2019 tax package for the Czech Republic

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...

New APA procedure in Ukraine

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...

New possibility for distribution of dividends in Romania

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...

Governmental draft of amendment to Slovakian VAT Act

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...
Establishing a company in Central and Eastern Europe

Establishing a company in Central and Eastern Europe

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 increase of the general VAT rate in Russia from 18% to 20%

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...

Key changes of the Belarusian Tax Code in 2019

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...

Amendments to transfer pricing regulations and to the CIT law in Poland

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...

Amendment to the Czech Construction Act has not met all expectations

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...

Clarification of the Master and Local File in Austria

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...

Changes to the Estonian Income Tax Act

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...

Consignment stock or customs warehouse in Serbia

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....

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...