The latest TP trends in Belarus
As we have written in an earlier article, key changes to the Belarusian Tax Code were expected for 2019 already in the middle of last year. The proposed changes were amended several times during 2018 and finally came into force on 1 January. Below we comment on the...
read moreThe tax implications of Brexit: who are affected, and how?
The issue of the United Kingdom staying in the European Union is still ridden with uncertainty, even though the 29 March 2019 deadline for the withdrawal is only one-and-a-half months away. Hungarian companies conducting business in the UK as well as...
read moreChanges in Lithuanian interest deduction limitation rules
On 1 January 2019 important changes in Lithuania’s Law on Corporate Income Tax, determining interest expense limitations, came into force. These changes in Lithuanian interest deduction limitation rules are relevant to group companies and...
read moreWorld Tax 2019 and World TP 2019 rankings are out
According to World Tax 2019, which ranks more than 1,850 tax consultancy firms in the world, WTS Klient Hungary is in the “Tier 2” category, signifying an excellent rating. The firm also fares well in the World TP 2019 publication too, which presents transfer pricing...
read moreA comparison of business valuation methods
In this series of articles we have taken a thorough look at the basic elements of the most important business valuation methods, the income-based methods, the comparables methods and the asset value methods. We devote the closing part of our series to...
read moreNew requirements to sales management software in sales outlets in Bulgaria
From 28 December 2018, Bulgarian tax legislation introduced new requirements for sales management software, the producers thereof, and merchants who use such software in their business.The new requirements apply to sales management software understood as...
read moreNew amendments to regulation of innovation contribution from 2019
It is no surprise for Hungarian tax consultants and tax leaders, or possibly even for taxpayers who have been in the industry for years, that the regulations for the innovation contribution were amended again in Hungary in 2019. Professionals are probably...
read moreAmendments to the Romanian Fiscal Code valid in 2019
The Romanian Fiscal Code was amended twice last month: firstly by Government Emergency Ordinance no. 114/2018, published in Official Gazette no. 1116 as of 29 December 2018, and secondly by Law no. 30/2019 for the approval of Government Emergency Ordinance...
read moreEmployee training could be tax-exempt in Hungary
Finding and paying an appropriately qualified worker is an ever-increasing challenge for businesses nowadays. Additionally, from 2019 the number of benefits subject to preferential tax rates has fallen significantly, which further increases the...
read moreNew partner at WTS Klient
From 1 January 2019, WTS Klient has appointed Szabolcs Szeles, director of the company’s financial consulting division, as a partner. His appointment as partner also means an organisational change at HLB Hungary, the entity within the Klient Group that focuses on...
read moreTransfer pricing court practices in Russia are evolving
Court practices regarding the application of transfer pricing rules in Russia are evolving. A recent example of the development of transfer pricing court practices is the PJSC Togliattiazot case, in which the court initially supported the tax authorities’...
read moreFrom 2019, employees who are pensioners drawing a direct pension do not have to pay contributions in Hungary
There is a very important change from 1 January 2019 regarding the contributions payable by employees who are pensioners drawing a direct pension. The essence of the change is that starting from this year, employees who are pensioners drawing a direct...
read moreIntroduction of non-life insurance tax and other changes in Slovakian tax system
On 1 January 2019 a new indirect tax was introduced in Slovakia. The non-life insurance tax rate is 8%, and generally applies to all non-life insurance contracts. Apart from the introduction of the non-life insurance tax, the Act on Income Tax and the Act...
read moreMediated services in connection with local business tax
In Hungary, local business tax is levied based on net sales revenues which can be decreased by certain items, and thus by mediated services. You should be careful though because if the amount deducted on these grounds does not comply with the legal...
read moreNew transfer pricing regulations in Poland come into effect
Significant changes to the transfer pricing regulations in Poland came into force from 1 January 2019. The amendments align Polish regulations with the latest OECD Guidelines following the BEPS projects. On 14 November 2018, the country’s...
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