2020 will deliver new figures and new benefits for employees, natural persons and self-employed persons. Subsistence minimum The subsistence minimum is increasing from EUR 205.07 in 2019 to EUR 210.20 in 2020. Minimum wage The government has approved an increase of EUR 60 in the minimum wage from EUR 520 to EUR 580. Together with…
Reduction in the income tax rate for selected taxpayers The amendment will reduce the income tax rate from 21% to 15% for legal entities and natural persons with income classified under §6 (1) and (2) of the income tax act and with annual income (revenues) of up to EUR 100,000. This reduced rate will be…
Sme radi, že i vďaka nám sa hendikepované deti sa mohli naučiť nové zručnosti na workšopoch ako latinoamerické zumba tance, maľovanie na tvár, ozdobovanie sádrových odliatkov, enkaustiku – maľovanie horúcim voskom na papier, pedig – prútikárstvo, streľbu z kuše a luku, razenie mincí, výrobu šperkov z kovu a doplnkov z kože.
At present, a draft amendment to the Tax Administration Act is currently in the interservice commenting procedure (Tax Procedure Code) as amended (hereinafter referred to as the “Tax Procedure Code”) and aims to introduce a number of changes; the most important ones are mentioned below: Entities involved in tax administration – for reasons of…
Does your company provide fuel cards to its subsidiaries or other companies within the same group? In this special newsletter, we would like to inform you on the Judgment of the European Court of Justice No. C-235/18 Vega International Car Transport and Logistic, in which the ECJ has ruled that the provision of fuel cards…
I. The National Council of the Slovak Republic had its first reading on 26 June 2019 for the approved a parliamentary motion to promulgate the law amending Act No. 222/2004 Coll. on Value Added Tax, as amended (“VAT act”). The draft amendment proposes reducing the VAT rate to 10% on all foodstuffs, with exceptions specified…
The draft amendment to the income tax act modifies several aspects. This newsletter covers the most significant changes including: introduction of the term micro taxpayer and related changes to the taxation of this group of taxpayers Under the draft amendment to the income tax act, the new term micro taxpayer is used to define a…
ACCOUNTING ACT The draft amendment of the accounting act set to take effect on 1 January 2020 primarily involves changes to the conditions under which audits become mandatory for ordinary and extraordinary individual financial statements. The proposal is to increase the financial limit for an accounting unit’s total assets from EUR 1,000,000 to EUR 2,000,000…
QUICK FIXES aim to unify the rules for B2B merchandising in the EU. The Czech Republic has already started the process of implementing EU legislation in relation to QUICK FIXES in the Czech VAT Act. Changes compared to the current regulation will be particularly important in the Czech Republic for handling goods in the call-off…
The Economic and Financial Affairs Council has concretised legal details of chain transactions on 4 December 2018. The new regulations have been approved through so-called “Quick Fixes”. Systematically, the new regulations will be integrated in Article 36a of Directive 2006/112/EC. The new VAT regulations do not concern constellations involving non-member countries: The new rules are…