EU Urges Switzerland To Secure Tax Reform’s Passage
The European Council has called for the swift enactment of Switzerland’s proposed corporate tax reform package. The recommendation was one of a number of conclusions adopted by the Council regarding the EU’s relations with the Swiss Confederation. The Council said…
Read moreUpcoming German Tax Law Changes Relevant To Real Estate Investments
On 1 August 2018, the German Ministry of Finance published the amended draft bill of the Annual Tax Act 2018 which will be subject to further discussions in the parliament in the coming months. Furthermore, the States’ Ministers of Finance…
Read moreSwitzerland A Step Closer On Corporate Tax Reform
The two houses of Switzerland’s parliament have said that they are largely in agreement on the main points of the Government’s proposed changes to the corporation tax system. On September 12, the National Council approved tax proposal 17 (TP17). The…
Read moreSwitzerland To Hand Over HSBC Data To India
India is to receive bank account information from HSBC after Switzerland’s highest court ruled that the bank is obligated to provide data requested where the leaked data has not been purchased. The information was leaked in 2008 by Herve Falciani,…
Read moreDutch Probe Into Intellectual Property Tax Avoidance
The individual who manages intellectual property rights for music groups including the Rolling Stones and U2 has denied that corporate structures were set up in the Netherlands to avoid tax in recent parliamentary testimony. On June 12, Jan Favie, a…
Read moreSwiss Federal Council Agrees To Tax Reforms
The Swiss Federal Council has asked the Federal Department of Finance to prepare a consultation on a draft tax reform package by September. Earlier this month, the steering body tasked with drawing up “tax proposal 17” (TP17) published its recommendations….
Read moreSwitzerland Explains BEPS Changes To Treaty Network
Switzerland has explained how it will amend its double tax agreements after it signed the OECD’s new multilateral tax compact to implement anti-base erosion and profit shifting measures. On June 7, Switzerland was one of 76 countries and jurisdictions to…
Read moreSwiss voters reject reform to multinationals’ tax bills
Swiss voters have rejected a plan to reform the country’s corporate tax system, sending the government back to the drawing board. Business and political circles in Switzerland had supported the plan, which was designed to prevent taxes rising sharply for foreign…
Read moreCyprus, India Tax Treaty To Take Effect In 2017
The revised double tax avoidance agreement between India and Cyprus will take effect from April 1, 2017, India’s Central Board of Direct Taxes has announced. According to the CBDT, both countries have now exchanged notifications informing the other of the…
Read moreHMRC Warns Against Use Of New CGT Avoidance Scheme
UK tax authority HM Revenue and Customs (HMRC) has said that it is aware of a new tax avoidance scheme that attempts to exploit Entrepreneurs’ Relief by turning what would be income into a capital gain. According to HMRC, individual…
Read moreValue-Added Tax – VAT Germany
In Germany, all entrepreneurs who are engaged and independently active in a trade, business or profession with the purpose of generating income, are liable to value-added-tax also known as the turnover tax (Umsatzsteuer). The following information on VAT is a…
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- December 12, 2014
EU VAT Changes 2015
There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.
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