penalties News

Cyprus, US To Begin Exchanging CbC Reports

by Lorys Charalambous, Tax-News.com, Cyprus

Tuesday, September 22, 2020

Cyprus has announced that a deal for the exchange of country-by-country reports between the territory and the US is expected to become effective and cover reporting years starting on or after January 1, 2020. Read Full Story

Germany Releases New VAT Manual For 2019/20

by Ulrika Lomas, Tax-News.com, Brussels

Monday, September 7, 2020

On September 2, 2020, the German Ministry of Finance announced that the official value-added tax manual for 2019/20 has been published online. Read Full Story

UK Issues Final Loan Charge Guidance

by Jason Gorringe, Tax-News.com, London

Friday, August 21, 2020

The UK tax authority has published final guidance on the Loan Charge regime, following the enactment of amendments in the UK Finance Bill 2019-21. Read Full Story

COVID-19: Italian Firms Allowed More Time To Pay Deferred Taxes

by Ulrika Lomas, Tax-News.com, Brussels

Tuesday, August 18, 2020

The Italian Government will allow tax payments that were deferred during the COVID-19 lockdown to be paid in instalments over a two-year period. Read Full Story

Cyprus Announces More COVID-19 Tax Breaks

by Jason Gorringe, Tax-News.com, London

Thursday, June 25, 2020

The Government of Cyprus has announced a number of new tax support measures for businesses, including a value-added tax rate cut for tourism accommodation providers and restaurants. Read Full Story

Netherlands Clarifies COVID-19 VAT Concessions

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, May 28, 2020

On May 25, 2020, the Dutch tax authority said that taxpayers receiving assessment notices for not submitting a value-added tax return on time can apply for a three-month filing extension. Read Full Story

Irish Businesses Seek Tax Support To Bounce Back From COVID-19

by Jason Gorringe, Tax-News.com, London

Thursday, May 28, 2020

Irish business association Ibec has called for the establishment of a Commission on Taxation, as part of a package of measures to "reboot" the economy after the coronavirus pandemic. Read Full Story

COVID-19: UK Extends Deadlines For Input On Tax Reforms

by Jason Gorringe, Tax-News.com, London

Friday, May 15, 2020

The UK tax agency has extended various deadlines for responses to consultations and for other work on tax reform, in light of COVID-19. Read Full Story

South Africa Details New COVID-19 Tax Measures

by Robert Lee, Tax-News.com, London

Friday, May 1, 2020

On April 23, 2020, the National Treasury of South Africa provided further details of the additional COVID-19 tax support measures first announced by President Cyril Ramaphosa on April 21. Read Full Story

IRS Publishes Transfer Pricing FAQs

by Ulrika Lomas, Tax-News.com, Brussels

Friday, May 1, 2020

On April 16, 2020, the United States Internal Revenue Service issued a set of frequently asked questions and answers to help inform taxpayers about transfer pricing documentation best practices. Read Full Story

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