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As part of the commitment to modernise the tax system, but also with aim of monitoring the fiscal deficit, the Executive Branch presented its proposal for a comprehensive tax reform that it will submit to Congress with the aim of making it applicable from fiscal year 2018 onwards.

Every year the European Commission adopts its work programme setting out the list of actions it will take in the year ahead. The work programme informs the public and the EU's co-legislators (Council of the EU and European Parliament) of the Commission's political commitments to present new initiatives, withdraw pending proposals and review existing EU legislation.

Following public consultation on the draft bill earlier in the year, the final version of the 2017 Taxation Laws Amendment Bill (TLAB) is now before Parliament.

The Minister of Finance (MoF) enacted MoF Regulation No. 165/PMK.03/2017 on November 20 2017, concerning the second amendment to MoF Regulation No. 118/PMK.03/2016 regarding the implementation of Law No. 11 of 2006 concerning the tax amnesty (MoF Regulation 165). The MoF Regulation 165 provides amnesty for those who did not participate in the tax amnesty programme and those who participated but have not reported all of their assets.

The SAT ruling now has expanded the situations where the 4.9% withholding tax rate is not applicable to include interest derived from certificates, loans and other financial transactions.

The Court of Justice of the European Union (CJEU) issued a decision on October 4 2017 that clarifies the VAT treatment of certain automobile leasing agreements.

The Maltese notional interest deduction rules (the rules) were published on October 5 2017, further to an announcement made in the previous 2017 budget. Traditionally, debt financing in Malta has been regarded as more efficient from a tax perspective due to the deductibility against chargeable income of finance costs incurred by companies upon the granting of loans. The main objective of the rules is to approximate the manner in which cost of equity and cost of debt are treated from a tax perspective. The rules provide certain undertakings with the possibility of deducting interest they are deemed to have incurred on equity.

From January 1 2018, research and development (R&D) expenses may be deducted twice for tax purposes in Poland.

Following a very long ratification process, the 2010-dated agreement for the avoidance of double taxation (DTA) concluded between FYR Macedonia and Belgium finally entered into force on July 17 2017.

The Montenegro Parliament, on its 26th convocation on October 11 2017, adopted the Law ratifying the agreement signed between Montenegro and Republic of Portugal on the avoidance of double taxation and prevention of tax evasion.