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...
read moreSo how much do foreign postings cost?
When an average limited liability company sends its employees abroad for business meetings or training for a few days, several types of cost may incur, which can entail different tax payment liabilities too. Some costs may even be coupled with VAT...
read moreAmendments 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...
read moreBusiness division transfer
Companies can have diverse activities nowadays. The example below related to a business division transfer describes a company originally involved only in manufacturing that extended its activity to the service sector. If a company is involved in various...
read moreAmendment 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...
read more2019 tax package
2019 tax package for Hungary has been accepted. Let us take a look at the most important amendments in the omnibus law promulgated on 25 July 2018: Act XLI of 2018. Further changes and refinements are expected to come in the autumn, adding to the 2019 tax...
read moreSanctions of new Act on Rules of Taxation II – Default penalty
In the first part of our two-part series launched a month ago we looked into the changes related to tax penalties and late payment interest, some of the sanctions applied in the new Hungarian Act on Rules of Taxation effective from 2018. In this second...
read moreChanges in the Serbian Corporate Income Tax law related to transfer pricing
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,...
read moreTamás Gyányi among tax experts of International Tax Review
Tamás Gyányi, partner of WTS Klient Hungary, is included as a leading expert on indirect taxes in the special July 2018 edition of the International Tax Review, Europe’s top magazine on taxation. The international Indirect Tax Leaders publication is published for the...
read moreBusiness valuations based on future incomes: income-based methods
To start our new series we looked at events which can initiate a business valuation and the methods available to value a company. In this article we would like to outline the main points of income-based methods. We will also mention aspects supporting the...
read moreClarification 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...
read moreChanges in accounting rules from 2019
The draft bills proposed to the Hungarian National Assembly under No. T/625, primarily on taxation, also include changes to accounting rules. Among these changes in accounting rules we would like to draw your attention to the proposals expected from 2019...
read moreOnline data reporting for invoicing: penalties on the way from 1 August
Online data reporting for invoicing was launched in Hungary on 2 July, though we may still see some technical problems in the course of the reporting. WTS Klient Hungary believes it would be useful if the penalty grace period of 1 month, i.e. until 31 July, were...
read moreChanges 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...
read moreArtificial intelligence in taxation
What is the potential impact of artificial intelligence on taxation, and how can we possibly use it in tax consulting? What are the first steps and experiments that have already been carried out in this field? These are the questions we seek answers to in...
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