As of 1 July 2018, the obligatory electronic communication with the Financial Administration has been extended to include all physical persons – entrepreneurs. The obligation to communicate electronically as of 1 July 2018 will only apply to the physical persons who are the entrepreneurs registered for income tax pursuant to Art. 49a of Act no.…
On 3 July 2018, the OECD issued a proposal to amend the OECD guideline on financial transactions. The provisions in question are anticipated to shed more light on the means of pricing, e.g., intragroup loans, guarantees, and cash pooling. Special attention is paid to the real content of a transaction and the issue of concealed…
Presently, it is obligatory that a company which is not registered in the Register of Public Sector Partners (RPSP) identifies its advantage end user (hereafter only as AEU). Having amended Act no. 297/2008 Coll. on the Prevention of Legalization of Proceeds of Criminal Activity and Terrorist Financing, as amended, (hereafter only as the “AML Act”)…
The Ministry of Finance of the Slovak Republic put forward a proposal for a due provisional opinion on the draft guideline by the Council that determines the rules for taxation on the income of the legal persons with significant digital presence. The aim of the draft guideline is to ensure just and effective taxation on…
The previous French wealth tax, which had to be paid by individuals who owned assets of over 1.3 million EUR, and which consequently lead to the migration of wealthy owners, has been limited from the 1st January of 2018 to private immovable property. The new wealth tax (“impôt sur la fortune immobilière”, “IFI”) takes over…
For the purposes of the Income Tax Act, the technical appreciation of tangible assets and intangible assets means expenditure on completed superstructures, additional structures and construction adjustments, reconstruction and upgrades, increasing the value of 1 700 EUR in total for individual tangible and intangible assets for a tax period. Since 1st January of 2015, the…
Investments into real estate belongs to one of the investments with a stable and secure income. Investment can be made by a legal entity or an individual, each investment has its own specifics. From an investor’s point of view, it is good to evaluate the investment´s impacts from the real estate in the Czech Republic…
In case of direct investment in real estate assets in Austria, consider the following tax regulations: Real Estate Transfer Tax, Land Register Fee: When purchasing a property, a real estate transfer tax of 3.5 % and a land register fee of 1.1 % has to be paid. Determination base is the purchase price. Income Tax:…
Property investments are currently booming with both institutional investors and private investors. The market is benefiting from the current low interest rate phase and the good economic development in Germany. Office and residential real estate in the big cities are especially popular. While the residential property market is dominated by German investors, nearly half of…
The National Council of the Slovak Republic approved Act No. 63/2018 Coll. as an amendment of Act No. 311/2001 Coll., the Labour Code, as amended, on 14 February 2018. This amendment of the Labour Code, which enters into force on 1 May 2018, results in several changes concerning employment. The most significant change beginning 1…