Tax & Legal Update
EU to liberate non-personal data?
Recently, much attention has been paid to the new EU General Data Protection Regulation (GDPR) that provides for the protection and free movement of personal data. The European Commission has now passed a proposal for a directly applicable…
News in international tax cooperation
We have seen many changes in international tax cooperation in recent years, especially in the area of multilateral instruments. 2017 introduced a few novelties in bilateral double taxation treaties. An overview of the changes in these treaties…
Will some investment funds lose their tax advantage?
In December, the Senate submitted to the Chamber of Deputies its own draft amendment to the Income Tax Act designed to narrow the definition of basic investment funds.
ERS changed and its further fate questioned
Those of you getting ready to join the ERS regime should pay attention: in the middle of last December, the Constitutional Court cancelled some provisions of the Act on the Electronic Reporting of Sales. This judgement will also affect some who are…
Amendments to GFD’s information effective from January
The General Financial Directorate (GFD) announced that the existing approach to the waiver of penalties for the failure to file VAT ledger statements will also be applied in 2018 and that the unreliable payer concept criteria will be extended…
VAT not to be included in acquirer’s immovable property acquisition tax base
VAT will not be included in the immovable property acquisition tax base even if the person liable to this tax is the acquirer. Based on this, persons liable to immovable property acquisition tax may file additional tax returns and claim part of the…
Opportunity to obtain aid from public resources in 2018
Numerous businesses use various forms of public support to finance their investments. New financing opportunities for 2018 have already been announced or are currently under preparation. Utilised most commonly are investment incentives, subsidies…
Top ten legal news items for businesses in 2018
What will the upcoming year bring for businesses? Below, we present an outline of the most important legal changes in the area of financial services, social security and personal data protection.
Technical improvements and advertising services once again on the SAC’s agenda
The Supreme Administrative Court (SAC) in its recent judgement dealt yet again with the issue of repairs vs technical improvements and the application of related depreciation by a tax administrator during a tax inspection. The court also opined on…
SAC confirms ‘tax inspections beyond regional borders’
Increasingly often, the financial administration has been concentrating related tax inspections into the hands of a single tax administrator. This concept, referred to as ‘delegation’, considerably simplifies the work of the tax authorities. For…
Delivery of goods from EU to consignment stock in Germany not necessarily subject to…
Until now, German tax authorities used to consider the delivery of goods from member states to a consignment stock in Germany as a transfer of goods, requiring the supplier’s registration for VAT in Germany. On the date of taking the goods from the…