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The Irish Revenue Commissioners have produced a guidance manual on the taxation of cryptocurrencies and anyone holding, trading or accepting cryptocurrencies should take note, as should their tax advisors. The purpose of the manual is to give guidance on the tax treatment of various transactions involving cryptocurrencies and to remove much of the uncertainty surrounding …

Irish Revenue Commissioners Guidance on the Taxation of Cryptocurrency Transactions Read More »

The Irish Revenue has issued an eBrief to clarify how “normal tax rules” apply to transactions involving cryptocurrencies. The eBrief, published on the Revenue’s website on May 15, states that the treatment of income received from and charges made in connection with activities involving cryptocurrencies will depend on the activities and the parties involved. Therefore, …

Ireland Releases Virtual Currency Tax Guidance Read More »

The highly concentrated nature of Ireland’s corporation tax receipts represents “an unacceptable level of risk,” according to parliament’s Public Accounts Committee. The PAC has published a new report on Ireland’s corporation tax receipts. Corporation tax accounted for 15 percent of total tax receipts in 2016, with 70 percent of all corporation tax paid by the …

Irish Corporate Tax Reform Pushed By MPs, To Shore Up Tax Base Read More »

Successive Maltese governments have sought to conclude double tax treaties with important trading partners as well as with emerging countries, in order to encourage the growth of international trade including that of financial services. To date, treaties are in force with over 70 countries and this policy is expected to continue in the future. Most of Malta’s …

Double Taxation Treaties Read More »

On the 22nd May 2018, the Government of Malta published LN 162 of 2018, a new Legal Notice entitled ‘Value Added Tax (Regulation as a Single Taxable Person) Regulations, 2018.  This LN will allow separate persons, which are connected together by specific criteria to be grouped together as a single taxable person for VAT purposes.  These …

VAT Grouping introduced in Malta Read More »

On November 10, 2017, was published the Emergency Ordinance 79/2017 on the amendment of the Fiscal Code. What are the most important changes? 1. Profit tax A new chapter has been introduced – Rules against tax avoidance practices that directly affect the functioning of the internal market, rules transposing the provisions of Council Directive (EU) …

The most important changes foreseen by the new 2018 Tax Code in Romania Read More »

The German Federal Tax Court (BFH) issued a judgment in a case concerning the input value added tax (VAT) deduction when the invoice did not provide specific details about the time of the supply. According to German VAT law, a proper invoice must contain details on the time of the supply of goods or other …

Germany: Input VAT deduction, court decision on timing of supply Read More »