News
Call-off stock simplification rule – avoiding registration as a Hungarian taxpayer
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...
read moreThe most important changes brought by the Lithuanian personal income tax reform
On 13 July 2018 the Lithuanian Parliament adopted important amendments to the Law on Personal Income Tax and to the Law on State Social Insurance. The Lithuanian tax reform affecting employment taxation comes into force on 1 January 2019. The reform...
read moreVAT 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...
read moreNew 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....
read moreWTS Global strengthens its footprint in the US
After the South American tax market WTS Global now strengthens its footprint in North America by opening US desk in New York and San Francisco. With this step WTS Global is moving closer to its member firms’ US-headquartered clients and will better support...
read more100% advance an option if residential property not completed by end of 2019
The current legislative environment is fairly favourable for those buying a new apartment or detached house in Hungary. Only 5% VAT is applicable for such turnkey properties until the end of 2019. What can you do as a property developer, what...
read moreNew 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...
read moreDramatic 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...
read moreGovernmental 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 more...
read moreEmployment 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...
read moreEstablishing 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,...
read moreThe 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...
read moreLikely 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...
read moreKey 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...
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