International Tax - Europe and Africa, May 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 May and 31 May 2019.
|Czech Republic||Italy||South Africa|
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|Proposed legislation||Tax reform||17 May 2019||
The Austrian Ministry of Finance published a draft bill regarding a tax reform for 2019-20. Among the measures being proposed are the following:
|Administrative and case law||VAT||May 2019||
The Belgian VAT authorities have recognized that pharma contributions paid by pharma companies to a public health insurer may be eligible for a reduction of VAT owed on certain sales of medicines.
|Tax legislation approved and regulatory update||ATAD||7 May 2019||
Among the tax law changes included in tax legislation in Greece are anti-avoidance rules that generally align Greek tax law with the EU anti-tax avoidance directive (ATAD).
|Tax legislation approved and regulatory update||Brexit||May 2019||
Italy has enacted a regime for UK entities currently conducting business operations in Italy and for Italian entities conducting business in the UK, in the event the UK leaves the EU without a deal.
|Tax legislation approved and regulatory update||Tax incentives for individuals||30 April 2019||
Law Decree no. 34 includes measures expanding an existing tax incentive program for certain individuals.
|Tax legislation approved and regulatory update||Tax incentives||1 May 2019||
A decree of “urgent economic growth measures” was published in the official gazette. The decree introduces the following tax incentives:
|Tax legislation approved and regulatory update||VAT||1 January 2021||
VAT measures are included in a decree concerning “urgent economic growth measures”. The decree delays the effective date of the VAT imposed with regard to remote sales of certain imported goods.
|Administrative and case law||State aid/WHT||2 May 2019||
|Proposed legislation||Chemical tax||May 2019||
A tax on chemicals used with respect to certain electronic products was introduced in Sweden in 2017. The Swedish government now appears ready to expand the scope of the chemical tax.