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...
read moreChallenges faced by international companies in Hungary in 2018
After labour shortages, online invoicing is the second major challenge for international companies operating in Hungary in 2018 – as revealed by our survey conducted among more than 100 finance managers at the beginning of this year. At the beginning of...
read moreGuidelines on business valuations: what to evaluate, how and for whom?
Commerce is one of the most ancient business activities of humanity, with price always playing a central role. The establishment of companies created a market for them too, together with the need for determining the value of companies. In our previous...
read morePermanent 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...
read moreCommon errors in Hungarian personal income tax returns of foreign private individuals
The deadline (22 May) for submitting personal income tax returns is fast approaching. For certain types of income it is not always easy to decide whether it should be declared in the return, and if yes, then how. This is particularly difficult for...
read moreOnline data reporting: only 2 months to go!
It looks like the live system of online data reporting will finally be introduced in Hungary from 1 July 2018. Any further extension to the deadline seems quite unlikely, especially given that the EU has accepted the system too. Therefore the documentation...
read moreChanges 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...
read moreTax law judgment on chain transactions based on new case ruling by Court of Justice of European Union
In previous articles we reported on important judgments by the Court of Justice of the European Union that may influence Hungarian tax authority practices as well. Such issues included the rulings on leasing VAT or reverse charging. In recent months the...
read morePoland 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...
read moreReview of HR activities and processes in Hungary based on GDPR
As previously intimated on several occasions, the General Data Protection Regulation (GDPR) of the EU shall be mandatory and directly applicable in all Member States, including Hungary, from 25 May 2018. The GDPR is to pose new challenges for companies...
read moreDigital 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? ...
read moreWhat does electronic communication mean from the perspective of local business tax returns?
In some previous articles we revealed that business entities will need to communicate electronically with the state in Hungary from 1 January 2018. In terms of tax affairs this electronic communication means electronic administration not just at the NAV...
read moreChanges regarding the Romanian corporate income tax and tax on micro-company revenues
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...
read moreHungarian-Turkish social security agreement takes effect
After a long wait, the Hungarian-Turkish social security agreement took effect as of 1 April 2018. The parties agreed upon the terms of the agreement some 3 years ago, but the last notification needed for the agreement to enter into force was only received in 2018....
read moreWTS Klient Hungary is among the nominees of European Tax Awards 2018
WTS Klient Hungary has been shortlisted this year in two categories as one of the best tax firms in the European Tax Awards, the most relevant tax contest in Europe. The winners will be revealed and the awards will be presented on 17th of May in London. WTS Klient...
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