brought to you by TPS
Europe
- KPMG report: Effect of EU small business VAT reform on nonresidents and large businesses – click here;
- KPMG responds to European Commission public consultation on FASTER – click here;
- Switzerland: Partial revision of cantonal tax law (Zug) – click here;
- Austria: Draft legislation implementing Pillar Two global minimum tax – click here;
- Germany: Tax measures in draft tax reform bill, other tax developments – click here;
- Belgium: B2B e-invoicing mandatory effective 1 January 2026 – click here;
- Sweden: Response to notice by European Commission that withholding rules targeting foreign contractors violate EU law – click here;
- Poland: Public consultations on beneficial owner for withholding tax purposes, expansion relief measures – click here;
- Portugal enacts legislation introducing public country-by-country reporting for multinational enterprises – click here;
- Croatia: Direct and indirect tax law amendments effective 1 January 2024 – click here;
- North Macedonia: Amendments to corporate income tax and VAT, windfall profits tax adopted – click here;
- Cyprus: Extension of deadline for VAT returns – click here;
Global
- International community adopts multilateral convention to facilitate implementation of the global minimum tax Subject to Tax Rule – click here;
- OECD: Multilateral convention to facilitate implementation of Pillar Two subject to tax rule – click here or here or see attached;
- Tax treaty round up – click here;
- Washington State: Penalties on unfiled annual reconciliation of apportionable income – click here;
- Brazil: New transfer pricing rules published – click here;
- Egypt issues transfer pricing Explanatory Instructions – click here;
- Costa Rica enacts law making reforms to achieve exclusion from EU's list of non-cooperative jurisdictions in tax matters – click here;
- El Salvador's Tax Authority publishes list of tax havens for 2024 – click here;
- Australia: Guidance on CRS circumvention schemes – click here;
- Trinidad and Tobago: Direct and indirect tax measures proposed in 2024 budget – click here;
Romania
- The European Directive on Minimum Corporate Tax - a major change of the international taxation and its impact in Romania (RO) – click here or here or here;
- NAFA: Calendar of tax returns submitting deadlines in October 2023 (RO) – click here;
- The Finance Minister said that new fiscal measures will probably be necessary soon in order to not exceed the 5.5% of GDP budget deficit target (RO) – click here;
- Allianz Trade analysis: Romania's GDP will grow by 2.8% this year, and 3.2% next year. What fiscal consolidation measures are European countries implementing? (RO) – click here;
- The head of the International Monetary Fund (IMF) mission in Romania: Many more measures are necessary to increase efficiency, incomes in general / 3% of GDP budget deficit will not be reached in 2024 (RO) – click here or here;
- Ciolacu, after meeting with IMF representatives: no new taxes will be necessary. The major risk of paying the 0.5% of GDP fine has been totally overcome (RO) – click here;
- The Ministry of Finance will inspect those institutions with cost overruns of more than 20% (RO) – click here or here or here;
- VIDEO Deloitte Conference – "Electronic invoicing" (RO) – click here;
- Generalized e-invoicing, one step closer to implementation. When will paper invoices disappear? (RO) – click here or here;
- Ciolacu: After the NAFA digitization, approximately in 2025 tax reform will be implemented - with a proper flat rate, no exceptions, or progressive taxation (RO) – click here;
- DAC7 reporting: what information is included in the F7000 form used by online platform operators (RO) – click here;
- What VAT rates will change from 1 January 2024 (RO) – click here;
Webinars
- ANAF webinars in October 2023 – click here;
TP Cases
- Opinion Statement ECJ-TF 3/2023 on Case C-322/22: Right to be paid interest on overpayment of taxes in breach of EU Law – click here;
- High Court of Cassation and Justice invalidates a common, illegal and damaging practice of NAFA regarding the reclassification of per diems as salary income – click here.
