On 11 June 2025, the Hungarian Parliament adopted the Hungarian summer tax package 2025, which introduces significant amendments across various areas of the Hungarian tax system, i...

From next year, it will be easier for multinational groups (MNEs) to comply with the administrative obligations related to the global minimum tax (GloBE), including by allowing the...

According to the amendment to the Hungarian Act on Rules of Taxation, which entered into force on 1 January 2025, the Hungarian tax authority will require taxpayers to pay the amou...

At the end of April 2025, just over two months from now, the deadline for the refund of VAT on pharmaceutical tax payments, i.e. the VAT paid by pharmaceutical manufacturers and di...

With the merger of VGD Hungary into WTS Klient Business Advisory Ltd, Viktor Szabó will continue his career as a tax partner from 1 January 2025, announced the WTS Klient Group, w...

The affected calendar year taxpayers have already passed the first global minimum tax obligation, i.e. they have fulfilled the reporting obligation using the GLOBE form. However, b...

The last day of the year is coming up, which is also the deadline for reporting data to the Hungarian tax authority for the global minimum tax. If you include the upcoming holidays...

The Hungarian Parliament has adopted the 2025 tax law amendments. The majority of the proposals described in our earlier article and submitted on 29 October were adopted at the par...

On 29 October the Hungarian government submitted the draft 2024 autumn tax law amendments to the Parliament. By amending the tax laws the legislators are aiming, among other things...

A for-profit company is basically set up with the aim of distributing profits to the owners in proportion to their shareholding in the company, i.e. dividends. Dividends can only b...

Tamás Gyányi, András Szadai, Réka Kiss, Tamás László and Zoltán Cseri were also included this year in the ITR World Tax Leaders 2025, a compilation of the world’s bes...

The question of a fixed establishment, especially in value added tax, remains a complex issue. This is true despite the fact that, in addition to the VAT Directive (2006/112/EC), C...

We’re in the middle of summer, when even those who have been working hard and are just starting to browse the offers of accommodation providers on the various online platforms ar...

Directive 2008/9/EC lays down detailed rules for the refund of value added tax, provided for in Directive 2006/112/EC, to taxable persons not established in the Member State of ref...

[et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.15″] In one of our previous articles we presente...

“You snooze, you lose” is a warning commonly heard in discussions about artificial intelligence. The possibilities and areas where artificial intelligence in tax consultancy ca...

As a result of the pandemic and the digitisation, working from home office or more precisely, working from anywhere becomes more prevalent in a lot of business sectors. Thus, compa...

One of the changes brought on by the Hungarian tax law amendments announced at the end of November 2023 is that previously acquired shares not notified to the tax authority can now...

One of the most significant changes in 2024 to the Act on Accounting is the introduction of deferred tax in Hungarian accounting thanks to the global minimum tax harmonisation, mea...

Summarising the 2024 tax amendments is not an easy task, since the detailed rules for many different taxes have changed based on the tax amendment proposals adopted in 2023, and in...

From this year, significant changes will come into force in the VAT Act of Slovakia, as well as in the Slovakian Income Tax Act. The latest amendments of the VAT Act of Slovakia ar...

As already mentioned in our summary of the autumn tax law amendments, a government decree entered into force in Hungary on 16 November (enacted in law on 30 November) exempting cer...

The long-awaited draft law on top-up taxes in the Czech Republic for the purpose of ensuring a minimum level of taxation of large groups, has entered the phase of comment procedure...

In August 2023, a large part of Slovenia was hit by devastating floods, which left considerable economic damage behind. Measures to eliminate the consequences of natural disasters ...

On 31 October 2023, the Hungarian government submitted to Parliament its 2023 autumn tax law amendments bill, which contains the planned tax amendments that will come into force fr...

Tax residents of the Republic of Serbia and foreign individuals (tax non-residents) who perform business activities as freelancers in Serbia or from Serbia, during the period of ea...

SAF-T represents standard audit file for tax, basically a tax return containing the main transactions incurred by a company. It is an international standard, a harmonised XML schem...

The top of the ITR ranking features Zoltán Cseri and Tamás László, two senior managers at WTS Klient, who are rated as “Rising stars” in the indirect tax category of the Wo...

The summer season will soon be over, but it’s still not too late to have a think about the tax issues that arise with accommodation services in Hungary.  This is because given t...

On 11 May 2023 the country’s government has presented the Czech recovery package. The consolidation package of 58 measures should lead to a reduction in the public budget deficit...

On 6 June the Government submitted to the Hungarian National Assembly its bill on contributions from airlines and amending certain tax laws. The 2023 spring tax amendments do not c...

The owners of two leading entities on the Hungarian accounting and tax advisory market, WTS Klient Business Advisory Ltd. and Finacont Ltd., have decided to serve their clients in ...

