Library of Congress

Law Library of Congress

The Library of Congress > Law Library > News & Events > Global Legal Monitor

Greece: Clarification of VAT as Applied to Crowdfunding Campaigns

(Jan. 29, 2016) The Public Revenue Authority of Greece issued a document on January 14, 2016, addressing the issue of how to apply value-added tax (VAT) to reward-based crowdfunding projects. In such funding campaigns, people contribute to a project before receiving any goods or services in exchange for their contributions. The crowdfunding is considered a […]

Court of Justice of the European Union/Sweden: Purchase and Sale of Bitcoins Not Subject to VAT

(Nov. 5, 2015) On October 22, 2015, the European Court of Justice (ECJ) issued a preliminary ruling on the taxation of Bitcoins. (Case C-264/14, Skatteverket v. David Hedqvist, 2015, INFOCURIA – CASE-LAW OF THE COURT OF JUSTICE (Oct. 22, 2015) (ECJ Preliminary Ruling).) The ruling was in response to a 2014 request by the Swedish Högsta […]

Finland: Administrative Opinion on Tax Treatment of Uber Drivers

(Oct. 23, 2015) The Finnish Tax Administration (Verohallinto) issued an opinion on October 15, 2015, on the provision by individual drivers of personal transportation services to customers by means of a mobile phone application, such as the services offered by Uber. The Tax Administration stressed that it is not authorized to determine whether such services […]

Italy: New Legislation on Electronic Billing

(Oct. 5, 2015) On September 2, 2015, new legislation on electronic billing for value-added tax (VAT) operations entered into effect in Italy. (Legislative Decree No. 127 of August 5, 2015, Computerized Transmission of VAT Transactions and Control of the Supply of Goods Through Vending Machines, Implementing Article 9, Paragraph 1, Sections d) and g), of […]

Chile: New Foreign Investment Law Enacted

(June 23, 2015) On June 16, 2015, Chile enacted Law 20,780, on foreign investment. The law originated as Bill 9899-05 and was sent to the legislature by the administration on January 30, 2015. The new legislation replaces the statute on foreign investment enacted as Decree Law 600 of 1974, which will be abolished as of […]

Montenegro: Reform of Tax System Announced

(Feb. 11, 2015) Montenegro, a small nation in southeastern Europe that become independent from Serbia on June 3, 2006, published an economic reform program for the years 2015-2017 on February 3, 2015. (Ivana Kireta, Montenegro: Tax Reform Announced (Feb. 5, 2015), TAX NEWS SERVICE, IBFD online subscription database; Central Intelligence Agency, Montenegro, in WORLD FACTBOOK […]

Italy: Tax Simplification Legislation Passed

(Jan. 13, 2015) Italy recently passed legislation on tax simplification and the expedited filing of tax returns; the new law became effective on December 13, 2014. (Legislative Decree No. 175 of November 28, 2014, Tax Simplification and Filing of Pre-Completed Tax Returns [D.L. No. 175], GAZETTA UFFICIALE (G. U.) No. 277 (Nov. 28, 2014), NORMATTIVA […]

Iceland: 2015 and 2016 Tax Measures

(Dec. 31, 2014) Iceland’s Parliament, the Alþingi, approved legislation on December 16, 2014, that amends a number of the country’s tax laws. Except where otherwise noted, the changes take effect from January 1, 2015. (Hjordis B. Gunnarsdottir, Iceland: Some Budget Measures Adopted, TAX NEWS SERVICE (Dec. 18, 2014), International Bureau of Fiscal Documentation (IBFD) online […]

Ghana: New Tax on Petroleum Products

(Dec. 2, 2014) On November 19, 2014, Ghana’s Parliament adopted into law controversial legislation that introduces a special petroleum tax of 17.5% on certain petroleum products. The products include “petrol, diesel, liquefied petroleum gas (LPG), natural gas and kerosene.” (Eric Kwaku Kegya, Ghana: Special Petroleum Tax Bill Enacted, TAX NEWS SERVICE (Nov. 21, 2014), International […]

Suriname: VAT Tax to Be Initiated in 2016

(Nov. 14, 2014) On October 31, 2014, the International Monetary Fund commended Surname’s recent efforts to address the country’s “widening fiscal and external imbalances, and the progress made on financial sector reform,” in the wake of its weakened macroeconomic conditions in 2013, and called upon its authorities to continue to adopt prudent policies and reforms […]