In December 2016, the Croatian parliament adopted a tax reform with amendments being effective as of 1 January 2017. Below, we have summarized the most important tax law changes.
Hungary reduced its corporate income tax rate to 9% as of 1 January 2017. The Slovenian corporate income tax rate was increased from 17% to 19% beginning with 1 January 2017.
The Czech VAT Act was amended as of 29 July 2016 with the introduction of the reverse-charge mechanism for certain supplies of goods. Additionally to the supply of services, the supply of goods to a taxpayer by a person, who is not established in the Czech Republic and not registered as VAT payer is subject to the reverse charge mechanism.
On 18 June 2016, a new regulation became effective, which sets out obligations for foreign – i.e. host – employers seconding their employees to the territory of Slovakia either through temporary assignment to another employer or in order to provide services.
The Hungarian Minister for National Economy submitted a draft bill which would modify the current tax legislation, including certain transfer pricing related amendments.
The Hungarian government proposed several tax amendments for the year 2016. The proposal is currently awaiting acceptance by the Hungarian Parliament. Below we have summarized selected changes. Further, the increase of the minimum share capital of limited liability companies will become effective in 2016.
Im Jahr 2015 gab es in den baltischen Staaten Estland, Lettland und Litauen steuerliche Neuregelungen betreffend die Einkommen-, Körperschaft-, Umsatz- und Immobiliensteuer, die nachfolgend im Überblick dargestellt werden. Continue reading Baltikum: steuerliche Neuerungen ab 2015
The Polish Ministry of Finance intends to modify the Polish Act on local taxes and charges with regard to definitions of a building and a construction. The planned amendments may significantly change real estate taxation principles in Poland, however the legislative process is currently on the initial stage and the final wording of the amendments cannot be determined. Continue reading Poland: Real estate tax amendments
Gemäß bisherigem ungarischem Körperschaftsteuerecht konnten Verluste aus Vorjahren maximal iHv 50% mit laufenden Gewinnen verrechnet werden. In der Vergangenheit gab es – wie auch gegenwärtig in Österreich – keine zeitliche Begrenzung der Vortragsfähigkeit von Vorjahresverlusten. Es konnten daher alle Verluste, die in den vergangenen Jahren entstanden sind und noch nicht verwerten werden konnten, vorgetragen werden. Continue reading Ungarn: neue Regelungen für Verlustverwertung ab 2015
Im Juni 2014 wurde das albanische Einkommensteuergesetz um neue Verrechnungspreisbestimmungen erweitert. Davor war im Einkommensteuergesetz nur ein kurzer Paragraph mit der Überschrift „Verrechnungspreise“ enthalten, welcher der Finanzverwaltung ansatzweise das Recht einräumte, die zwischen abhängigen Parteien verhandelten Preise, nach Maßgabe des „Fremdvergleichsprinzips“ neu festzulegen. Aufgrund ihres zu allgemeinen Charakters fand diese Bestimmung in der Praxis kaum Anwendung. Continue reading Albanien: Neue Verrechnungspreisbestimmungen
On 17 September 2014 the bill on the amendment of the corporate income tax act was signed by the President of the Republic of Poland and was promulgated on 3 October 2014. The bill includes in particular changes specifically designed to tax the income generated by controlled foreign corporations (CFC) at the level of the Polish taxpayer owning the foreign subsidiary. Continue reading Poland: Introduction of CFC Regulations
New initiatives that are currently ongoing at both international level and national level confirm that transfer pricing is one of the most important areas with regard to tax risks of multinational corporations. Continue reading Czech Republic: Tax Authorities Seek Full Disclosure of Related-Party Transactions Details
The Polish Ministry of Finance has published a draft law amending the Personal Income Tax Act and some other laws. The new rules are also intended for the corporate income tax payers. The new law should come into effect from 1 January 2015, subject to final government discussions this September. The draft law provides that effective from the beginning of next year, taxpayers will have to use electronic communication for most of their tax filings, including submission of tax returns and other information. Continue reading Poland – compulsory electronic tax filing starting 2015
The year 2014 brings some important tax news for the Czech Republic: employees, who have for many years been used to that their tax matters are being handled by their employer on their behalf, might face an unpleasant surprise this year. Moreover, companies benefiting from a withholding tax exemption for license fees or interest payments between related companies based on a decision of the Czech tax administrator issued more than three taxation periods ago will have to request prolongation in 2014. Continue reading Czech Republic: Tax Update 2014
The new Polish Corporate Income Tax Act has introduced important changes for limited joint-stock partnerships (i.e. partnerships limited by shares). Continue reading Poland: Corporate income tax subject to limited joint-stock partnerships
The Czech government has approved tax law changes, which will enter into force from 2014 onwards. Below we summarize the most important changes. Continue reading Czech Republic: Tax Law Changes 2014
Recently, the European Commission has published its monthly decisions regarding the violation of community obligations (infringement procedure). Among these, the Commission requests Romania to change its practice regarding the VAT refund procedure. Continue reading Romania: Infringement procedure regarding VAT refund
Employers will no longer have to be afraid of sanctions if they decide to send their foreign employees on a business trip within the Czech Republic. Continue reading Czech Republic: Business Trips of Foreigners Are Not Illegal
The Stability Programme 2013 amending the Slovene budgets for 2013 and 2014 has been published and now enters into force. The Act brings changes to the VAT rates and introduces new taxes. Continue reading Slovenia: Stability Programme 2013