DEN Tax published draft amendments to the executive order on tax reporting, etc.
Amendments
There is a duty to report some investments that form the basis for investor deductions.
The report should only disclose the total capital contributions received by the company during the year if this amount exceeds the current limit of €500,000.
Regulation 2023/1315 lowered this threshold to €100,000, thereby reducing the limit specified in section 45 of the tax reporting order from €500,000 to €100,000.
Plus, section 51 of the order has been updated to facilitate the exchange of information between probate courts/DEN Tax, aiming to improve the efficiency of case processing.
Effectiveness
Any comments on the draft amendment should be received by Nov. 14, 2024.
The executive order enters into force on Jan. 1, 2025.
Nov. 2024 Executive Order Issued
On Nov. 28, 2024, DEN Tax issued order BEK 1242 of Nov. 25, 2024 in official gazette.
Order 1242 amends order 1016 of Jun. 22, 2023 on tax reporting etc., as amended by executive order 1724 of Dec. 12, 2023 and executive order 885 of Jun. 26, 2024.
Confirmed in section 45, subsection 7, 500,000 euro is changed to: 100,000 euro.
As well as amendments in section 51 concerning identity verification, documentation.
Executive order 1242 enters into force on Jan. 1, 2025.
Regulators
DEN Tax
Entity Types
Auditor; Corp; IA
Reference
OG 11/28/2024; BEK 1242, 11/25/2024; CP 69204, 10/18/2024; TRA (DEN); Reg 2023/1315;
