 2011
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Germany seeks to extend deadline for transfer pricing documentation reporting, reduce bureaucratic burden on taxpayers
Germany’s government has proposed to extend the deadline for taxpayers to submit detailed transfer pricing documentation, and to revise the guidelines for how companies compile information for audits. Germany's first chamber approved a bill
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Germany: Tax revenue grows 5.3% in August
Germany's federal and state governments' tax revenue rose 5.3% in August when compared to the same month last year, said the finance ministry on Friday, 20 September 2024. According to the ministry's monthly report, tax revenue collected by
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Germany, Latvia: Amending protocol to tax treaty enters into force
The updated protocol to the Germany-Latvia income and capital tax treaty came into effect on 23 June 2024, as reported by the Latvian online legal information database. The protocol, signed in Riga on 29 September 2022, will apply from 1 January
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Germany unveils Future Financing Act II to boost capital market
Germany's Ministry of Finance unveiled a second draft bill, the Zukunftsfinanzierungsgesetz II (Future Financing Act II), aimed at further enhancing the German capital market on 27 August 2024. Building on the previous Future Financing Act, this new
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Germany publishes draft law to amend global minimum tax
The German Ministry of Finance has released a discussion draft for a proposed amendment to the law implementing Council Directive (EU) 2022/2523 on establishing a global minimum level of taxation – lowering the low tax threshold for foreign
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Germany: Tax revenue falls by 7.9% in July 2024
Germany’s Ministry of Finance revealed that the federal and regional governments’ tax revenues significantly dropped in July 2024, compared to July 2023. The findings were published in a report on Tuesday, 22 August. This decline was
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Germany revises transfer pricing guidelines for intra-group financing
Germany’s Federal Ministry of Finance (BMF) has issued a draft version of the Administrative Principles for Transfer Pricing 2023 (VWG VP), on 14 August 2024. This revision incorporates the new regulations found in Section 1, Paragraphs 3d and 3e
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Kenya to revise tax treaties with Zambia, Germany, Iran
Kenya’s government has shown interest in restarting negotiations to revise its 1968 tax treaty with Zambia, the 1977 tax treaty with Germany, and the 2012 tax treaty with Iran. This follows after the Kenyan government decided to align its tax
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US: IRS clarifies mutual agreement procedure relief requirements under tax treaty with Germany
The IRS Office of Chief Counsel (OCC) issued a letter on 11 April, 2024, addressing an inquiry regarding the 1989 US-Germany income tax treaty. The letter outlines the requirements for obtaining tax relief under Article 25 (Mutual Agreement
See MoreIMF Issues Report on the Economy of Germany
On 18 July 2024 the IMF issued a report following consultations with Germany under Article IV of the IMF’s articles of agreement. The German economy has begun to recover from the energy price shock. The high energy prices caused by the
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