Europe

  • Dexit, Frexit, Polexit: debates about the exit of large economies from the EU are reviving on the eve of the European Parliament elections – click here;
  • AG (advocate general) elaborates on legal professional privilege and exchange of information on request – click here;
  • CFE’s Tax Top 5 – 3 June 2024 – click here;
  • Reasoned opinions sent to six Member States for incomplete transposition of the EU Public Country-by-Country (CbyC) Reporting Directive – click here;
  • Germany: Consultation launched on draft tax return for Pillar Two purposes – click here;
  • Belgium: Urgent Registration Requirement for Belgian Entities Under Pillar Two Rules – click here;
  • Spain publishes synthesized text of tax treaty with Armenia under BEPS MLI – click here and here;
  • Italy: Decree on Pillar Two transitional safe harbor rules published – click here and here and here;
  • Greece: New code of tax procedures revises tax system – click here;
  • Cyprus issues new clarifications on transfer pricing rules – click here;
  • Bulgaria: US, Bulgaria sign CbC exchange agreement – click here;
  • Serbia: Rulebook on arm’s length interest rates for 2024 – click here for the press release and here for the report;

Global

  • United States negotiates CbC exchange deal with Dominican Republic – click here;
  • Australia publishes synthesised text of tax treaty with China regarding BEPS MLI – click here;
  • Australia: Public country-by-country reporting bill introduced into parliament – click here and here;
  • Australia Passes Comprehensive Tax Legislation: Key Changes for Financial Advisors, Petroleum Exploration, and Transfer Pricing – click here;
  • Barbados: Tax reform enacted, including Pillar Two legislation – click here;
  • Fiji and Moldova join inclusive framework and agreement on international tax reform – click here;
  • Azerbaijan approves BEPS MLI agreement – click here;
  • Malaysia publishes synthesised text of tax treaty with Luxembourg under BEPS MLI – click here;
  • OECD: Updated FAQs released on International Compliance Assurance Programme – click here and here;
  • OECD: Pillar One update: Statement released from co-chairs of BEPS inclusive framework – click here and here;
  • OECD: Guidance on implementation of CbC reporting updated (May 2024) – click here and here and here for the press release and here for the OECD guide;

Romania

  • Sanctions applied by NAFA increased in the first five months by 163%, to RON 171 million (RO) – click here and here and here;
  • The calendar of the fiscal obligations for June 2024: What are the fiscal obligations that taxpayers need to fulfil this month (RO) – click here and here to read the press release and click here to read the NAFA fiscal agenda;
  • Ana Sebov and Cristina Pop, PwC: New regulations on preventing and combating money laundering and intensifying the inspections of the financial institutions in EMEA (Europe, Middle East and Africa) (RO) – click here;
  • NAFA online seminars in June 2024: Income tax for micro-enterprises, taxation of rents and others (RO) – click here; The online registration can be performed here;
  • Companies may be fined during NAFA inspections for invoices prior to May 31 that are missing from the e-Invoice system (RO) – click here;
  • Project of the Ministry of Finance: amending and supplementing Law no. 227/2015 regarding the Fiscal Code, as well as other fiscal measures (RO) – click here for the press release and here for the project of the Government Emergency Ordinance (GEO);
  • Updated Common Reporting Standard (CRS) guidance on OECD FAQs (RO) – click here for the press release; The OECD guide can be read here;

TP Cases

  • United States: Eleventh Circuit: IRS violated APA notice and comment procedures in issuing Notice 2017-10 (RO) – click here.

 

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Note: Please note that TPS could not be held responsible for the content and accuracy of the information obtained by accessing these websites, nor for the consequences resulted from any activities one performs based on this information. Even though we are monitoring the outbound links, we do not have control over the availability of the information offered by external references or how often the information is updated.

Contacts

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phone: 0040 742 159 142

 

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