WTS CEE News

Introduction of non-life insurance tax and other changes in Slovakian tax system

On 1 January 2019 a new indirect tax was introduced in Slovakia. The non-life insurance tax rate is 8%, and generally applies to all non-life insurance contracts. Apart from the introduction of the non-life insurance tax, the Act on Income Tax and the Act on Vocational Education and Training were also amended in Slovakia.  In

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New transfer pricing regulations in Poland come into effect

Significant changes to the transfer pricing regulations in Poland came into force from 1 January 2019. One amendment is the introduction of safe harbours.

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Ultimate beneficial owners have to be disclosed also in Lithuania

As of 1 January 2019, all companies registered in Lithuania disclose their ultimate beneficial owners with the JADIS Information System by 1 July 2019.

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Tax benefits related to research and development in Central and Eastern Europe

The 2018 winter issue of WTS CEE Tax Bridge has been published. It focuses on tax incentives related to research and development costs and royalty revenue in nine Central and Eastern European countries: Austria, Cyprus, the Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia and Slovenia.

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The new draft of Corporate Income Tax Law in Serbia

With effect from 1 January 2019 significant amendments to the Corporate Income Tax Law in Serbia are expected. The new draft has been published by the Ministry of Finance of the Republic of Serbia on 6 November 2018. The new draft of Corporate Income Tax Law in Serbia presents tax advantages for companies with intellectual

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WiEReG: the Beneficial Owners Register Act in Austria

According to the WiEReG, the Austrian Beneficial Owners Register Act, data about the beneficial owners of all Austrian legal entities have to be transmitted electronically via the Austrian Government’s Business Service Portal. Newly established companies have to fulfil this obligation within four weeks of incorporation. As we have written in an earlier article, since 15

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Submission of information in Bulgaria for sales through on-line stores

From 28. December 2018 information about sales through on-line stores has to be submitted to the National Revenue Agency in Bulgaria. If a person already carries out commercial activity through an on-line store at this date, the required information should be submitted no later than 28. March 2019. In the Bulgarian State Gazette No. 80/28.09.2018

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VAT exemption for supply of software products in Ukraine

Ukraine has a few tax benefits for transactions on supply of software products in order to maintain the competitiveness of domestic software developers.

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General VAT compliance obligations and registration requirements for Romanian companies

Romanian tax authorities want to fight against VAT fraud through a rigid VAT registration procedure and a strict VAT risk analysis applicable to Romanian companies. However, Romanian branches of foreign companies registering directly for VAT purposes in Romania are not subject to these. Romanian VAT payers include local, Romanian companies, as well as non-resident companies

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Amendment to the Czech VAT Act effective from 2019

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Possibilities and legal framework of investing in Belarus

Investing in Belarus is a great opportunity for foreign companies due to its location and favourable investment regulations.

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Recent trends in the income taxation of non-residents in Ukraine

The standard personal income tax rate of 18% applies in Ukraine also to income earned by tax non-residents from sources in Ukraine, unless otherwise specified in the Ukrainian Tax Code. Also military tax, which was introduced in 2014 in Ukraine, should be paid by non-residents. In Ukraine, non-resident individuals are subject to personal income tax

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Major differences in the VAT system of the CEE countries to the EU regulations

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New withholding tax collection mechanism in Poland

The Ministry of Finance in Poland has recently published the Draft Act to amend the Corporate Income Tax Act (CIT), the Personal Income Tax Act (PIT), the Tax Management Act and certain other acts. The proposed law introduces fundamental changes to the collection of withholding tax (WHT) in Poland. The new treatment will apply to

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2019 tax package for the Czech Republic

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No Austrian RETT upon indirect transfer of shares in a property owning company

According to the national law, Austrian RETT is triggered not only if an Austrian real estate is transferred, but also if at least 95% of the shares in a property owning company are transferred or consolidated in the hands of one single owner. The Annual Tax Amendment Act 2018 now clarifies also that shareholders are

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The most important changes brought by the Lithuanian personal income tax reform

The Lithuanian tax reform affecting employment taxation and introducing progressive PIT was adopted on 13 July and comes into force on 1 January 2019.

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VAT reclaim – Turkish and Serbian VAT will be reclaimable

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New possibility for distribution of dividends in Romania

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Governmental draft of amendment to Slovakian VAT Act

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