The 2018 winter issue of WTS CEE Tax Bridge has been published. It focuses on tax incentives related to research and development costs and royalty revenue in nine Central and Eastern European countries: Austria, Cyprus, the Czech Republic, Hungary, Poland, Romania,...
The 2018 autumn issue of WTS CEE Tax Bridge has been published. It summarizes the most important differences in the VAT system of nine Central and Eastern European countries to the EU regulations: Austria, the Czech Republic, Hungary, Poland, Romania, Russia, Serbia,...
In June 2018 the Government of the Czech Republic adopted a set of tax amendments traditionally referred to as the 2019 tax package for the Czech Republic. This tax package, containing, in particular, amendments to the Income Tax Act, the Value Added Tax Act and the...
According to the national law, Austrian RETT is triggered not only if an Austrian real estate is transferred, but also if at least 95% of the shares in a property owning company are transferred or consolidated in the hands of one single owner. The Annual Tax Amendment...
On 13 July 2018 the Lithuanian Parliament adopted important amendments to the Law on Personal Income Tax and to the Law on State Social Insurance. The Lithuanian tax reform affecting employment taxation comes into force on 1 January 2019. The reform includes...
The Ukrainian Tax Code has contained special rules for advance pricing agreements (APA) since September 2013, when the first transfer pricing (TP) rules were implemented in Ukrainian legislation. Since then the APA procedure has been revised several times. The current...
From July 2018 distribution of dividends in Romania is permitted before the closing of the financial year. The quarterly distribution is enabled through Law No. 163/2018 which was published in the Romanian Official Gazette on 12 July 2018 and took effect on 15 July...
On 1 January 2019 an amendment to the Slovakian VAT Act will come into force. The draft, which among other things removes the tax guarantee, is currently undergoing interdepartmental discussions in the Slovakian Parliament. No tax guarantee any more According to the...
The 2018 summer issue of WTS CEE Tax Bridge has been published. It summarizes the most important regulations of establishing a company in 13 countries of the Central and Eastern Europe Region: Austria, Belarus, the Czech Republic, Hungary, Latvia, Poland, Romania,...
The President of the Russian Federation signed the Federal Law providing an increase of the VAT rate in Russia from 18% to 20% from 1 January 2019. On 1 January 2019, Federal Law No. 303-FZ of 3 August 2018 should come into force, providing of an increase of the basic...
Belarusian Finance Ministry published a draft of the new Belarusian Tax Code 2019 on its official website. The changes are expected to come into force on 1 January 2019. Provisions we found the most interesting are summarised below. New term for recognition of...
A draft legislation amending the PIT and the CIT law in Poland has been published by the Polish Government Legislation Centre middle of July. The draft includes among others significant changes in the country’s transfer pricing rules. The new regulations will come...
On 1 January 2018 an amendment to the Czech Construction Act, or Building Act entered into force in the Czech Republic. While it aimed to simplify and shorten the approval process, the experts see the results somewhat controversial. In our article we show the pros and...
According to the latest TP-related changes in the Serbian Corporate Income Tax law, the taxpayer is not obliged to assess the price according to the “arm’s length” principle in the case of the sale of fixed assets to a related party. On 14 December 2017, the National...
On 4 December 2017, the Austrian Finance Ministry published information on the Transfer Pricing Documentation Act, including specifications of the Master and Local File in Austria. The additional information of the Austrian Finance Ministry (BMF) clarifies the...
By 1 January 2019 several important changes to the Estonian Income Tax Act are to be expected. Although the exact wording of the new law is not yet agreed, we can provide some insight into the draft law published in April this year. In April 2018, the Estonian...
In autumn 2017 Latvian government started working on amendments in the Latvian Taxes and Duties Act with the aim of introducing the recommendations with respect to TP documentation in Latvia stemming from the BEPS project outcomes. Currently the draft law amendments...
Serbian legislation does not provide for consignment stock; a suggested replacement for consignment stock would be a customs warehouse. In our article we present two possibilities: goods withdrawn from a customs warehouse by a customer and by a foreign legal entity....
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...
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...
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...
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...
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...
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...
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,...
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...
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...
Romanian Fiscal Code was amended starting 1 January 2018 for transposing the provisions of Directive 2016/1164/EU of 12 July 2016. The new rules concerning also Romanian corporate income tax are intended to address tax evasion. The most significant revisions to the...
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...
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...
