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Optional VAT regime immovable rent: new VAT adjustment rules

On the 27th of May, a Royal Decree amending the provisions of Royal Decrees n° 3 and 14 has been published. Royal Decree n° 3 includes provisions regarding the VAT deduction and VAT adjustment rules. These provisions are now fundamentally changed following the introduction of the new optional VAT regime for the rent of immovable property.

ECOFIN discusses digital tax and updates the EU blacklist

In a meeting held on May 17, 2019, the Economic and Financial Affairs Council of the EU (ECOFIN) exchanged views on the taxation of the digitalized economy, in anticipation of the debates that will take place at the next G20 summit in June, where the OECD is expected to report on the progress made in addressing the taxation of the digital economy.

The ECOFIN also approved, without discussion, amendments to the EU blacklist of uncooperative jurisdictions for tax purposes. Bermuda, Aruba and Barbados were removed from the blacklist, which now includes twelve jurisdictions.