Taxation News – 1st Issue (January 2014)-Clarifications on the tax treatment of capital gains from the alienation of shares
Bulgaria
- Reduced rate of 5% withholding tax on interest and royalties income
Romania
- Taxation of on-line gambling activities; tax on special constructions and infrastructure; increase of minimum gross salary
Ukraine
- Changes to Terms of Payments in Export/Import Transitions and Mandatory Selling of Foreign Currency Income
Greece
- Clarifications on the tax treatment of capital gains from the alienation of shares
Given the confusion regarding the taxation of capital gains derived from the alienation of shares, the Ministry of Finance has issued decision D12B 1159820/18.10.2013 (∆12Β 1159820 ΕΞ/18.10.2013) in order to clarify the issue.
With the aforementioned document it is noted that under art. 72, par. 7 of l. 4172/2013 the gains deriving from the alienation of shares, either quoted on a stock exchange or not, when taking place from 01.01.2014 and thereafter, are subject to tax at rate of 15% as per the provisions of art. 42 & 43 of l. 4172/2013.
Consequently, the gains deriving from the alienation of shares quoted on a stock exchange, when taking place prior to 01.01.2014, remain untaxed, while the transfer of unquoted stocks are taxed at a rate of 5%, as per art. 38 & 13 of l. 2238/1994.
- New Real Property Tax Law Ratified
European Union
- Tackling Tax Avoidance: Commission tightens key EU corporate tax rules
OECD
- Global Forum moves towards automatic exchange of tax information and transparency
Albania
- The new fiscal package in Albania
Poland
- EU Court of Justice will rule on the VAT in municipalities
FYR of Macedonia
- India-FYR of Macedonia new Income Tax Treaty
Download: 