Press release
The third national tax consultation, how would you rate the Hungarian Tax Authority?
The question in the title of our article was asked at the third national tax consultation held on 4 October, namely, how you would rate the Hungarian tax authority. The answers at the event were provided by tax advisors, not taxpayers. We will reveal what they said at...
Major differences in the VAT system of the CEE countries to the EU regulations
The 2018 autumn issue of WTS CEE Tax Bridge has been published. It summarizes the most important differences in the VAT system of nine Central and Eastern European countries to the EU regulations: Austria, the Czech Republic, Hungary, Poland, Romania,...
New withholding tax collection mechanism in Poland
The Ministry of Finance in Poland has recently published the Draft Act to amend the Corporate Income Tax Act (CIT), the Personal Income Tax Act (PIT), the Tax Management Act and certain other acts. The proposed law introduces fundamental changes to the collection of...
Most important privacy statement requirements in terms of form and content at the NAIH
The position of the National Authority for Data Protection and Freedom of Information in Hungary (hereinafter referred to as: NAIH) on the data protection reform, its (former) recommendations as well as resolutions passed in individual cases may serve as a guide for...
SAR, the Russian alternative to “offshores”
In August 2018, the State Duma of the Russian Federation adopted a package of laws designed to create "offshore" zones on Russian territory. Under these laws, special administrative regions (hereinafter SAR) were created in Kaliningrad (Oktyabrsky Island) and in...
Accounting policies: guidelines for accounting transactions at companies
The accounting policies contain a summary regulation about the company’s accounting procedures. The basic principles are regulated by the Act on Accounting.
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...
Transfer Pricing for Financial Transactions: WTS Global reply to OECD
WTS Global participates in the public consultation round of the OECD, by providing extensive comments on the non-consensus discussion draft on transfer pricing aspects of financial transactions. The OECD draft issued on 3 July 2018 can be consulted through the...
Busy autumn ahead for companies supporting spectator team sports
In 2017 the European Union gave the green light for another 7 years to the Hungarian system of supporting spectator team sports, i.e. football, handball, basketball, water polo, ice hockey and volleyball. In this article we would like to draw the attention of business...
No Austrian RETT upon indirect transfer of shares in a property owning company
According to the national law, Austrian RETT is triggered not only if an Austrian real estate is transferred, but also if at least 95% of the shares in a property owning company are transferred or consolidated in the hands of one single owner. The Annual Tax Amendment...
Call-off stock simplification rule
Manufacturing firms in Hungary normally have a lot of foreign suppliers, mainly from the EU. For taxation purposes it can be particularly important for them to know whether they can apply the call-off stock simplification rule. In this article I would like to respond...
The most important changes brought by the Lithuanian personal income tax reform
The Lithuanian tax reform affecting employment taxation and introducing progressive PIT was adopted on 13 July and comes into force on 1 January 2019.
VAT reclaim – Turkish and Serbian VAT will be reclaimable
Don’t forget, there are less than two weeks left until 30 September, the deadline for any reclaim of foreign VAT. Thanks to this special procedure to be initiated at the Hungarian Tax Authority by submitting an ELEKÁFA form, VAT on an invoice...
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...
WTS Global strengthens its footprint in the US
Mark van der Linden leads WTS Global new offices in New York and San Francisco. With this step WTS Global strengthens its footprint in the US.
