© 2023 Bloomberg Industry Group, Inc.

https://news.bloombergtax.com/daily-tax-report-international/slovenia-parliament-considers-bill-to-ratify-second-protocol-to-1996-dta-with-switzerland

#bloombergtax

The Latvian State Revenue Service July 12 announced the Jan. 31, 2024, first declaration deadline for digital platform operators to report 2023 reportable seller information for activities covered under domestic provisions implementing EU Directive 2021/514 (DAC7), on the mandatory automatic exchange of information (AEOI) on financial accounts. The announcement also includes: 1) the electronic reporting procedure; 2) the definition of a digital platform operator (DPO); 3) when the reporting obligation arises for a DPO; and 4) what information a DPO must submit to the Tax Agency on sellers.

https://news.bloombergtax.com/daily-tax-report-international/latvia-tax-agency-announces-reporting-deadline-for-digital-platform-operators-under-dac7

#bloombergtax

The Latvian State Revenue Service July 12 announced Q2 filing and payment deadlines for tax on capital gains, for individual income tax purposes. The announcement includes: 1) the July 17 filing deadline for declaring Q2 income from capital gains if over 1,000 euros (US$1,119); 2) the July 24 deadline to pay Q2 tax at the 20 percent capital gains rate; 3) a list of capital assets, such as shares, real estate, intellectual property, and digital currency; 4) information on when payment of individual income tax on capital gains isn't required, based on the duration of asset possession or reinvestment of .

https://news.bloombergtax.com/daily-tax-report-international/latvia-tax-agency-announces-q2-capital-gains-filing-payment-deadlines-individuals

#bloombergtax

The Mauritian National Assembly July 11 accepted for consideration Bill No. XI, the 2023-24 Finance Bill, to implement budget measures. The bill includes measures to: 1) establish the Aug. 15 annual deadline for digital asset service providers to submit statements of financial transactions; 2) expand deductions for companies engaged in the manufacture of alcoholic and non-alcoholic beverages, for expenditures on new plants and machinery, and extend the deductions through 2026; 3) apply land transfer tax where the value transferred exceeds 200,000 rupees (US$4,396), based on the value identified in either the deed or a certification from a professional accountant, whichever .

https://news.bloombergtax.com/daily-tax-report-international/mauritius-assembly-considers-2023-24-finance-bill-to-implement-budget-measures

#bloombergtax

The Mauritian National Assembly July 11 accepted for consideration Bill No. XI, the 2023-24 Finance Bill, to implement budget measures. The bill includes measures to: 1) establish the Aug. 15 annual deadline for digital asset service providers to submit statements of financial transactions; 2) expand deductions for companies engaged in the manufacture of alcoholic and non-alcoholic beverages, for expenditures on new plants and machinery, and extend the deductions through 2026; 3) apply land transfer tax where the value transferred exceeds 200,000 rupees (US$4,396), based on the value identified in either the deed or a certification from a professional accountant, whichever .

https://news.bloombergtax.com/daily-tax-report-international/mauritius-assembly-considers-2023-24-finance-bill-to-implement-budget-measures

#bloombergtax

The Norwegian Tax Administration June 5 posted online a binding advance statement clarifying the taxation of sales of separate homes. The taxpayer lived in the condominium at issue for more than one of the last two years, but slept at night in the previous two years in a different condominium he owned due to noise and health issues. The second condominium was only furnished with a bed and two chairs, and the taxpayer didn't use it for cooking or bathing. He kept his personal belongings at the first condominium, where he stayed during the day and worked.

https://news.bloombergtax.com/daily-tax-report-international/norway-tax-agency-clarifies-taxation-of-separate-homes-sales

#bloombergtax

The Moroccan General Tax Administration June 27 posted online the 2023 tax guide for Moroccans residing abroad. Topics covered include: 1) exemption of up to 30,000 Moroccan dirhams (US$3,017) in income from property; 2) a social solidarity contribution exemption for the construction of residential housing with area not exceeding 300 square meters; 3) tax relief on foreign retirement pensions transferred permanently to Morocco, and related documentation requirements; 4) VAT refunds for purchases made in Morocco for consumption abroad; 5) tax exemption criteria for income from the sale of buildings or land; and 6) electronic reporting.

https://news.bloombergtax.com/daily-tax-report-international/morocco-tax-agency-posts-2023-tax-guide-for-moroccans-residing-abroad

