Press release
100% advance an option if residential property not completed by end of 2019
If new house projects are not completed by the end of 2019, it is worth considering paying a 100% advance to take advantage of the 5% VAT rate.
New possibility for distribution of dividends in Romania
From July 2018 distribution of dividends in Romania is permitted before the closing of the financial year. The quarterly distribution is enabled through Law No. 163/2018 which was published in the Romanian Official Gazette on 12 July 2018 and...
Dramatic changes in social contribution tax and health-care contribution system from 2019
The Hungarian Parliament has accepted the 2019 tax law amendments aimed at making the tax regime more efficient. In our article we aim to provide some useful information about the consolidation and changes of the health-care contribution (eho) and social contribution...
Governmental draft of amendment to Slovakian VAT Act
On 1 January 2019 an amendment to the Slovakian VAT Act will come into force. The draft, which among other things removes the tax guarantee, is currently undergoing interdepartmental discussions in the Slovakian Parliament. No tax guarantee any...
Employment deviating from employment contracts
An employer at any company may decide to employ someone temporarily in a manner deviating from employment contracts, in another position (reallocation), at another workplace (secondment) or at another employer (temporary assignment). This option is provided for in...
Establishing a company in Central and Eastern Europe
The 2018 summer issue of WTS CEE Tax Bridge has been published. It summarizes the most important regulations of establishing a company in 13 countries of the Central and Eastern Europe Region: Austria, Belarus, the Czech Republic, Hungary, Latvia, Poland,...
The increase of the general VAT rate in Russia from 18% to 20%
The President of the Russian Federation signed the Federal Law providing an increase of the VAT rate in Russia from 18% to 20% from 1 January 2019. On 1 January 2019, Federal Law No. 303-FZ of 3 August 2018 should come into force, providing of an increase of the basic...
Likely negative tax implications of mergers
Several of our articles have dealt with the reasons for transformations and the challenges involved in Hungary, including related accounting procedures and taxation issues. Generally speaking, the motivation behind mergers is mainly driven by expectations to reduce...
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 recognition of...
So 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 deduction rights,...
Amendments 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 will come...
Business 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...
Amendment to the Czech Construction Act has not met all expectations
Czech-Tax-News-2018On 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 article we show the pros and cons.
2019 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 LXI of 2018. Further changes and refinements are expected to come in the autumn, adding to the 2019 tax...
Sanctions 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...
