News in brief, September 2021

Last month’s tax and legal news in a few sentences.

  • The Ministry of Finance has submitted an amendment to the Act on Excise Duties for external comments. The amendment implements an EU directive setting common rules for excise duties within the EU.  The amendment has been proposed to enter into effect on 1 November 2022 and 13 February 2023.
  • The Ministry of Finance has published the first bill implementing DAC 7, bringing about the automatic exchange of information received from digital platform operators, proposed to be effective 1 January 2023. 
  • Detailed information on the payment of VAT using a one-stop-shop mechanism from 1 July 2021 and the Ministry of Finance’s decision to extend the existing waiver of tax on certain specified taxable supplies relating to respirators from 1 September 2021 to 31 October 2021 have been published in Financial Bulletin No. 30/2021.
  • The European Commission has informed that the EU digital levy is on hold until a final agreement on the new international taxation rules at the OECD level is reached, as the agreement will also significantly affect the digital economy sphere. 
  • The OECD has published a taxation working paper focused on how research and development (R&D) tax incentives influence effective corporate income tax rates. The paper acknowledges that R&D tax incentives are the most common tax policy instrument employed by OECD countries to encourage innovation. For more information, please see the paper here
  • The OECD has released updated transfer pricing country profiles for 20 jurisdictions out of 60. The update includes new information on the transfer pricing treatment of financial transactions and the attribution of profits to permanent establishments. Further updates are expected in 2021 and in the first half of 2022.  More information can be found in the country profile database.
  • Poland has released details of the tax reform being prepared (the ‘Polish Deal’). Proposed key changes inter alia include relaxing the conditions for establishing and operating tax capital groups; introducing a new holding company regime; a suite of innovation-targeted tax reliefs, including incentives for hiring innovative employees, prototype relief covering test production, incentives for making initial public offerings (IPO) or investing in IPOs, robotisation relief, as well as enhanced R&D incentives. Most changes should become effective as early as from 2022.
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