New electronic communication channel for taxpayers in Poland

From 1 January 2015, Polish taxpayers of advance payments of personal income tax who are physical persons are able to sign and send collective documents and single ones by the authorising data.

Poland to amend VAT regulation in July

Works on the amendment to Poland's VAT Act are almost finished. The majority of the new regulations will enter into force from 1 July 2015, with changes referring mainly to the rules relating to delivery calculation in case of which the buyer is the taxpayer.

Making business easier in Poland

More than 300 changes in more than 100 Acts will make doing business easier in Poland; they come as a result of the cooperation between the Ministry of Economy and entrepreneurs, organisations which represent them as well as other Ministries and administration organs.

Time limits imposed on fixed term contracts in Poland

The Polish government looks set to approve amendments to the Labour Code which will impose time limits on fixed-term contracts, said the Labour Minister W?adys?aw Kosiniak-Kamysz. The sum of the months worked for one employer cannot exceed 36 months. Termination periods will also be amended.

Austrian budget announces increased VAT rate

Austria may increase its reduced VAT rate next year. Most goods and services - including livestock, seeds, cultural services, museums, zoos and hotels - will see the rate go up to 13%, from the current 10%. However, the standard VAT rate of 20% will not change and the current reduced 10% rate will continue to apply to food and pharmaceuticals. It creates a three-tier system for VAT in Austria.

What's changing as part of the Irish Companies Act?

The Companies Act 2014 (the “Act”) which consolidates the existing Companies Acts 1963 to 2013, is expected to commence on 1 June 2015. There a number of material changes contained in the Act, in particular, the current model of private limited company (which is the most common company type in Ireland) will be split into two types – the private company limited by shares (“LTD”) and the designated activity company (“DAC”). There are also a number of changes aimed to improve corporate governance, for example, codification of directors’ duties.

First Quarter MOSS VAT Return Deadline Looming

Belgium VAT changes after Skandia America judgment

Belgian VAT authorities have announced they will fully uphold and apply the September 2014 Court of Justice of the European Union (CJEU) judgment in the Skandia America case. Changes to take effect from July 1, 2015.

Brazil steps forward on harmonisation of worldwide accounting rules

The adoption of IFRS-based rules for tax purposes is compulsory for all taxpayers from 2015 on.

BIS analysis - responses to new directors' remuneration reporting requirements

The regulations, which apply to quoted companies and were approved in August 2013 (effective for periods ending on or after 30 September 2013), changed the requirements for the content of directors’ remuneration reports, adding some significant new disclosures including a ‘single figure’ for the remuneration of each director.

Luxembourg leads on FATCA transparency

TMF Group's Nathalie Doyle says Luxembourg being classed as third for financial institution FATCA registrations globally shows a willingness of local firms to be fully transparent in the exchange of information for tax purposes.

Financial institutions required to share information with TAJ

Effective 17 August, financial institutions in Jamaica will be required to transmit relevant financial information to Tax Administration Jamaica (TAJ) on persons who reside permanently in the United States or persons who earn a substantial amount of their income from or within the United States.

Further extension to Luxembourg’s FATCA reporting deadline

Luxembourg tax authorities have announced a new deadline of 31 August 2015 for financial institutions to report on the relevant accounts and assets data of American customers under the Foreign Account Tax Compliance Act (FATCA).

Luxembourg FATCA agreement is now formally in place

The law approving the Foreign Account Tax Compliance Act (FATCA) Intergovernmental Agreement (IGA) between the United States and the Grand Duchy of Luxembourg has been adopted unanimously in the Chamber of Deputies. TMF Group provides details.

New partnership vehicles in Luxembourg

UK corporate governance updates for February

Susan Fadil, UK's Head of Corporate Secretarial, gives an update on the regulatory trends and changes in the UK compliance market.

Luxembourg Central Bank expands scope of statistical reporting of Luxembourg issuing companies

The Luxembourg Central Bank has expanded the scope of statistical reporting of Luxembourg issuing companies and brought some modifications to the reports. Reporting is now obligatory for all financial companies exceeding the threshold involved.

Jersey FATCA reporting deadline may be extended to 31 July 2015 upon request

TMF Group reports the latest FATCA filing deadline advice from Jersey tax authorities who have announced they may extend the 30 June 2015 reporting deadline to 31 July 2015 upon request.

Luxembourg FATCA reporting deadline extended to 31 July 2015

An exceptional extension to 31 July 2015 has been applied by Luxembourg tax authorities, extending by one month the deadline for Foreign Account Tax Compliance Act (FATCA) reporting, concerning annual financial accounts as of 31 December 2014.

UAE signs FATCA deal with the US to provide tax details of American citizens

TMF Group Dubai Managing Director Julian Dietz says compliance requirements may increase for companies now that the UAE has signed a deal with US authorities to implement the Foreign Account Tax Compliance Act (FATCA).