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Tax & Legal

Tax & Legal

German Tax Desk Italy: Plastic Tax and Sugar Tax – Postponement to 2023 with the Budget law for 2022


The 2020 budget law (n. 160/2019) introduced two new consumption taxes under the responsibility of the Customs and Monopolies Authority: the tax on the consumption of plastic products with single use or ” MACSI ”(known as the“ Plastic Tax ”) and the tax on the consumption of sweetened beverages (known as the“ Sugar Tax ”). Continue reading

Germany: Social Democrats, Greens and Liberals ready to start coalition negotiations


On 15 October 2021, the leaders of Germany’s Social Democrats (SPD), climate-friendly Greens and pro-business Free Democrats (FDP) presented their initial exploratory paper which also includes several tax issues. Tax increases are to be largely avoided, no tax cuts are planned. However, the issues addressed so far may still be subject to changes during future coalition negotiations and it should be expected that further topics might yet be brought up. Thus it is still a long way down the road until a joint coalition agreement can be signed since there are still several tricky questions remaining which will have to be brought in line by the acting team players and their political parties.

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The transfer of inventory existing in Italy as part of a transfer of going concern carried out abroad is an autonomous supply of goods for VAT purposes


In brief

With the reply to ruling no. 637, dated 30 September 2021, the Italian tax authorities provided clarifications on the correct treatment applicable for VAT and registration tax purposes to the transfer of inventory existing in Italy included in a wider transfer of going concern carried out abroad. Continue reading

Bundesrat approves the Act to Modernise Corporate Income Tax


UPDATE:

In its session on 25 June 2021, the Bundesrat gave its approval to the Act to Modernise Corporate Income Tax Law. The Bundesrat thus followed the recommendation of the Finance Committee. The law is should enter into force on 1 January 2022.

See below for more details.

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UPDATE: Bundestag approves Tax Haven Defence Act


On 10 June 2021, the Bundestag approved the “Act to avert tax avoidance and unfair tax competition and to amend other laws”. In doing so, the Bundestag followed the recommendation of the Finance Committee.

The defence mechanisms contained in the bill (19/28901) are intended to make it more difficult for individuals and companies to avoid paying taxes in Germany through business relations with states and territories that are on the EU list of non-cooperative tax jurisdictions. The measures envisaged include, for example, the denial of tax benefits or deductions.

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UPDATE : Bundestag passes the Act to Modernise the Relief of Withholding Taxes and the Certification of Capital Gains Tax


On 5 May 2021, the Bundestag passed the Act to Modernise the Relief of Withholding Taxes and the Certification of Capital Gains Tax. The law as passed is based on the resolution recommended and passed by the Bundestag Finance Committee on 21 April 2021.

The approval of the Bundesrat is still pending. The appointed date for this is 28 May 2021. Continue reading

Newsflash: TP Perspective on Act to Modernize the Relief from Withholding Taxes and the Certification of Capital Gains Tax)


On May 7, 2021, the German Parliament (Bundestag) adopted the “Gesetz zur Modernisierung der Entlastung von Abzugsteuern und der Bescheinigung von Kapitalertragsteuer – AbzStEntlModG” (Act to Modernize the Relief from Withholding Taxes and the Certification of Capital Gains Tax). The German Federal Council (Bundesrat) passed the Act on May 28, 2021 so that the German legislative process has now been finalized. The Act also contains amendments or supplements to the Foreign Tax Act (AStG) and the General Tax Code (AO) that are relevant from a transfer pricing perspective. Our Newsflash provides an overview of the most important points. Continue reading