Europe & African region International Tax Newsletter

This guide presents tables that summarize the taxation of income and gains from listed securities in 115 markets around the world as of December 31, 2019.

• Read more

KPMG in Algeria prepared a summary of tax-related provisions in the Finance Law 2020.

• Read more

The new government published its plans for governing. Among the tax changes that could be proposed are the following

- A reduction of the rate of corporate income tax from 25% to 21%

- A taxpayer right to request a tax audit.

• Read more

A Royal Decree implements the “earnings stripping rules”—that is, the rules that limit certain interest deductions pursuant to legislation enacted in late 2017. The Royal Decree clarifies certain aspects of the earnings stripping rules, but some issues remain unresolved.

• Read more

Taxpayers in the financial services sector may anticipate that the year 2020 will bring various tax changes in legislation, administrative practice, and case law.

• Read more

Tax amendments effective 1 January 2020 concern corporate profit (income) tax, individual (personal) income tax, and the value added tax (VAT) regimes.

• Read more

Changes to the taxation of insurance companies are among the tax legislative items that were effective beginning January 2020.

• Read more

A new income tax treaty between the Czech Republic and South Korea entered into force at the end of 2019.

• Read more

The EU Tax Centre prepared a summary of EU tax developments that can have both a domestic and a cross-border impact.

• Read more

This seventh Special Edition Euro Tax Flash summarizes the most recent status of the implementation of the new rules into Member States’ domestic legislation.

• Read more

EU Member States must make the registers of beneficial owners of companies publicly accessible following implementation of the fifth EU Anti-Money Laundering Directive.

• Read more

KPMG Avocats prepared an overview of certain corporate tax provisions included in the Finance Law for 2020—in particular, measures that may affect foreign taxpayers and their business operations in France.

• Read more

There are reports indicating that France will delay collection of the digital services tax payments due in April and October 2020.

• Read more

Returns of information for employee share participation schemes with respect to 2019 must be filed by 31 March 2020.

• Read more

The Budget Law for 2020, enacted in late December 2019, introduces a digital services tax. The rate of the digital services tax is 3%.

• Read more

KPMG in Italy prepared a summary of the tax measures included in the Budget Law for 2020.

• Read more

Amendments to the corporate income tax concern the increased taxation of credit institutions’ profits earned during the tax periods 2020-2022 in Lithuania.

• Read more

Representatives of the governments of Mauritius and Kenya in April 2019 signed an income tax treaty and a protocol for the avoidance of double taxation. The treaty agreements were ratified by Mauritius in late 2019.

• Read more

A bill referred to as the Digital Government Act  sets out foundations for further digitization, including regulation of digital government and, more specifically, facilities within the governmental “generic digital infrastructure”.

• Read more

The Court of Justice of the European Union rendered its opinion concerning the compatibility with EU law of the Dutch withholding tax on dividends distributed to non-resident investment funds. The case is: Köln-Aktienfonds Deka case (C-156/17).  

• Read more

The Minister of Finance announced that implementation of the VAT rate of 7.5% will be effective beginning 1 February 2020.

• Read more

KPMG in Nigeria has produced a report providing a summary of developments concerning tax and regulations in Nigeria in 2019 and expectations for 2020.

• Read more

Amendments to tax provisions in the Finance Bill for 2019 mostly concern the hydrocarbon sector. The Finance Bill for 2020 introduced tax incentives for small and medium-sized enterprises in the digital sector.

• Read more

The first carbon tax payment will be due by the end of July 2020.

• Read more

KPMG in South Africa has prepared a video discussion of the research and development tax incentive in South Africa.

• Read more

The Swedish government has proposed legislation relating to research and development and specifically to provide enhanced relief relating to social security contributions for salary and wages paid to eligible employees involved in R&D projects.

• Read more

The deadline for the referendum against the new Ticino tax law expired on 7 January 2020; thus, the corporate tax law adjustments are effective retroactively to 1 January 2020.

• Read more

The Swiss federal law on tax reform and AHV financing —while mainly focusing on corporate taxation—has implications for certain individual taxpayers.

• Read more

The Swiss federal high court issued a decision in a case concerning what is referred to as a “perceived dividend stripping transaction.”.

• Read more

New anti-abuse rules question the legitimacy of considering tax issues when deciding where to establish a holding company and put such structures at risk.

• Read more

The final UK regulations to implement the EU Directive on administrative cooperation in the field of taxation (DAC 6) were issued in January 2020.

• Read more

HM Revenue & Customs updated guidance under the section 75A anti-avoidance legislation.

• Read more

It has been announced that the 2020 budget is scheduled to be presented on 11 March 2020.  

• Read more  

HM Revenue & Customs confirmed that it will no longer seek to raise charges for late-payment interest on unpaid withholding tax on intra-EU transactions.

• Read more