Registration of a legal entity in Russia in 5 steps

Anyone going to do business in Russia or managing to establish a Russian subsidiary in the form of a limited liability company (LLC) is surely interested in the details of registering a legal entity in Russia. In this article we will give you a useful support guide...
New rules regarding mergers, fusions and demergers in Slovakia

New rules regarding mergers, fusions and demergers in Slovakia

From 1 January 2018, amendments to the Slovak Commercial Code entered into force in order to improve the business environment, and among other things, to stop fraudulent practices related to reorganisations. The amendments introduced new obligations and constraints...

Accounting of a spin-off in Austria

The accounting treatment and the presentation of a spin-off can be challenging in practice. In this article we would like to highlight the accounting consequences of a spin-off in Austria from the transferring entity’s point of view. Our examination is limited to the...

Polish monitoring system will be extended to rail transport

Rail transport will be shortly a part of the monitoring system in Poland as a result of latest amendments to the Carriage of Goods by Road Act that have been approved by signature of President of Poland on 28 May 2018. Work on the amendments to the Carriage of Goods...
Draft law on BEPS implementation is still on the agenda in Ukraine

Draft law on BEPS implementation is still on the agenda in Ukraine

Although Ukraine updated transfer pricing rules for 2018 in January, these changes were rather technical character. Hence, the draft law on BEPS implementation from September last year is still on the agenda in Ukraine without any changes.  Due to the Ukrainian law...
Permanent establishments in Central and Eastern Europe

Permanent establishments in Central and Eastern Europe

The 2018 spring issue of WTS CEE Tax Bridge has been published. It summarizes the latest developments in permanent establishments in 10 countries of the Central and Eastern Europe Region. We are happy to introduce our first Tax Bridge this year. In order to place...

Changes in payment services regulation in Lithuania

On 17 April 2018 the Lithuanian Parliament adopted the package of the draft laws regulating the activities of the payment services implementing the second Directive on Payments (the PSD II). The amended laws regulate the activities of the payment service providers,...

Poland plans changes to minimum income tax on commercial property

On 1 January 2018, the minimum income tax on commercial property was introduced in Poland. It applies at the rate of 0.035% per month to certain buildings which are worth more than PLN 10 million (roughly EUR 2,400,000) at cost. Now the Polish Ministry of Finance...

Digital VAT in Belarus

Starting from 1 January 2018 foreign companies supplying digital services to individual consumers in the territory of Belarus are obliged to register with Belarusian tax authorities for payment of digital VAT in Belarus. What are digital services?  Belarusian Tax Code...

Special gambling levy in Austria for international lotteries

Organizers of international lotteries and raffles need to be careful. If the Austrian public is allowed to participate, Austrian tax authorities calculate the gambling levy based on the total prize value for all countries involved. On 1 January 2011, Austria...
Specific features of Russian VAT on digital services

Specific features of Russian VAT on digital services

Since January 2017 a non-Russian company which provides digital services to Russian individuals (not registered as self-employed) is liable to pay VAT on its income as a Russian VAT taxpayer. If the services are provided to a Russian entity or a self-employed...

Financial statements in Poland soon to be in electronic form only

On 12 February 2018, the Polish president signed the Act, which changes the act on the National Court Register. The new law took effect on 15 March and introduces the electronic filing of financial statements in Poland in two steps. New regulations have been...

Implementation of BEPS regulation in Serbia

On 29 December 2017, the Government of Republic of Serbia proposed the law on ratifying multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting to the National Assembly. Adopting this will be a milestone in the...

New requirements for Austrian private foundations and trusts

According to the Austrian Beneficial Owners Register Act (Wirtschaftliche Eigentümer Registergesetz, WiEReG) all Austrian legal entities – including Austrian private foundations and trusts – have to report their beneficial owners to a central register. The WiEReG –...

Application of the Value Added Tax Guarantee Mechanism in Slovakia

In connection with the amendment to the VAT Act, the Financial Directorate of the Slovak Republic issued a new methodological guidance on the value added tax guarantee mechanism, effective from 1 January 2018. One of the main criteria for the application of this...

Significant changes in the Romanian VAT split payment system

On 28 December 2017 law no. 275/2017 has been published in the Official Gazette in Romania. The law approves Governmental Ordinance 23/2017 regarding the Romanian VAT split payment mechanism, but brought significant amendments to that. The VAT split payment system was...

Supplies of goods via consignment stocks in Germany as of 2019

No VAT registration is needed for foreign suppliers in Germany with respect to shipments from EU countries to German consignment stocks under certain circumstances. Here we show you the details of the new rules of the German VAT Circular. In October 2017, the German...

New law on CbC Reporting in Russia

On 27 November 2017 the country’s parliament adopted a new law on transfer pricing issues in Russia in connection with the implementation of international exchange of information and documentation on international groups of companies. It took effect on the day of its...

Registration of beneficial owners of Czech companies

An amendment to the Czech Public Registers Act entered into force on 1 January 2018. The amendment will require the ultimate beneficial owners of Czech companies to be identified.  All legal entities entered in public registers, in particular trading companies...