International Tax Europe and Africa August 2022
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 August and 31 August 2022.
For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.
To contact the International Tax Team email internationaltax@kpmg.com.
To register for the International Tax webcasts, click here.
Bulgaria
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Bulgaria |
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Tax legislation approved and regulatory update |
Income tax |
26 August 2022 |
Bulgaria has yet to deposit its instrument of ratification of the MLI with the OECD's Secretary-General. Read more. |
Czech Republic
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Czech Republic |
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Tax legislation approved and regulatory update |
Tax compliance |
09 August 2022 |
The General Financial Directorate (GFD) releases new information on reporting obligations for cross-border arrangements under DAC6. Read more. |
Finland
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Finland |
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Tax legislation approved and regulatory update |
Tax compliance |
25 August 2022 |
Updated Frequently Asked Questions published for FATCA and common reporting standard (CRS) regimes. Read more. |
Germany
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Germany |
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Tax legislation approved and regulatory update |
Income tax |
24 August 2022 |
Retroactive reduction of the interest rate for interest on back taxes and refunds to 0.15% per month for interest periods from 1 January 2019. Read more. |
Administrative and case law |
Income tax |
24 August 2022 |
The German Federal Tax Court held that the premises of a real property management company can be a permanent establishment of the contracting company, even if the contracting company has no power of disposal over the premises, if the contracting company uses the premises to conduct its own business operations. Read more. |
Tax legislation approved and regulatory update |
Income tax |
24 August 2022 |
The simplification procedure for non-resident tax liability when rights listed in domestic registers has been extended. Read more. |
Gibraltar
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Gibraltar |
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Tax legislation approved and regulatory update |
Various tax topics |
04 August 2022 |
Following the recent Gibraltar budget, a bill has been published that provides further information on the measures affecting companies. Read more. |
Hungary
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Hungary |
|||
Tax legislation approved and regulatory update |
Tax compliance |
18 August 2022 |
An updated version of the FATCA filing instructions includes the addition of a series of codes developed by the U.S. tax agency (IRS) that can be used by reporting financial institutions when the account is missing U.S. tax identification numbers. Read more. |
Ireland
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Ireland |
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Tax legislation approved and regulatory update |
Tax compliance |
24 August 2022 |
The Irish Revenue Commissioners issued an updated reporting entity registration form for Irish FATCA and common reporting standard (CRS) purposes for entities that do not have an Irish tax reference number. Read more. |
KPMG Publication |
Income tax |
12 August 2022 |
Overview of the various funding mechanisms for companies for research and development (R&D) in Ireland. Read more. |
Italy
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Italy |
|||
Tax legislation approved and regulatory update |
Tax compliance |
10 August 2022 |
The Italian tax authority issued Circular No. 21/2022 detailing the criteria for selecting large multinational entity (MNE) taxpayers with gross receipts of more than €100 million for audits. Read more. |
Mauritius
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Mauritius |
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Tax legislation approved and regulatory update |
Income tax |
30 August 2022 |
Finance Bill 2022 passed with minor amendments in Parliament and was signed by the president. Read more. |
Nigeria
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Nigeria |
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Administrative and case law |
Income tax |
11 August 2022 |
A court decision concerning retroactive application of tax law changes. Read more. |
Poland
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Poland |
|||
KPMG Publication |
Income tax |
29 August 2022 |
Recent tax developments relating to robotization following Supreme Court decision and tax authority ruling. Read more. |
Proposed legislation |
Various tax topics |
29 August 2022 |
Legislation for the extension of an excise tax exemption for plug-in electric vehicles and anti-inflation measures is considered by the Council of Ministers. Read more. |
Proposed legislation |
Various tax topics |
29 August 2022 |
A draft bill amending corporate income tax provisions enacted as part of the "Polish Deal", was submitted before the Lower House of the Polish Parliament on 22 August. Read more. |
Proposed legislation |
Transfer pricing |
29 August 2022 |
A draft bill including measures to repeal a requirement to follow the arm’s length principle has been submitted. Read more. |
KPMG Publication |
Income tax |
22 August 2022 |
Summaries of recent court decisions. Read more. |
KPMG Publication |
Various tax topics |
17 August 2022 |
Recent tax developments relating to company reorganizations. Read more. |
Tax legislation approved and regulatory update |
Income tax |
09 August 2022 |
Response to parliamentary inquiry on improved access of the tax authority to certain taxpayers' banking information. Read more. |
South Africa
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
South Africa |
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KPMG Publication |
Income tax |
03 August 2022 |
New accounting standard (IFRS 17 Insurance Contracts) changes the way insurance contracts are accounted for. Read more. |
United Kingdom
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
United Kingdom |
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KPMG Publication |
Tax compliance |
08 August 2022 |
The First-tier Tribunal has upheld HMRC's 'claw back' of CJRS grants - what are the potential implications for other employers? Read more. |
Administrative and case law |
Income tax |
08 August 2022 |
Upper Tribunal upholds ruling that a commercial transaction structured in a tax-efficient way did not have a 'main purpose' of tax avoidance. Read more. |
Administrative and case law |
Transfer pricing |
08 August 2022 |
Implications for transfer pricing and the “unallowable purpose” rule following HMRC's successful appeal in a case that examined the deductibility of interest costs incurred on an intragroup loan used for a third-party acquisition. Read more. |
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