This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Europe and Africa regions between 1 February and 28 February 2018.
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Corporate income tax / Tax losses - 15 February 2018
The Austrian Federal Finance Court issued a decision concerning the ability of a company to carry forward its tax losses in instances when there is a change in the organizational structure of the company.
Individual taxation - 30 September 2018
The Belgian Parliament passed legislation introducing an annual tax at a rate of 0.15 percent on the value of certain securities accounts of individuals (both Belgian tax residents and non-residents).
Labor law - 21 February 2018
The Court of Justice of the European Union issued a judgment concluding that the stand-by time of a worker at home who is obliged to respond to calls from the employer within a short period must be regarded as “working time” as defined by EU law. The case is: Ville de Nivelles v. Matzak (C-518/15).
Corporate income tax / Transfer pricing - 2018
The 2018-2019 budget was presented to the national assembly. Among other, amendments would introduce transfer pricing rules and would aim to address a perception that Botswana is a “tax haven.”
Corporate income tax - 1 January 2018
Tax provisions in Croatia, effective beginning 1 January 2018, include:
Corporate income tax / Individual taxation - 2019
The first draft of an amendment to the income tax law, would implement certain tax law changes expected to be effective in 2019. Changes would affect:
VAT - 1 January 2019
The Czech Ministry of Finance submitted a draft amendment to the VAT law that would be effective January 2019.
Corporate income tax / Permanent establishment - 21 February 2018
Advocate General Campos of the Court of Justice of the European Union issued his Opinion on a case concerning the compatibility with EU law of the Danish rules on the deductibility of losses from a Danish permanent establishment whose head office is not tax resident in Denmark. The case is: NN A/S (C-28/17).
Anti-tax avoidance - February 2018
The French Constitutional Court is expected to issue a decision that will address whether an anti-avoidance tax provision of French tax law—concerning the rules on the recapture of financial expenses of a French tax group in instances of corporation acquisitions—is constitutional.
VAT - 2021
The Council of the EU in December 2017 adopted measures intended to simplify the VAT system for online businesses in the EU.
Corporate income tax - 7 February 2018
The Advocate General of the Court of Justice of the European Union issued his opinion on a case concerning the compatibility of the German participation exemption regime applicable to dividends originating in third countries with the free movement of capital. The case is: EV v Finanzamt Lippstadt (C-685/16).
VAT - February 2018
KPMG in Ireland prepared a summary of recent VAT developments and case law.
Various tax areas - 20 February 2018
The Treasury Minister delivered his second Manx Budget introducing several tax measure.
Individual taxation - February 2018
The Budget Law 2018 includes measures that may affect the taxation of high net-worth individuals.
Individual taxation/ Labor law - 14 February 2018
Dutch government officials sent a letter to the Lower House of Parliament announcing a delay to an “employment relationships deregulation” law.
Beneficial owner - January 2018
A draft decree provides definitions of who is an “ultimate beneficial owner” (UBO) and clarifies the categories of persons regarded as the UBO for purposes of the UBO register.
Corporate income tax / Fiscal unity - February 2018
The Court of Justice of the European Union rendered its decision in two cases on the Dutch fiscal unity regime. The cases are: C-398/16 and C-399/16.
Various tax areas - February 2018
KPMG in Nigeria prepared a report which reviews the budget proposals for 2018 and highlights how the proposed policy changes will affect the Nigerian business environment from business, regulatory and tax perspectives.
Nigerian Tax Journal 2018 - February 2018
The second edition of the Nigerian Tax Journal contains a summary of significant decisions on tax cases (that became publicly available) in 2017.
Tax amnesty - December 2017
KPMG in Nigeria prepared a factsheet on the Nigerian tax amnesty.
Energy taxation - 14 February 2018
An OECD report describes patterns of energy taxation in 42 OECD and G20 countries (representing approximately 80 percent of global energy use), by fuels and sectors over the 2012-2015 period.
Environment fund - 7 February 2018
The new instructions for completing and submitting the declaration on obligations to the Environment Fund form now allow this to be submitted in electronic format.
Individual taxation - 15 May 2018
In Serbia, the deadline for filing annual individual income tax returns for 2017 is 15 May 2018.
Corporate income tax / Tax compliance - 26 February 2018
The South African Revenue Service announced enhancements to the income tax return for companies.
VAT - 1 April 2018
The Minister of Finance announced an increase in the rate of VAT to 15 percent, effective beginning from 1 April 2018.
Carbon tax - 5 February 2018
A second draft of a carbon tax bill has been released for public comment and introduced in Parliament.
Various tax areas - 21 February 2018
The Finance Minister delivered the 2018 budget for South Africa, which includes tax and revenue raising proposals.
Gambling - February 2018
KPMG in Sweden prepared a report summarizing a proposal to regulate the gambling market and strengthen the protection of the players.
Various tax areas - March 2018
The Swiss Federal Council has decided not to make significant changes to the “Tax Proposal 17” from the version provided for consultation, and the final legislative proposal is expected at the end of March 2018.
Various tax areas - 2 February 2018
New or revised HMRC guidance has been published covering changes to the rules for non-doms, offshore trusts and business investment relief.
Hybrid mismatches - 2 February 2018
KPMG in the UK takes a detailed look at the updated hybrids guidance and legislative amendments in Finance Bill 2018.
Inheritance tax - 9 February 2018
HMRC guidance published covering changes to the inheritance tax deemed domicile rules and new rules extending scope of inheritance tax to UK residential property.
Corporate interest restriction - 31 March 2018
A 31 March 2018 deadline is looming for many groups to take certain steps in relation to the new corporate interest restriction regime.
Trade - 31 July 2018
New HMRC guidance on the application of End Use relief will impact businesses who import goods when the use or end destination is not known.
Corporate income tax / Intangible fixed assets regime - 23 February 2018
The Government is seeking comments on how the UK’s intangible fixed assets regime could be amended to help support the competitiveness of UK businesses.