News Europe
Turkey Enacts New Law on Digital Services Tax
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December 13th, 2019
Turkey published Law No. 7194 in its Official Gazette. By means of this law, Digital Services Tax, Tax on high-valuable property, and Accommodation Tax have been established. In addition, some amendments and additions have been made in certain articles of Real Estate Tax Law No 1319, Expense Tax Law No 6802, Income Tax Law No 193 and Tax Procedure Law No 213.
Bulgaria Amends Corporate Income Tax Act
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December 10th, 2019
Bulgaria published the law on amendments to its Corporate Income Tax Act in its official state gazette. The amendments were adopted by the 44th National Assembly on November 21, 2019.
EU Ministers Fail to Agree on Public CbCR
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December 6th, 2019
The EU Competitiveness Council (COMPET) failed to agree on a directive concerning disclosure of income tax information by large international companies. EU Ministers responsible for industry and the internal market met in Brussels to discuss, among others, Country-by-Country reporting (CbCR).
9 EU Finance Ministers Call For Aviation Tax
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November 12th, 2019
In a joint statement, 9 finance ministers called upon the European Commission to advance a proposal for an EU initiative on aviation pricing. The ministers of Germany, France, Sweden, Italy, Belgium, Luxembourg, Denmark, the Netherlands and Bulgaria stated that aviation is not sufficiently priced when compared to other means of transportation.
EU Code of Conduct Group Recommends Amendments to Tax Blacklist
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November 8th, 2019
The EU Code of Conduct Group (Business Taxation) released a report concerning the EU list of non-cooperative jurisdictions for tax purposes. In this report, the Code of Conduct Group suggests amendments to the Annexes of the EU Council conclusions of March 12, 2019.
EU Commission Opens In-Depth State Aid Investigation Into Support Measures Granted By Poland
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November 2nd, 2019
The European Commission announced that it had opened an in-depth investigation to assess whether two support measures with a total value of EUR 39 million granted by Poland in 2012-2013 to a chemical company PCC MCAA Sp. Zo.o (PCC) for investing in a new plant in Poland are in line with EU rules on regional State Aid.
EU Pushes for Public Tax Reports Stalls
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October 29th, 2019
The European Parliament has adopted a resolution calling on EU Member States and the Finnish presidency of the Council of the European Union to move forward on public Country-by-Country reporting. The resolution, adopted by 572 votes in favour, 42 against and 21 abstentions.
Irish Minister Donohoe Announces Government Approval For The Publication Of The Finance Bill 2019
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October 21st, 2019
The Irish Minister for Finance, Paschal Donohoe TD, announced Cabinet approval for the publication of the Finance Bill 2019 following the government meeting earlier last week.
Ireland's Finanance Bill makes further changes as required by the EU Anti-Tax Avoidance Directive (ATAD) and enhances Ireland’s position internationally with reforms in relation to transfer pricing in line with OECD guidelines.
Luxembourg 2020 Budget To Apply Automatic Expiration Of Pre-2015 Tax Rulings
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October 17th, 2019
The 2020 Budget Bill of Law provides filed by the parliament provides for the automatic expiration of pre-2015 tax rulings upon completion of the fiscal year 2019. The bill also provides that affected taxpayers may request a new ruling (valid for five years) under the current procedure.
Benelux Countries Sign Agreement To Combat Fiscal Fraud
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October 17th, 2019
Belgium, the Netherlands and Luxembourg have signed an agreement strengthening their cooperation in the fight against tax evasion. The attention will be focused on digitalisation to combat new forms of fraud and anticipate new phenomena in this area.
Dutch Government Launches Consultation On Updated List Of Low-Tax Jurisdictions
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October 8th, 2019
The Dutch Ministry of Finance announced it has launched a public (Internet) consultation on the list of low-tax jurisdictions for 2020.
Background
French Government Issues Bill Pertaining To Corporate Taxation
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October 1st, 2019
The French government presented its draft Finance Law for 2020. It includes amendments regarding the scheduled reduction on corporate tax rates, which began in 2018 but was partially reversed for large companies for 2019.
The 2020 Dutch Budget And Tax Plan - Key Takeaways For Multinational Enterprises
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September 19th, 2019
Recently, the Dutch Budget for 2020 was presented, which includes the Tax Plan for 2020. The proposal aims to increase the perceived fairness of the Dutch corporate income tax system, whilst still keeping the Netherlands attractive as a place to do business.
EU Commission To Investigate 39 Belgium “Excess Profit” Tax Rulings For Potential State Aid Violations
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September 17th, 2019
The European Commission announced that it has opened 39 in-depth investigations to assess whether Belgian “excess profit” tax rulings granted to multinationals between 2005 and 2014 provided benefits that are contrary to EU State Aid rules.
Background .
European Fiscal Board Publishes Assessment Of EU Fiscal Rules
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September 13th, 2019
On 11 September 2019, the European Fiscal Board published an assessment of the current EU fiscal rules, asked by the President of the European Commission by a letter of 28 January 2019, with a particular focus on the six and two-pack legislation. The assessment includes a backward-looking part reviewing the effectiveness of the current set of EU fiscal rules and a forward-looking part with ideas on how the rules could evolve.
Ireland Pitches Updated Transfer Pricing Rule To Be Aligned With Latest OECD Guidelines
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September 6th, 2019
The Irish Department of Finance published a Feedback Statement to modify the transfer pricing rules applicable to businesses in Ireland. It summarizes the proposed updated TP legislation and provides a final short window to seek input from stakeholders.
Bulgaria Publishes Law for TP Documentation Requirements and Implementation of EU Tax Dispute Directive
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August 15th, 2019
Bulgaria introduced its law for Transfer Pricing documentation requirements and implementation of EU tax dispute directive which incorporated under the Tax and Social Security Procedure Code. The main amendments include: introduction of mandatory transfer pricing documentation requirements and implementation of the EU Tax Dispute Resolution Directive.
Switzerland To Lose Signicant Tax Revenue Due To International Tax Reforms
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July 23rd, 2019
Swiss Treasury claimed that the country could lose up to CHF10 billion of tax revenues which includes cantons and municipalities taxation. The lose caused by changes in corporate taxation rules to capture a larger share of taxes of multinationals based in tax-friendly destinations like Switzerland.
EU Advisory Body Proposes a Method To Allocate Residual Profits From Marketing Intangible
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July 19th, 2019
The EU Advisory Body has proposed a method to allocate residual profits from marketing intangibles with a four-factor formula as a way to adapt global tax rules for the digital age. The European Economic and Social Committee ( EESC ) adopted an opinion about taxation of the digital economy, noting that any changes on the allocation of taxing rights among countries should be coordinated globally, in order to harness the benefits of globalization.
French Parliament Approves The Reduction of Corporate Income Tax Rate
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July 16th, 2019
The French parliament approved legislation shifting the trajectory of the reduction in the corporate income tax rate that already enacted in the 2018 finance law.
Corporate income tax measures .

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