European Commission News

Czech Republic Drafts Digital Services Tax Law

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, September 5, 2019

On September 5, 2019, the Government of the Czech Republic received from the Ministry of Finance draft legislation for the introduction of a temporary digital services tax, which was first announced in April 2019. Read Full Story

Poland Urges EU To Quickly Pass VAT Rate Reforms

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

Polish Finance Minister Marian Banas has urged the Finnish presidency of the European Union to press ahead with reform of EU VAT rate rules, to enable the country to reduce the rate of VAT on children's clothing and footwear. Read Full Story

Austria To Introduce New Angel Investor Tax Breaks

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 8, 2019

The European Commission has approved an Austrian tax incentive for mid-sized business financing companies. Read Full Story

New EC President Announces Plans For EU Carbon Border Tax

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, July 25, 2019

The newly elected President of the European Commission, Ursula von der Leyen, who was formerly Germany's defense minister, has proposed the introduction of a new Carbon Border Tax, which would be included in a new "Green Deal for Europe" she has promised to deliver within her first 100 days in office. Read Full Story

UAE Introduces CbC Reporting, Economic Substance Rules

by Lorys Charalambous, Tax-News.com, Cyprus

Tuesday, July 16, 2019

The UAE has recently passed legislation to introduce new country-by-country reporting requirements and new economic substance requirements. Read Full Story

EU Agrees Largest Ever Trade Deal, With Mercosur Bloc

by Ulrika Lomas, Tax-News.com, Brussels

Friday, July 5, 2019

The EU and Mercosur have reached a political agreement on a new trade agreement that will save EU businesses an estimated EUR4bn (USD4.5bn) worth of duties a year. Read Full Story

EU Court Rules For Hungary In Advertising Tax Dispute

by Ulrika Lomas, Tax-News.con, Brussels

Friday, July 5, 2019

On June 27, 2019, the General Court of the European Union annuled a decision by the European Commission which found that the Hungarian advertisement tax was incompatible with the EU state aid rules. Read Full Story

French Lawmakers Agree Digital Tax Law

by Ulrika Lomas, Tax-News.con, Brussels

Friday, July 5, 2019

A joint committee of lawmakers from the French House of Representatives and the Senate has agreed on a bill to introduce a digital services tax in France. Read Full Story

New EU Requirements For IFRS Financial Statements From 2020

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

The European Commission has announced that listed companies that prepare consolidated financial statements using IFRS Standards will be required to tag their primary financial statements using the IFRS Taxonomy for financial years starting on or after January 1, 2020. Read Full Story

EU Takes Action Against Spain Over Rules On Reporting Of Assets

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 13, 2019

The European Commission is taking Spain to the Court of Justice over the imposition of "disproportionate" sanctions for failure to report assets held abroad. Read Full Story

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