We would like to draw your attention to the reporting obligation of taxpayers towards tax administrators by 15 January 2017 in relation to the change in author’s income taxation in 2016. As of 1 January 2016, author’s income based on the Copyright Act resulting from the creation of a work and artistic performance under Paragraph…
On 1 December 2016, minimal value of meal vouchers increases from EUR 3.15 to EUR 3.38. New maximum value of meal vouchers is EUR 4.50. Employee is entitled to get a meal voucher for each working day on which they worked for more than 4 hours. Act on Travel Allowance effective since 1 December 2016…
On 7 December 2016, amendment of Act No. 305/2013 Coll. on e-government was adopted, postponing compulsory activation of electronic mailboxes of legal persons registered in the Commercial Registry to 1 July 2017. Members of the National Council of the Slovak Republic made this decision in accelerated legislative procedure. Business entities which have not activated their…
The aim of the Act is to establish into self-regulating competence a financial tool that will be created by each municipality on a voluntary basis by a generally binding regulation, which shall have an acceptance role, development role and anti-corruption role. Act 447/2015 Coll. on local development fee and on changes and amendments to certain…
The amendment of Act on Health Insurance of 30 November 2016, amending Act No. 580/2004 Coll. on health insurance, repeals maximum assessment bases for the calculation of health insurance contributions as of 1 January 2017. This means that in annual clearance and in calculation of prepayments, employees, employers and self-employed persons shall pay health insurance…
This special newsletter is to provide you with the information about the updated changes in the Act on Value Added Tax, effective from 2017. 2. Changes to the Act on Value Added Tax: 2.1 Tax Deduction by Foreign Taxpayers A taxpayer, that is registered as a foreign taxable person following section 5 and complies with…
This special newsletter is to provide you with the information about the updated changes in the Act on Income Tax, effective from 2017. 1. Changes to the Act on Income Tax: 1.1 Profit shares, dividends Adopted amendment to the Act on Income Tax A meeting of the National Council of the Slovak Republic was held…
Base erosion is a very important issue on the political agenda of many countries both inside and outside of the EU and it has been addressed at G20 and G8 summits. The G20 and the OECD have prepared a BEPS Action Plan aimed at combating base erosion and profit shifting by multinationals to countries with…
On December 22, 2015, the Italian Parliament approved the 2016 Finance Act, which includes provisions introducing country-by-country (CbC) reporting for Italian parented multinational enterprises (MNEs) in line with Action 13 of the OECD’s Base Erosion and Profit Shifting project. An Italian MNE that is required by law to prepare consolidated financial statements, that has consolidated…
The Ministry of Finance has published a document on the 22nd of April 2016, as a reaction to the European directive ATAD to open the discussion about the implementation of the BEPS action plan into Czech legislation. Some of the action plans are mentioned below, which either have been implemented or are still waiting for…