Author: Europe News Desk

Attention, gaming industry professionals and enthusiasts! Major tax changes are coming to Belarus’ gambling sector in 2025. If you own a casino, manage a betting business, or operate an online gambling platform, here’s what you need to know about the new tax rates effective January 1, 2025. The Belarusian government has introduced these changes under Law No. 47-Z (December 13, 2024), updating the Tax Code of the Republic of Belarus. The goal? Increase tax revenue from the gaming industry while tightening regulations on older slot machines and virtual gambling platforms. Key Tax Rate Increases for 2025 1. Higher Fixed Tax…

As Germany prepares for a new government, one of the significant challenges ahead will revolve around its stance on the OECD’s Pillar Two framework. This initiative aims to establish a global minimum tax rate, which has reignited debates on tax fairness and competitiveness among EU member states. The incoming leadership will need to navigate this delicate balance, either supporting the implementation of Pillar Two in the face of potential international backlash or advocating for a systemic overhaul. The Significance of Competitiveness The approach Germany adopts towards Pillar Two will play a crucial role in shaping the European Union’s competitive landscape,…

The landscape of international corporate taxation continues to evolve as Ireland updates its implementation of the OECD’s Global Minimum Tax (Pillar Two). These changes, introduced under Finance Act 2024, clarify key administrative and compliance requirements for multinational enterprise groups (MNEs) and large-scale domestic groups operating in the EU. If you’re a tax professional, corporate executive, or business leader, here’s what you need to know to stay compliant and optimize your tax strategy. Key Updates to Ireland’s Global Minimum Tax Rules Ireland’s Revenue eBrief No. 322/24, released on December 17, 2024, highlights important changes in the administration of the 15% global…

Ireland has introduced important changes to its Cooperative Compliance program, a major update aimed at improving tax risk management for large businesses. The Italian Revenue Agency (Agenzia delle Entrate) has issued new guidelines outlining the Tax Compliance Model (TCM) that companies must follow to ensure they properly identify, measure, and manage tax risks. What Does This Mean for Your Business? The new guidelines primarily target businesses looking to join the Cooperative Compliance program or those already enrolled. Companies will need to demonstrate that their tax risk management system meets the updated standards. As of 2024, the program will open to…

Germany has a structured and transparent approach to cryptocurrency taxation, governed by clear legal frameworks. Whether you’re investing, trading, mining, or staking, understanding how your digital assets are taxed is crucial to staying compliant and avoiding unnecessary penalties. 1. How Germany Taxes Cryptocurrencies In Germany, cryptocurrencies like Bitcoin and Ethereum are considered private assets rather than legal tender. This classification impacts how they are taxed, depending on factors such as holding periods and transaction types. Key Tax Factors: 2. Crypto Capital Gains Tax – When Do You Pay? Tax-Free Gains (Held for More Than One Year) If you hold cryptocurrency…

Imagine a world where healthier food is cheaper, deadly diseases are reduced, and governments collect billions in new revenue—all by adjusting a single tax. A groundbreaking study from the University of Oxford suggests that changing how we tax food could do just that. The Case for Smarter Food Taxation Taxes on food aren’t new, but what if they were designed to improve both public health and the environment? Denmark recently made headlines by introducing a carbon levy on livestock farming, sparking global conversations about sustainable food policies. Oxford researchers now propose a game-changing strategy: This bold shift could curb diet-related…

As 2025 kicks off, Spain has introduced a series of tax changes that could impact both individuals and businesses. The Royal Decree-Law 9/2024, which was approved in late December 2024, brings adjustments to personal income tax, corporate tax, VAT, and other levies. Here’s a clear breakdown of what’s changing and how it may affect you. Key Changes in Personal Income Tax (IRPF) Higher Income Threshold for Tax Returns:Starting January 1, 2025, the threshold requiring taxpayers with multiple income sources to file a tax return has been raised from €1,500 to €2,500. Now, if your total income is €22,000 or less,…

Spain has implemented new modifications to Personal Income Tax (IRPF), which will take effect on April 3, 2025. These changes, outlined in Organic Law 1/2025, aim to provide clearer and more precise guidelines on tax exemptions related to compensation for personal injury, dismissal payments, and maintenance annuities. The goal of these amendments is to eliminate ambiguities in tax regulations and ensure that individuals receive fair and transparent tax treatment when it comes to compensation and financial support payments. For taxpayers, especially employees, legal beneficiaries, and individuals involved in legal settlements, these adjustments could affect how compensation is taxed and whether…

Spain has launched three new taxes in 2025 under Law 7/2024, bringing significant changes for multinational corporations, financial institutions, and the tobacco industry. These tax reforms align with global trends in corporate taxation, financial sector contributions, and public health policies. If you’re running a business in Spain or operating internationally, understanding these changes is essential for compliance, financial planning, and strategic decision-making. Let’s break it all down. Overview: The Three New Taxes in Spain 1️⃣ Complementary Tax – Minimum Global Tax for Large Companies Business Impact✅ Companies with complex international tax structures may need to adjust their financial planning.✅ Tax…

Businesses in Latvia face new Value Added Tax (VAT) registration rules in 2025, impacting how companies determine their VAT obligations. The most significant change? The €50,000 VAT registration threshold now includes certain non-VAT taxable transactions, meaning more businesses may need to register for VAT. If your business exceeded €50,000 in turnover in 2024, including applicable real estate, financial, or insurance transactions, you must have registered with the SRS VAT register by January 15, 2025. If not, VAT obligations apply retroactively from January 1, 2025. What’s Changing? 1. VAT Registration Threshold Now Includes More Transactions Previously, only transactions subject to VAT…