ITR Search | International Tax Review

Fiscal deficit will force Hungary to increase taxes

The Hungarian government will have to increase taxes in 2005 to meet the EU-approved convergence programme for entry into the euro, which requires cuts in the country's 5.4% budget deficit. The 2005 budget tax proposals, therefore, include increases to financial institutions' profit tax rate and to the withholding tax on capital gains.

September 18 2004

Cimber Air A/S v Skatteministeriet

Sixth VAT Directive – Article 15(6), (7) and (9) – Exemption of exports outside the Community – Meaning of ‘aircraft used by airlines operating chiefly on international routes’ – Exemption for fuelling and provisioning of domestic flights.

September 15 2004

Argentine update: What the new transfer pricing and thin- capitalization rules mean

The Argentine executive issued Decree No 916/2004 on July 23 2004, which provides clarification and new regulations to the provisions of last year's income tax reform introduced by Law 25.784

September 11 2004

New EU members reject criticism of corporate tax rates

The EU’s newest members have reacted angrily to criticism from Nicolas Sarkozy, France’s finance minister, that their low corporate tax rates are unfair

September 11 2004

Manninen is another blow for national tax

The European Court of Justice (ECJ) struck out again at national tax systems throughout the EU last Tuesday, when it ruled that a Finnish man was entitled to a tax credit under Finland’s tax system on the dividend he received from a foreign company

September 11 2004

EU update: Imputation tax credits challenged before the ECJ

The European Court of Justice (ECJ) is likely to hold that shareholder relief on dividends in the form of an imputation tax credit is incompatible with the free-movement-of-capital principle under articles 56 and 58 of the EC Treaty

September 11 2004

Italian update: New unclear substitutive tax rules on loans

The Italian market of medium and long-term loans (the Loans) is facing a great deal of uncertainty related to the substitutive tax applicable thereto (the Substitutive Tax)

September 11 2004

German update: Thin capitalization rules finalized

Germany put new thin-capitalization rules into effect this year that are intended to conform to the requirements of European law

September 11 2004

Austrian law firm sets up a tax practice

Clemens Hasenauer, an Austrian tax lawyer formerly at the top law firm Haarmann Hügel, has joined a rival firm as head of a new tax practice

September 11 2004

Luxembourg v Vermietungsgesellschaft Objekt Kirchberg SARL

Sixth VAT Directive – Article 13(C) – Exemption of transactions of leasing or letting of immovable property – Right of option for taxation – Deduction of input tax – Obtaining prior approval of the tax authorities.

September 08 2004

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