Taxes
Reporting cross-border transactions
On 5 June 2018, DAC 6 was published in the EU Official Journal. It introduces a new reporting duty and automated information exchange for cross-border arrangements motivated by obtaining a tax advantage.
Controversial amendment to Tax Procedure Code published in Collection of Laws
In early June, a long-awaited and widely discussed amendment to the Tax Procedure Code was published in the Collection of Laws. The amendment expands the information duty towards tax administrators and implements – with a few months’ delay – the EU…
Taxation of listed investment funds is changing
In mid-June, the Chamber of Deputies passed a draft amendment to the Income Tax Act that alters the definition of a basic investment fund. The amendment regulates conditions under which funds whose shares have been accepted for trading on an EU…
2019 amendment to VAT Act: other three important changes
A draft amendment to the VAT Act has been submitted to the Chamber of Deputies. Below we present three significant changes.
Changes to 2019 tax package: new reporting duty and abuse of right concept
The 2019 tax package, in its external comment procedure since February, is about to be submitted to the government. The comment procedure brought a number of changes: the Ministry of Finance added a new duty to report income flowing abroad and…
Changes to 2019 tax package: corporate income tax
The proposed amendment to the Income Tax Act has passed through external comments and is now available in the government’s public electronic library, with some fundamental changes to its wording compared with the previous version.
2019 amendment to VAT Act: first four biggest changes
The amendment to the VAT Act has passed through its comment procedure and is about to be submitted to the Chamber of Deputies. Below we present the first four most significant changes.
OP EIC update
The media has disclosed information about the EU suspending the provision of aid within the Enterprise and Innovation for Competitiveness Operational Programme, whose governing body is the Ministry of Industry and Trade, as a result of a high error…
Witness testimonies in tax proceedings?
Along with supporting documentation, witness testimonies are the most common and most important means of proof. A tax administrator’s refusal to hear a witness may even lead to the unlawfulness of payment assessments. What are the tax authority’s…
More changes to ERS and VAT rates?
The Ministry of Finance released for external comments a draft amendment to the Act on Electronic Reporting of Sales and the VAT Act. The proposed effective date is 1 January 2019, excepting the provisions concerning the launch of the last phases of…
Extended information duty towards tax administrators currently in the Senate
In early spring, the Chamber of Deputies approved an amendment to the Tax Procedure Code, expanding the information duty towards tax administrators from financial institutions to attorneys and tax advisors. A draft amendment and motions to amend the…
Brexit: customs and indirect taxes if Great Britain turns into a third country
The two-year deadline that started on the date Great Britain announced its intention to exit the EU will expire on 29 March 2019. If Britain and the EU do not agree on a specific transitory period by then, any and all primary and secondary EU laws…