#bloombergtax

The Kenyan President June 26 signed the 2023 Finance Law. The law includes measures: 1) allowing the deferral of foreign exchange losses for up to three years from the date of the loss; 2) increasing the turnover tax rate to 3 percent from 1 percent, and including persons with turnover between 500,000 Kenyan shillings (US$3,559) and 15 million shillings (US$106,802); 3) taxing repatriated income of nonresidents conducting business in Kenya through a permanent establishment (PE); 4) establishing a 3 percent digital assets tax on income derived from the transfer or exchange of digital assets; 5) introducing various income tax exemptions .

https://news.bloombergtax.com/daily-tax-report-international/kenya-president-signs-2023-finance-bill

#bloombergtax

The Belgian Federal Public Service-Finance June 21 posted online a synthesized text, in English, of the 1969 DTA, and 1999 and 2009 protocols, with Denmark and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), which entered into force Jan. 1, 2020. The MLI applies from: 1) Jan. 1, 2020, for withholding taxes; 2) taxable periods beginning on or after July 1, 2020, for all other taxes in Belgium; and 3) taxable periods beginning on or after Jan.

https://news.bloombergtax.com/daily-tax-report-international/belgium-mof-posts-synthesized-text-of-dta-protocols-with-denmark-in-english

#bloombergtax

The French General Directorate of Public Finance June 26 issued an administrative doctrine on the taxation of individual income under the family quotient regime. The doctrine explains that: 1) a 5.4 percent indexation rate applies to the applicable tax brackets and to the related limits and thresholds; 2) this revaluation applies starting with the tax due in 2023 for tax year 2022 income; and 3) the revaluation is related to the capping of the maximum tax advantage provided by the additional half shares of the family quotient.

https://news.bloombergtax.com/daily-tax-report-international/france-tax-agency-issues-administrative-doctrine-on-individual-income-taxation-under-family-quotient-regime

#bloombergtax

The European Union Official Gazette June 19 published European Court of Justice (ECJ) Preliminary Ruling No. C-127/22, on Bulgarian VAT deduction rules. A Bulgarian company wrote off various goods, and adjusted the related input VAT deductions. The Tax Agency denied the company's refund request. Upon a request for a preliminary ruling, the ECJ held that: 1) the EU VAT directive precludes national legislation that allows taxpayers to adjust input VAT deductions for disposals that cause goods to lose all usefulness in the taxable person's economic activities; 2) the sale of goods written off as waste doesn't create a change in .

https://news.bloombergtax.com/daily-tax-report-international/european-union-gazettes-ecj-preliminary-ruling-on-bulgarian-vat-deduction-rules

#bloombergtax

The Norwegian Tax Administration May 4 posted online Tax Appeals Board Decision No. SKNS1-2023-23, clarifying the taxation for the sale of property with residential house. The taxpayer owned a property with a residential house and a separate outbuilding with no vacant space for further development of housing. The taxpayer planned to sell the property above market value and sought to clarify whether the property sale must be considered a tax-free sale of housing under the Wealth and Income Tax Act.

https://news.bloombergtax.com/daily-tax-report-international/norway-tax-agency-posts-board-ruling-on-taxation-for-sale-of-property-with-residential-house

#bloombergtax

The Russian Government June 15 submitted Bill No. 369931-8, to provide taxation of the specified land plots occupied by the housing stock. The bill includes measures to: 1) apply a preferential land tax rate not exceeding 0.3 percent of the cadastral value; and 2) implement a tax rate not exceeding 1.5 percent for parts of the plot occupied by other real estate objects. [Russia, Federal Tax Service, 06/15/23] Reference: View Announcement . View Index . Log in to keep reading or access research tools.

https://news.bloombergtax.com/daily-tax-report-international/russia-submits-bill-to-provide-taxation-of-specified-land-plots-occupied-by-housing-stock

#bloombergtax

The Kenyan Official Gazette March 21 published Legal Notice No. 29/2023, implementing 2023 VAT regulations for digital, electronic, and internet marketplace supplies. The law includes measures: 1) defining relevant terms and establishing the scope of taxable supplies provided through the digital economy; 2) clarifying that VAT applies to taxable supplies made in Kenya; 3) providing for a simplified tax registration framework, registration procedures, place and time of supply rules, and the amendment of returns; 4) exempting certain suppliers from issuing an electronic tax receipt, and prohibiting them from deducting input tax for supplies made through a digital marketplace; 5) establishing .

https://news.bloombergtax.com/daily-tax-report-international/kenya-gazettes-legal-notice-on-2023-digital-vat-regulations

