Tax & Legal Update
Another amendment to the new Civil Code and Corporations Act
In late September, a group of deputies submitted to the government a bill partly modifying the yet unamended core regulations of the new private law – the Civil Code and the Act on Corporations. The proposed changes mostly concern unit owners’…
New calls under the ICT and Shared Services programme
At the end of October, first calls within the long-awaited second call under the Enterprise and Innovations for Competitiveness Operational Programme (OP EIC) were finally announced. In addition to calls designed for small and medium-size businesses…
GFD’s information on reverse-charge application on telecommunication services: some…
The reverse-charge regime has been applied to selected electronic communication services since 1 October 2016. The General Financial Directorate (the "GFD") has published information that should have clarified reverse-charge application conditions.…
Where to, income tax?
Discussions regarding a new long-awaited Income Tax Act have again been growing in intensity. In a recently published document the Ministry of Finance reveals some of its first intentions and concepts.
SAC: To err is human even for accountants
The Supreme Administrative Court has finally and conclusively clarified the issue of applying the accrual principle to the taxation of accounting revenues by rejecting the retrospective current period taxation of revenues forgotten for many years.…
SAC: Tax administrators have to obtain a key witness statement
Has the tax administrator challenged the delivery of supplies or services on the grounds of your supplier being uncontactable? The Supreme Administrative Court in its recent judgment confirmed that the tax authority has to make all efforts and use…
Right to deduct VAT without meeting the required essentials of a tax document
In September, the Court of Justice of the EU (CJEU) ruled on case C-518/14 Senatex GmbH. In the case, the tax administrator challenged the entitlement to VAT deduction based on tax documents that did not contain the tax identification number (VAT No…
Concurrence of offices before the Constitutional Court
Even though in its new judgement of late September the Constitutional Court opined on the concurrence of the offices of chair of the board of directors and managing director, the ruling did not bring the long-awaited clarification of the issue. The…
First step towards a new EU list of third country jurisdictions
On 12 September, the European Commission presented a scoreboard of third country jurisdictions containing indicators monitoring their tax administrations’ best practices. It is the first step towards a common EU list of uncooperating jurisdictions.…
AML rules even stricter
The transposition of the new EU directive on the prevention of the use of the financial system for money laundering or terrorist financing purposes is far from complete. However, the European Commission has already submitted a proposal further…