International Tax Europe and Africa December 2018 - January 2019
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 December 2018 and 15 January 2019.
|European Union||Luxembourg||Poland||United Kingdom|
For a full summary of global tax developments, visit home.kpmg/taxnewsflash.
To contact the International Tax Team email firstname.lastname@example.org.
To register for the International Tax webcasts, click here.
|Tax area concerned||Relevant date||Description of measures and publication link|
|Proposed legislation||CFC||December 2018||
A draft regulation regarding controlled foreign corporation taxation has been issued.
|Tax legislation approved and regulatory update||CFC / Corporate income tax||December 2018||
Legislative changes in Bulgaria include measures that reflect the implementation of EU rules addressing tax avoidance.
|Proposed legislation||VAT||December 2018||
Changes to VAT law proposed for 2019 include a proposed reduction to the standard VAT rate, with the reduction to 20% (or possibly 19%), and the “reduced VAT rate” being 10%.
|Tax legislation approved and regulatory update||ATAD||January 2019||
EU Anti-Tax Avoidance Directive was transposed into Maltese law. This includes measures in relation to interest limitation, exit taxation, GAAR and controlled foreign company rules.
|Tax legislation approved and regulatory update||Royalty tax / Mining||December 2018||
The South African Revenue Services is introducing a new system for the royalty tax.