#bloombergtax

The Macanese Secretary of Economy and Finance June 2 announced tax obligations for June. The announcement includes: 1) the requirement that hotels, dance halls, bars, goods and services directly or indirectly provided by health clubs, steam baths, massage parlors, karaoke, and other places, pay a 5 percent tourism tax for the previous month and file monthly M/7 returns; 2) income declaration requirements for supplementary income tax group A and submission of M/1 returns; 3) payment requirements for housing taxes and stamp duty; and 4) the requirement that individuals and entities selling new motor vehicles file an M/4 declaration and pay .

https://news.bloombergtax.com/daily-tax-report-international/macau-economy-ministry-announces-tax-obligations-for-june-2023

#bloombergtax

The Chinese State Administration of Taxation June 6 posted online a synthesized text, in English and Chinese, of the 2014 DTA and protocol, last amended in 2015, with Russia and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), which entered into force Sept. 1, 2022. The MLI applies from: 1) Jan. 1, 2024, for withholding taxes; 2) taxable periods beginning on or after Sept. 9, 2023, for all other taxes in China; and 3) taxable periods beginning on or after Jan.

https://news.bloombergtax.com/daily-tax-report-international/china-tax-agency-posts-synthesized-text-of-dta-protocol-with-russia-in-english-chinese

#bloombergtax

The Estonian Parliament (Riigikogu) June 6 accepted for consideration Bill No. 225 SE, to transpose the EU Council Directive on requirements for payment service providers. The bill includes measures that would: 1) align Estonia's VAT fraud laws with EU regulations, effective Jan. 1, 2024; 2) provide administrative tools to more effectively combat VAT fraud in international e-commerce; 3) require payment service providers in Estonia, including domestic and foreign banks and payment institutions, e-money institutions, credit institutions, and postal service providers, to maintain electronic records of cross-border payments and beneficiaries every quarter; 4) require payment service providers to maintain electronic records .

https://news.bloombergtax.com/daily-tax-report-international/estonia-parliament-considers-bill-to-transpose-eu-directive-on-measures-for-payment-service-providers

#bloombergtax

The Spanish Ministry of Finance and Public Administration June 1 posted online a synthesized text of the 1990 DTA and protocol with Bulgaria and the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), which entered into force Jan. 1. The MLI applies from: 1) Jan. 1, 2024, for withholding taxes; and 2) taxable periods beginning on or after Jan. 1, 2024, for all other taxes. The synthesized text is to facilitate the application of the MLI but isn't a source of law.

https://news.bloombergtax.com/daily-tax-report-international/spain-mof-posts-synthesized-text-of-dta-protocol-with-bulgaria

#bloombergtax

The Spanish Official Gazette May 25 published Law No. 13/2023, introducing new interest deduction limitation rules, and amending various tax measures. The decree includes measures: 1) allowing deduction on net financial expenses with a limit of 30 percent of the operating profit for the year; 2) providing that the net financial expenses of the tax period amounting to 1 million euros (US$1.06 million) will be deductible; 3) allowing taxpayers to carry forward the amount not deducted to the following tax periods, and difference for up to five years; 4) amending implementation of DAC6 to provide that an intermediary subject to .

https://news.bloombergtax.com/daily-tax-report-international/spain-gazettes-law-introducing-new-rules-of-interest-deduction-limitation-amending-various-tax-measures

#bloombergtax

Log in to keep reading or access research tools. © 2023 Bloomberg Industry Group, Inc.

https://news.bloombergtax.com/daily-tax-report-international/brazil-senate-passes-bill-to-allow-income-tax-deductions-for-donations-to-specific-research-projects

#bloombergtax

The Croatian Official Gazette March 8 published Regulation No. 448, implementing the EU Council Directive on the mandatory automatic exchange of financial account information (AEOI) for digital platform operators (DAC7). The regulation includes measures: 1) defining key terms, including platform, platform operator, relevant activity, reportable seller, and excluded seller; 2) specifying the required information to be submitted for in-depth analysis, which platform operators must collect, verify, and report by Jan.

https://news.bloombergtax.com/daily-tax-report-international/croatia-gazettes-regulation-incorporating-dac7-eu-directive-on-aeoi-for-digital-platform-operators

#bloombergtax

The Singaporean Inland Revenue Authority April 6 updated an e-tax guide to clarify the applicability of zero-rated GST to travel arranging services, as of Jan. 1. The updated guide explains that: 1) services provided on or after Jan. 1, for arranging or facilitating the booking of accommodations, are excluded from the application of zero-rated GST; and 2) the GST treatment for travel arranging services depends on the tax residency of the customer and direct beneficiary of the services. [Singapore, Inland Revenue Authority of Singapore, 04/06/23] Reference: View Updated e-Tax Guide .

https://news.bloombergtax.com/daily-tax-report-international/singapore-tax-agency-updates-e-tax-guide-to-clarify-zero-rated-gst-for-travel-arranging-services

