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