News
Registration of a legal entity in Russia in 5 steps
Anyone going to do business in Russia or managing to establish a Russian subsidiary in the form of a limited liability company (LLC) is surely interested in the details of registering a legal entity in Russia. In this article we will give you a useful...
read moreTransfer tax exemption in property sales in Hungary
Our phones were rather busy at our Hungarian office prior to Christmas in 2009. Everybody wanted to sell their shares in companies owning real estate, since at that time, if you acquired properties this way, the party acquiring the share was granted...
read moreOnline invoicing in Hungary: you can register in the live system from 18 June
Not many are looking forward to it, but it is almost here. There are only a good two weeks left until 1 July when online invoicing will go live. According to the Hungarian tax authority, affected companies should have laid the foundations for...
read moreNew rules regarding mergers, fusions and demergers in Slovakia
From 1 January 2018, amendments to the Slovak Commercial Code entered into force in order to improve the business environment, and among other things, to stop fraudulent practices related to reorganisations. The amendments introduced new obligations and...
read moreWTS Global and LATAXNET entered into an exclusive cooperation agreement
With the cooperation agreement between both tax networks signed by Cristian Alba Rosso, President of LATAXNET and Fritz Esterer, Chairman of WTS Global, WTS Global has now top-tier coverage in 18 South American countries. WTS Global and LATAXNET started an exclusive...
read moreProduct fee warehouse – product fee payment liability can be avoided
The product fee regulation in Hungary contains several tools with which the product fee payment liability can be avoided. One such option is the product fee warehouse which was introduced nearly 4 years ago, yet experience shows that companies in Hungary...
read moreAccounting of a spin-off in Austria
The accounting treatment and the presentation of a spin-off can be challenging in practice. In this article we would like to highlight the accounting consequences of a spin-off in Austria from the transferring entity’s point of view. Our examination is...
read moreRight to deduct VAT and right for a refund of VAT
The increased activity of the Court of Justice of the European Union is exerting a growing impact on the cross-border business activities of companies and on related tax issues. We recently reported on the ruling of the Court of Justice of the European...
read moreWTS Klient Hungary awarded title of Reliable Employer
The German-Hungarian Chamber of Industry and Commerce has awarded WTS Klient Hungary the title of “Reliable Employer 2018-2019” based on the company’s HR management practices. This is awarded by the jury to companies that are exemplary in looking after their...
read morePolish monitoring system will be extended to rail transport
Rail transport will be shortly a part of the monitoring system in Poland as a result of latest amendments to the Carriage of Goods by Road Act that have been approved by signature of President of Poland on 28 May 2018. Work on the amendments to the...
read moreIFRS 16: integrating off-balance-sheet financing into the balance sheet
From a Hungarian point of view, recent years have seen extensive harmonisation in the accounting practice of lease contracts. Although the detailed regulations and conditions may contain some differences, the International Financial Reporting Standards...
read moreWTS Global is again the European Indirect Tax Firm of the Year
For the second year in a row, WTS Global has been rewarded with the "European Indirect Tax Firm of the Year" by International Tax Review at European Tax Awards Ceremony 2018 held on May 17 in London. The award acknowledges, once again, the excellent work of the...
read moreBasic payroll principles: what employers in Hungary definitely need to know
What are the key deadlines employers have to observe and what tasks do they have to perform to comply with relevant laws and regulations? These are some of the questions we seek answers to in this article, along with providing some useful...
read moreDraft law on BEPS implementation is still on the agenda in Ukraine
Although Ukraine updated transfer pricing rules for 2018 in January, these changes were rather technical character. Hence, the draft law on BEPS implementation from September last year is still on the agenda in Ukraine without any changes. Due to the...
read moreChallenges faced by international companies in Hungary in 2018
After labour shortages, online invoicing is the second major challenge for international companies operating in Hungary in 2018 – as revealed by our survey conducted among more than 100 finance managers at the beginning of this year. At the beginning of...
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