31 March, the final deadline for submitting annual financial statements and corporate income tax returns for 2022 for non-audited companies in Slovenia is fast approaching. Below w...

On 1 December 2022 the Polish Sejm, the lower house of the Polish Parliament adopted a draft law amending the Labour Code in Poland. The amendment has changed the status of remote ...

Bulgarian legislators have ensured that this year starts well for Bulgarian taxpayers. Medium-sized enterprises which incurred significant compliance costs and which were less comp...

On 2 December 2022, a set of tax amendments traditionally referred to as the 2023 tax package for the Czech Republic was published in the Collection of Laws. The 2023 tax package f...

Two years ago, the Polish government introduced a set of tax measures in order to simplify VAT settlements in Poland. Since the introduction of the first series of the SLIM VAT (Si...

At the end of August 2022, an amendment to the VAT Act of Slovakia has been adopted by the Slovak Parliament. The changes include, among others, the cancellation of mandatory VAT r...

Interested in investing in the Serbian IT industry? In our article we will describe the main phases of the acquisition of a Serbian IT company, and explain, why is it worth investi...

On the evening of 18 October 2022, in a 104-page document, the Hungarian Deputy Prime Minister submitted to the National Assembly the latest proposals regarding the tax amendments ...

At the beginning of July 2022, in the wake of the energy crisis which caused the skyrocketing of fuel prices, the Bulgarian National Assembly adopted a number of tax measures affec...

At the end of August, the Income Tax Act of Slovakia has been significantly changed. According to the amendments, safe harbour rule is being introduced and the procedure of taxpaye...

The International Tax Review (ITR), Europe’s market-leading tax magazine, has prepared a list of the top-ranking tax consultants in the world for the 11th time this year. The cre...

One of the most drastic changes to Hungarian tax law in recent times, the tightening of the low-tax system (KATA) came out of the blue in the Hungarian economy in mid-July. As a re...

The term deferred tax rings familiar to Hungarian experts who are involved in the accounting of Hungarian subsidiaries of foreign groups and preparing their group financial stateme...

On 15 July 2022, the Romanian Fiscal Code was significantly amended. The changes were published in Ordinance no. 16/2022 in the Official Gazette no. 716 and will take effect on 1 J...

The bill submitted on 11 July 2022 and adopted the next day by the Hungarian Parliament, which contains significant amendments to the rules on the low tax scheme, is aimed at curta...

This year, significant VAT changes have been introduced in Slovenia. The most important VAT changes relate to the expansion of the reverse charge system for foreign entities in Slo...

Not long after the introduction of the extra-profit tax and the increase of other existing taxes detailed in Government Decree No. 197/2022, new significant tax amendments were sub...

The Czech Supreme Administrative Court has recently made two important decisions regarding the definition of related parties in the Czech Republic. Accordingly, the tax authority h...

The details of the so-called extra-profit tax announced earlier by the Hungarian government were revealed in the 2022/93 edition of the Hungarian Gazette on 4 June 2022. Government...

In the current months, all companies in Slovakia receive a notification from the Financial Administration of the Slovak Republic about the classification of tax subjects according ...

On 9 May 2022 the Polish Minister of Health published a draft legislation on lifting the state of epidemic in Poland. The state of epidemic, which was introduced in Poland on 20 Ma...

As part of the Austrian Eco-Social Tax Reform 2022 (Ökosoziale Steuerreform 2022), the taxation of cryptocurrencies in Austria is now included in the existing tax regime for capit...

In December 2021 the European Commission published its proposed directive setting out the detailed rules of the global minimum tax in support of the implementation of the OECD Mode...

Currently, a private person resident in Slovenia, is not taxed on the realised capital gain from the sale or use of virtual currencies, unless the activity is considered to be a pr...

Almost hidden among the Hungarian government’s tax changes for 2022 (personal income tax rebate for parents, personal income tax exemption for people under 25, etc.) are provisio...

On 23 November, the Hungarian government submitted to the National Assembly its new tax law amendments for 2022, mostly tax cuts, in two highly significant bills. The key elements ...

In accordance with Law No. 7338, which was promulgated in the Official Gazette of 26 October 2021, several significant amendments have been implemented to the Tax Procedural Law an...

On 17 June 2021, the Court of Justice of the European Union (CJEU) issued a very important judgement regarding the VAT exemption available for the management of special investment ...

On 26 July 2021, the Polish Government published a package of legislative proposals to make important amendments to various tax laws, including Polish WHT regulations. The draft la...

Dividends in Belarus constitute income which is generally taxed with 13% personal income tax. However, the tax payment procedure differs for dividends sourced in Belarus and from a...

Both in the legislative and enforcement fields, much has happened since the Court of Justice of the European Union issued an order in the PORR case on 24 October 2019 in respect of...

