Press release
New 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.
Transfer 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’ position...
From 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 pension will not...
Introduction 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 on...
Mediated services in connection with local business tax
In respect of mediated services attention should be paid to documentation, and particularly to the invoices and contracts containing such services.
New transfer pricing regulations in Poland come into effect
Significant changes to the transfer pricing regulations in Poland came into force from 1 January 2019. One amendment is the introduction of safe harbours.
Carve-out, or separation of a business division
Above a certain company size – especially in the case of complex businesses operating more than one division – the need to separate business divisions from the core activity can often arise for various reasons. This process is called a carve-out. The reasons for a...
Ultimate beneficial owners have to be disclosed also in Lithuania
As of 1 January 2019, all companies registered in Lithuania disclose their ultimate beneficial owners with the JADIS Information System by 1 July 2019.
Most common questions about tax from foreign nationals
Another car-manufacturing giant will soon be arriving in Hungary. This investment indicates once again that Hungary is a popular target for foreign investors. When an investor ventures into foreign markets, besides the local recruitment of workers they usually send...
Tax benefits related to research and development in Central and Eastern Europe
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, Serbia, Slovakia and Slovenia.
The new draft of Corporate Income Tax Law in Serbia
With effect from 1 January 2019 significant amendments to the Corporate Income Tax Law in Serbia are expected. The new draft has been published by the Ministry of Finance of the Republic of Serbia on 6 November 2018. The new draft of Corporate Income Tax Law in Serbia...
Maintaining records of processing activities
According to the GDPR requirements, failure to comply with obligation to maintain records of processing activities may result in an administrative fine.
WiEReG: the Beneficial Owners Register Act in Austria
According to the WiEReG, the Austrian Beneficial Owners Register Act, data about the beneficial owners of all Austrian legal entities have to be transmitted electronically via the Austrian Government’s Business Service Portal. Newly established companies have to...
Asset value methods in business valuations
Starting our series of articles off we looked at the cases when business valuations may be necessary, and the possible methods, then we conducted a thorough analysis of the features of income-based methods and comparables methods; in this article we are going to...
Submission of information in Bulgaria for sales through on-line stores
From 28. December 2018 information about sales through on-line stores has to be submitted to the National Revenue Agency in Bulgaria. If a person already carries out commercial activity through an on-line store at this date, the required information should be...
