Beginning on December 31, 2013, the qualified intermediary (QI), withholding foreign partnership (WP), and withholding foreign trusts (WT) will be subject to the requirements of a foreign financial institution (FFI). As a result, all QI, WP, or WT agreements currently in effect will expire as of December 31, 2013. A revised QI agreement and WP/WT agreement are expected […]
The European Commission has formally proposed to the Netherlands to abolish the exemption from corporate tax granted to Dutch public undertakings. The Commission considers that public companies that carry out economic activities in competition with private companies should likewise be subject to corporate tax – just as private companies are. Exempting certain companies merely because […]
The overall tax-to-GDP ratio1 , meaning the sum of taxes and social contributions in % of GDP, in the EU272 stood at 38.8% in 2011, from 38.3% in 2010 and 38.4% in 2009. The overall tax ratio in the euro area2 (EA17) increased to 39.5% in 2011, up from 39.0% in 2010 and 39.1% in […]
OECD, Lawmakers Disagree On Future Italian Tax Policy. While Italian politicians have continued to debate the possibility of abolishing the taxation of first residences within the local property tax (IMU)[....]
Switzerland Set To Renegotiate German Tax Deal. Marking a swift and somewhat surprising about-turn, Switzerland has announced its willingness to hold talks with Germany on a new withholding tax agreement between the two countries
Belgium’s Geens Rules Out Further Tax Rises.
Bundesbank President Urges Caution On EU FTT.
Scots To Replace Stamp Duty With Progressive Tax.
The European Commission has referred what it says are Spain’s discriminatory real estate tax rules to the Court of Justice. Spanish legislation exempts from tax any capital gains made from the sale of a permanent residence, if the money is used to purchase another permanent residence. However, as this provision only applies to Spanish residents, […]
Spain Unveils Fresh Fiscal Stimulus Package. by Ulrika Lomas, Tax-News.com, Brussels 29 April 2013 Spain’s Council of Ministers has approved the country’s 2013-2016 stability program, together with a national reform program, providing for a raft of fiscal initiatives. Neither document provides for a rise in any of the major taxes in Spain.