Among other things, the following is new on the international tax scene:
- In October 2023, the DAC8 Directive was adopted by the Council of the EU to strengthen administrative cooperation between the tax administrations of EU Member States. The main changes relate to the notification and automatic exchange of information on the proceeds of crypto-asset transactions, as well as the exchange of binding tax opinions across borders relating to wealthy individuals.
- The European Commission has published draft directives governing corporate income taxation in Europe. These are the BEFIT Directive, which regulates the taxation of the income of multinational companies based on a common tax base, and the European Union Transfer Pricing Directive, which proposes harmonized transfer pricing rules and harmonized transfer pricing documentation within the EU.
- In October 2023, the OECD published the text of a new multilateral convention to implement Part A of Pillar 1, which addresses the tax challenges arising from the digitization and globalization of the economy.
We will monitor the further development and direction of these guidelines and inform you accordingly in future editions of our Newsletter.
Among other things, the following is new on the Slovak tax scene:
- The Financial Administration of the Slovak Republic (the “FA SR”) has published information on the amount of assigned taxes (between 1% and 3% of the tax paid) for the third sector from the income tax returns filed for 2022. The amount of tax remitted increased by approximately EUR 12 million, compared to the 2021 tax period, to almost EUR 94 million, which is not the final amount as the FA SR has not yet processed all the remittance declarations.
