Income tax and VAT aspects of technical improvements to leased assets
The termination of a lease of premises to which the lessee carried out technical improvement may have significant tax implications for both the lessee and the lessor. If, with the lessor…
Technical amendment to consolidation package approved by chamber of deputies
During the discussion of an amendment to the Act on Investment Companies (Print 570), the chamber of deputies approved proposals to amend the Income Tax Act and other laws amended at the…
New case law on interest on loans against taxpayers
At the beginning of 2024, the Supreme Administrative Court (SAC) issued two judgments concerning interest income and expense on loans from a corporate income tax perspective. In the first…
Proposed changes to consolidation package
The governing coalition has agreed on amendments to the bill on the consolidation of public budgets (consolidation package with planned effect from 1 January 2024). The bill has already passed its first reading in the chamber of deputies. Below, we…
New GFD information on claiming tax losses
At the end of 2021, the General Financial Directorate issued its information on the application of a special provision on claiming tax losses as an item deductible from the
Minimising sanctions: other options to reduce default interest
As a sanction associated with an additionally assessed tax, default interest can often be more severe than a penalty. Default interest waiver options, discussed in the previous issue of…
Waiver of sanctions for late filing of 2020 income tax returns
With respect to the persisting effects of the SARS-COV-2 pandemic, the Ministry of Finance has issued another liberation measure that under certain conditions waives the penalties charged to tax…
What’s new in tax for employers and employees in 2021?
The most crucial changes undoubtedly are the abolition of the super-gross wage and the solidarity tax surcharge and the introduction of progressive
Who will benefit from abolition of super-gross wage?
The government has decided to proceed with the long-promised abolition of the super-gross wage, while at the same time introducing the progression of personal income tax. The Chamber of…
Amendment to Income Tax Act for 2021 - new taxation of bonds and monetary contribution for meals
The Ministry of Finance has submitted for external comments an amendment concerning income tax. From 2021, the amendment should change the
Ministry of Finance income tax plan for 2021
2020 has just begun, but two new amendments to the Income Tax Act for 2021 are already being discussed. The ministry is planning to introduce a lump-sum
Changes to income tax after 2019 amendment
The long-awaited tax package entered into effect on 1 April. Legal entities will primarily have to cope with changes to withholding tax<…