#bloombergtax

Sept. 12, 2022, 5:00 AMThe Omani Secretariat General for Taxation Aug. 24 issued a VAT guide for transactions conducted in e-commerce. Topics covered include: 1) relevant definitions; 2) what is considered e-commerce; 3) the mandatory VAT registration threshold; 4) the VAT registration requirement for nonresident suppliers engaging in e-commerce activities who are obligated to collect VAT for their supplies to Oman; 5) rules for applying VAT to supplies of goods and services within the e-commerce sector; 6) services supplied electronically by agents; 7) input tax deductions and input tax incurred by agents; 8) the place of actual use or benefit as the place of .

https://news.bloombergtax.com/daily-tax-report-international/oman-tax-agency-issues-vat-guide-on-e-commerce-1

#bloombergtax

Aug. 31, 2022, 5:00 AMThe Singaporean Inland Revenue Authority Aug. 29 updated 11 GST e-Tax guides on the aerospace industry, approved refiner and consolidator regime (ARCS), the marine industry, the logistics service industry, e-commerce, approved marine customer regime (AMCS), approved import GST suspension regime, approved contract manufacturer and trader regime (ACMT), the biomedical industry, the approved third-party logistics company regime, and the re-import of value-added goods. Topics covered include: 1) the expansion of the overseas vendor registration (OVR) regime to apply to imported non-digital services and low-value goods, starting Jan.

https://news.bloombergtax.com/daily-tax-report-international/singapore-tax-agency-updates-gst-e-tax-guides-for-various-services

#bloombergtax

Sept. 27, 2022, 5:00 AMThe Latvian Parliament (Saeima) Sept. 21 accepted for consideration Bill No. 1630, to reduce the VAT rate to 5 percent on the supply of specific medicines, including prescription, nonprescription, and compensable medicines. The measure would be effective Nov. 1. [Latvia, Parliament, 09/21/22] Reference: View Bill No. 1630. View Index. © 2022 The Bureau of National Affairs, Inc. All Rights Reserved

https://news.bloombergtax.com/daily-tax-report-international/latvia-parliament-considers-bill-to-reduce-vat-rate-on-specific-medicines

#bloombergtax

Nov. 7, 2022, 5:00 AMThe Namibian Parliament Nov. 2 considered a bill to amend the income tax law. The bill includes measures to: 1) include additional reasons under which amounts are deemed to have accrued from a source within Namibia; 2) clarify the deduction of contributions made to company-owned policies; 3) increase the tax deductibility of the retirement fund and education policy contributions; 4) provide for the furnishing or serving of a tax return or notice of assessment in electronic format; 5) amend the rules related to the allocation of tax payments; and 6) provide for thin capitalization rules.

https://news.bloombergtax.com/daily-tax-report-international/namibia-parliament-considers-bill-to-amend-income-tax-law

#bloombergtax

Jan. 9, 2023, 5:00 AMThe Bulgarian Official Gazette Dec. 30, 2022, published Decree No. 312, implementing transitional provisions under the 2022 state budget, which includes amending the personal income and corporate income tax laws and setting a windfall tax for electricity producers. The decree includes measures: 1) clarifying the calculation basis for corporate income tax on expenses exceeding 200 Bulgarian leva (US$107) per month per employee for 2023; 2) setting the per-child deduction amounts for 2023 that reduce the monthly tax base for income from employment relationships; and 3) establishing a windfall tax on electric power producers for the period from Dec.

https://news.bloombergtax.com/daily-tax-report-international/bulgaria-gazettes-law-implementing-budget-provisions-amending-income-tax-windfall-tax

#bloombergtax

Log in to keep reading or access research tools. © 2023 Bloomberg Industry Group, Inc.

https://news.bloombergtax.com/daily-tax-report-international/canada-gazettes-consolidated-text-of-income-tax-regulations-20

#bloombergtax

The Finnish Tax Administration May 10 issued updated guidance on the taxation of travel expense reimbursements. The updated guidance includes: 1) clarification that employees receive no taxable benefit when an employer pays travel costs directly; 2) the tax treatment of expenses for mobile employees, and employees using their own homes as a workplace; 3) tax-free allowances for the reimbursement of travel expenses, including the addition of electric bicycles to the list of qualifying vehicles; 4) clarification of the daily allowance for combined leisure time, work travel, and meal allowance; 5) conditions for the exemption of reimbursements of travel expenses by .

https://news.bloombergtax.com/daily-tax-report-international/finland-tax-agency-updates-guidance-on-taxation-of-travel-expense-reimbursements

#bloombergtax