brought to you by TPS
Europe
- EU unlikely to reach agreement on new tax rules by end of year, says Italian economy minister – click here;
- E-News from the EU Tax Centre – click here;
- Malta: Transfer Pricing Rules 2022 – Legal Notice 284 Of 2022 – click here;
- Malta: Update of the Guidelines on the reporting obligations of Digital Platform Operators (DAC 7) – click here;
- UK transfer pricing documentation: New law comes into force, guidance issued – click here;
- UK: New offense of failure to prevent the facilitation of tax evasion created – click here;
- UK Calls for Reversal of Tax Treaty Suspension: Diplomatic Standoff with Russia – click here;
- Germany: MOF advisory board issues statement on EU debt-equity bias proposal – click here;
- Finland Paves the Way for Global Minimum Tax Implementation – click here;
- Portugal: Public country-by-country reporting legislation approved – click here;
Global
- Tax treaty round up (August 2023) – click here;
- Tax Transformation Trends 2023 Executive Summary Report available – click here;
- Tax Functions Should Transform to Tackle Pillar Two and ESG – click here;
- US: KPMG report: Potential U.S. tax implications of proposed Bermuda corporate income tax – click here;
- New Zealand will bring digital services tax if global agreement fails – click here and here;
Romania
- The Chamber of Tax Consultants on the taxation of multinationals: Businesses involving a production chain are discriminated against / "Turnover": a blind indicator (RO) – click here;
- ZF Live. Adrian Luca, Transfer Pricing Services: the government needs to do sectoral profitability analyses before taxing large companies on their turnover. This whole tax system seems more like a purely administrative, purely political measure that includes a populist component (RO) – click here;
- NAFA's tax inspectors have a target to fulfill regarding the additional amounts to be imposed to companies during tax inspections. If they don’t reach the set target, they get a low score (RO) – click here and here;
- SME representatives believe that any tax changes should NOT be made before January 1, 2024 (RO) – click here;
- The taxation of the turnover of large companies raises several questions: is it or is it not legal for the government to tax the turnover only of those companies with a business of more than EUR 50/100 million and to have this tax linked to profits? (RO) – click here;
- Foreign investors warn: the introduction of a tax as a percentage of the turnover can lead to a slowdown or even contraction of the economy (RO) – click here;
- What the Prime Minister Marcel Ciolacu wants to achieve in Brussels: there are signs that the European Commission will recognise our financial efforts for Ukraine and the Republic of Moldova (RO) – click here;
- Tax increases and cuts in public expenditures have not convinced the European Commission. Officials in Brussels have suggested increasing the VAT standard rate by two points. Decisive negotiations (RO) – click here and here;
- Ciolacu does not agree with the VAT increase demanded by Brussels. The numbers he's taking to the EC to negotiate the increase of Romania’s budget deficit (RO) – click here and here;
- The EC disagrees with the government's plans for fiscal-budgetary reform (RO) – click here;
- Protests at the Ministry of Finance - NAFA: Three questions the trade unionists are asking (RO) – click here;
- Dorin Modure, President of the Tax Administration Unions: "We should not reduce revenues, we should not overtax small businesses, we should reduce the tax evasion a bit" (RO) – click here;
- The national recovery and resilience plan is not about cutting ribbons, but about what? (RO) – click here;
Webinars
- Webinar Series on Navigating Pillar Two – Pillar Two and its Implications on Tax Accounting, September 13th 2023 – click here;
- Webinar Series on Navigating Pillar Two – Pillar Two’s impact on business models and data management solutions, September 27th 2023 – click here.
