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Central Europe Tax & Legal Highlights

1 June/15 July 2016

Welcome to the Tax & Legal Highlights. This page will provide you with the latest information on tax and legal related issues from around our Central European region. For more specific information – choose your country and find out more about local tax practices and news around the region.

Country Highlights

Bulgaria
New rules on the disclosure of information of issuers on payments to government bodies in the Republic of Bulgaria, to national, regional and local bodies of an EU Member State or a third country, as well as any persons, controlled by such bodies

Increase of the term, for which an issuer must make available its annual financial statement and its consolidated annual financial statement to the public, from 5 to 10 years

Requirement that the annual financial statement contain a declaration by the auditor, who verified it

Requirement that the issuer submit public notification of their financial status.

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Czech Republic
The Tax Administration Informed about the Results of Transfer Pricing Inspection

International Initiatives against Direct Tax Avoidance as Seen by the Czech Ministry of Finance

Period for Tax Assessment in Connection with Investment Incentives in the Form of Tax Relief

Totalisation Agreement with the USA – Extension to Include Health Insurance

Public Country-by-Country reporting within the EU

Limitations to Entities/Exporters as of 1 May 2016

Be prepared for the EU data protection reform

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Hungary
New amendments to the Civil Code and the REIT Act

Supreme Court ruling on hostile takeover defence costs

New grant schemes supporting the R&D and investment projects of large enterprises

VAT treatment of services related to the processing of debit and credit card payments

Changes in the project evaluation system

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Poland
Changes in rules on payments made via bank account

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VAT on insurance policy administration services. Supreme Administrative Court’s ruling on VAT important to insurance agents

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Transfer Pricing. Amendments into the OECD Guidelines resulting from incorporation of BEPS reports

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Romania
OECD Council on May 23rd had formally approved the amendments to the Transfer Pricing Guidelines set out in the 2015 BEPS report

Memorandum on the approval of Romania’s accession as an associate to the BEPS implementation Forum, initiated by OECD

European Council Directive regarding the mandatory automatic exchange of information in the field of taxation

EU Council reached political agreement on the Anti-Tax Avoidance Directive

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Serbia
Several Ministry of Finance rulings have been published in the past period, aimed at clarifying and elaborating on the implementation of provisions of the Law on:

Value added tax

Withholding tax

Personal income tax

Excise duties

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Slovakia
Information on the Inclusion of Rent in the Tax Base

Information on the Inclusion of a Consideration (Commission) for Mediation in the Tax Base

Amendment to the Building Act

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Agnieszka Gartel

Deloitte Central Europe Tax Coordinator