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Irish Revenue Commissioners Guidance on the Taxation of Cryptocurrency Transactions

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 …

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Ireland Releases Virtual Currency Tax Guidance

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, …

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

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 …

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Double Taxation Treaties

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 …

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

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) …

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