RSM Global

PROVIDING YOU WITH INSIGHT INTO DIFFERING RULES AND REGULATIONS

UNDERSTANDING EUROPE

As one of the most diverse regions in the world, Europe offers significant opportunities for business growth and expansion. However, the diversity of the region with varying currencies, regulations and stages of economic growth, can make Europe a very complex place for businesses to thrive.

With over 10,000 staff across the region, RSM assists businesses to anticipate and understand these complexities, in order to succeed in the largest consumer market in the world.

Greece: Thin capitalisation rules

1 February 2014
On 31 December 2013, the Greek parliament approved an amendment to the thin capitalisation rules. Greek thin capitalisation rules apply to all types of loans. This includes intragroup loans as well as third party loans, regardless of whether or not that third party is a certified financial institution.

United Kingdom: Tax Treaties

1 February 2014
On 27 December 2013 the protocol to the UK–India tax treaty entered into force. As a result of this protocol, several provisions of the treaty are altered, e.g. the recognition of partnerships for the application of the treaty and the dividend withholding tax rates. Furthermore, a limitation of benefits article has been introduced.

Italy: 2014 Budget

22 January 2014
On 27 December 2013, the Italian 2014 Budget was approved by the Italian parliament as well as published in the official gazette. The 2014 Budget contains several changes, some of which may affect internationally active companies that operate in the Italian market.

Germany: Corporate income tax

22 January 2014
In 2013 the German legislator renewed section 14, par. 1, no 5 of the German Corporate Tax Act (GCTA). The new rule limits the utilisation of tax losses in fiscal unities (the German group taxation system) in cross- border situations to avoid double-dips.

Luxembourg: Upcoming tax policy

22 January 2014
In December 2013, the new Luxembourg government announced its political program for the upcoming years. The announcement contains several direct and indirect tax measures.

Celebrating European Business Success

15 January 2014
I would like to congratulate the 100 businesses from across Europe that have been announced as the finalists and Ruban d’Honneur recipients in the 2013/14 European Business Awards. The finalists were chosen from 375 National Champions by an esteemed panel of judges made up of European business and political leaders, academics and entrepreneurs.

Germany: Updated tax policy

1 January 2014
On 27 November 2013, the German government published its tax policy for the upcoming four years. While not containing concrete, imminent measures the policy is a valuable insight into Germany's tax system actively countering base erosion and profit shifting.

Finland: Cross-border mergers

1 January 2014
The Finnish Supreme Administrative Court applied to the Court of Justice for the European Union’s Marks & Spencer doctrine to a cross-border merger involving tax deductible losses. The final losses were determined in accordance with the Finnish Business Income Tax Act. 

Germany: Depreciation of real estate

1 January 2014
Before 2009, non-resident companies directly holding German real estate were denied the higher depreciation rate of 3%. The Lower Fiscal Court of Cologne ruled that forcing non-resident companies directly holding German real estate to use the regular 2% depreciation rate is a breach of the free movement of capital.

United Kingdom: Upcoming tax policy

1 January 2014
On 5 December 2013, the British government published upcoming changes to the UK tax regime. These upcoming changes will be of particular importance to the employers of expats, as they will target dual contract arrangements and offshore intermediary employment structures. United Kingdom: Upcoming tax policy

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