Press release
Financial statements in Poland soon to be in electronic form only
On 12 February 2018, the Polish president signed the Act, which changes the act on the National Court Register. The new law took effect on 15 March and introduces the electronic filing of financial statements in Poland in two steps.
Checking email accounts used for work purposes
Legal compliance with the General Data Protection Regulation (GDPR) of the European Union is one of the key areas of personal data management in connection with employment. In our earlier article we wrote about the proper management of personal data before...
Implementation of BEPS regulation in Serbia
On 29 December 2017, the Government of Republic of Serbia proposed the law on ratifying multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting to the National Assembly. Adopting this will be a milestone...
Tasks of business entities after a company registration in Hungary
The authorities may impose a default penalty on companies that fail to fulfil their accounting and taxation obligations after a company registration.
New requirements for Austrian private foundations and trusts
According to the Austrian Beneficial Owners Register Act (Wirtschaftliche Eigentümer Registergesetz, WiEReG) all Austrian legal entities – including Austrian private foundations and trusts – have to report their beneficial owners to a central register. The WiEReG –...
Tax implications of property development
In this article we present the tax implications of property development that property developers should consider before their purchases and developments.
WTS Global creates cutting-edge European Tax Law Centre in Brussels
WTS Global, the leading global tax practice, establishes its cutting-edge European Tax Lax Centre in Brussels under the leadership of Tiberghien. WTS Global has launched its European Tax Law Centre (ETLC) in Brussels which, under the leadership of its Belgium member...
VAT exemption of services directly related to the export or import of goods in the Czech Republic
From 1 March the financial administration in the Czech Republic has to apply stricter guideline on applying VAT to services directly related to the export or import of goods. The guideline was issued by the Czech General Financial Directorate in response...
Financial diagnostics: are the finances of your company in order?
In addition to having appropriate products and services, a company’s taxation and financial issues must be in order to ensure successful and sustained operations. Financial diagnostics helps with this. Large companies generally have the necessary staff. It is not...
Application of the Value Added Tax Guarantee Mechanism in Slovakia
In connection with the amendment to the VAT Act, the Financial Directorate of the Slovak Republic issued a new methodological guidance on the value added tax guarantee mechanism, effective from 1 January 2018. One of the main criteria for the application...
How to reclaim money from the NAV: the benefits of health fund membership
I doubt there is anybody in Hungary who hasn’t yet heard of health funds. Many take advantage of the 20% tax credit that can be reclaimed from personal income tax through health funds. In our experience, however, plenty of people, even members, are not...
Significant changes in the Romanian VAT split payment system
On 28 December 2017 law no. 275/2017 has been published in the Official Gazette in Romania. The law approves Governmental Ordinance 23/2017 regarding the Romanian VAT split payment mechanism, but brought significant amendments to that. The VAT split...
New transfer pricing documentation decree allows for self-revisions
The term “self-revision” appeared in the text of the transfer pricing documentation decree in effect from 2018. Enabling the subsequent correction of errors is one of the most important new features in the legal regulation published on 18 October 2017 in...
Supplies of goods via consignment stocks in Germany as of 2019
No VAT registration is needed for foreign suppliers in Germany with respect to shipments from EU countries to German consignment stocks under certain circumstances. Here we show you the details of the new rules of the German VAT Circular. In October 2017,...
New draft decree on live invoicing, or online data reporting
A new draft decree has been published on the government’s website about live invoicing. Our article summaries the changes expected in Hungary from 1 July.