Leasing personnel to Austria by foreign companies is subject to a withholding tax (WHT) of 20% in Austria. The payer must deduct this WHT at source and transfer it to the competent...

The 2022 bill, which was submitted by the Hungarian Minister of Finance to the National Assembly on 11 May, summarises the tax amendment plans of the Hungarian government. Bill No....

A few years ago, the Digital Service Tax was rarely heard of in Europe. Now many EU countries have proposed, announced or already implemented some form of this tax type. Poland joi...

Last year, the regulation of business purpose was changed two times in Ukraine. Law 466-IX, which supplemented the definition of reasonable economic purpose and introduced the appl...

In recent years the European Commission has compiled a legislative package that reforms the regulation of online commerce, among other things by extending one-stop shop systems. Th...

Home office or remote work in Austria can have different consequences in the taxation and the social security obligations depending on whether the employee works from home only dur...

In January 2021, the French business law firm Fidal joined WTS Global as the newest member of the leading global tax practice. Founded originally as a tax firm in 1922, Fidal today...

From 2021 significant changes entered into force to the Fiscal Code of Romania. The amendments were published under Law no. 296/2020 in the Romanian Official Gazette no. 1269 on 21...

On 1 January significant tax changes came into effect in the Czech Republic. The 2021 tax package for the Czech Republic includes a respective collection of amendments and was publ...

The popularity of branch offices in Hungary is unrelenting, and they are perhaps even gaining in popularity among foreign investors compared to establishing a subsidiary. Below we ...

The amendment to Hungarian Act CXLVII of 2012 on the Fixed-Rate Tax for Low Tax Bracket Entities (Hungarian abbreviation: KATA) and the Small Business Tax, which will enter into fo...

Law No. 7256 on the Restructuring of Public Receivables and Amending Certain Laws was promulgated in the Official Gazette of Turkey no. 3130 on 17 November 2020, and took effect th...

The Hungarian National Assembly has accepted next year’s tax amendments submitted in October under the title of 2021 tax amendments. The majority of the proposals described in ou...

On 26 October 2020 the Romanian Government published Government Emergency Ordinance no. 181/2020 in Official Gazette no. 988. The ordinance, which entered into force on the day of ...

Limited liability companies often need to raise capital to expand their business, enter new markets or invest in R&D. While the financing options are numerous, each choice come...

With the submission of bill no. T/13258, the 2021 tax law amendments were presented to the Hungarian Parliament on 13 October. Some of the changes ensure compliance with EU regulat...

In the “fight” against the COVID-19 crisis, the Austrian government has decided on further support measures for particularly affected industries. One of the measures includes a...

On 1 July 2020 an anti-crisis tax package came into force in the Czech Republic to mitigate the adverse economic impacts of the coronavirus pandemic on entrepreneurs and companies....

At the beginning of the COVID-19 pandemic the main priority of the Austrian government was to ensure the solvency of companies. Different measures like a funded short-time working ...

On 3 July 2020 the Hungarian National Assembly accepted the bill on the 2021 budget. The law contains many material tax changes for 2020 and 2021. One of the main parts of the 2020...

A comprehensive tax package was adopted by the European Commission on 15 July in the fight against tax evasion and tax abuse. The two keywords in the EU action plan are fairness an...

Extension of deadlines, granting of fiscal facilities for the payment of annual income tax, fiscal amnesty on interest and penalties and other ancillary payments for certain taxpay...

During the coronavirus pandemic, among the numerous and fast legislative changes and economic measures rolled out by governments, Latvia has also introduced other changes to Latvia...

In recent days and weeks in Hungary we have had to familiarise ourselves with a number of regulations affecting taxation. It is not easy to come to grips with the changing legal en...

The majority of Hungarian businesses need to meet their obligations to prepare and publish financial statements and to file tax returns and pay taxes until 30 September. The latest...

Hungary is to introduce a special tax on credit institutions and a retail tax on 1 May. Government Decrees 108/2020 and 109/2020 on filling up the Pandemic Fund established to exec...

Due to amendments of the Austrian Income Tax Act effective from 1 January this year, the monthly wage withholding tax obligation has been extended in Austria. According to the chan...

The Hungarian legal system is to expand the scope of the online data reporting obligation for invoicing to almost all transactions in two stages, from 1 July 2020 and 1 January 202...

Decrease in the income tax rate and simplified calculation of the income tax base are two of the key amendments to the Slovakian Income Tax Act effective since 1 January 2020. The ...

The majority of businesses have most probably already encountered a situation where one of their customers could not pay, therefore their receivable turned into an irrecoverable de...

On 3 December 2019 the Hungarian National Assembly approved the autumn tax law amendments entitled “Bill for the amendment of certain laws designed to implement various tax measu...