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…
From the beginning of this year, restriction will apply to all legal persons registered in the Business Register submitting any structured documentation to the Financial Administration. As of 1 January 2018, every legal person is responsible to communicate with the Tax Authority only by electronic means, regardless of the fact whether it is or not…
The amendment provides measures targeted against speculative mergers of companies. Section 69 is supplemented to include paragraphs 11 – 15 that specify the given issue in detail. Section 11 defines that, as of the day of merger, amalgamation or division of a company, the value of the liabilities of the successor company may not exceed…
Based on the Plan of legislative tasks of the Slovak Government for 2018, the Ministry of Finance submitted for comments a draft bill relating to insurance tax. The aim of the proposal is to introduce insurance tax for insurance within non-life insurance as well as life insurance. The proposed amendment will alter the existing contribution…
On 22 November 2018, Measure of the Ministry of Finance of the Slovak Republic MF/16021/2017-721 was adopted, which sets forth the templates of income tax returns as amended. According to this new measure, the templates of type B tax returns for natural persons and for legal persons for 2017 are changed. The new templates of…
Starting from 1 January 2018, an amendment to the Tax Administration Act (hereinafter only the “Tax Procedure Code”) was amended and the amendment has caused several legislative changes. Tax Secrecy The Tax Procedure Code doesn’t provide an accurate definition of who may be provided with information of tax secrecy nature. State authorities, self-governing authorities and…
Starting from 1 January 2018, several changes became effective also within the Act on Value added Tax. This newsletter provides a summary of the most important changes. Tax representative of a foreign person The introduction of special tax representative of a foreign person applies to the cases where a foreign person acquires, in the Slovak…
On 7 December 2017, the National Council of the Slovak Republic adopted Act No. 344/2017 amending and supplementing Act No. 595/2003 on income tax as amended (hereinafter only the “Act”) and amending and supplementing Act No. 563/2009 on tax administration (Tax Procedure Code) and on amendment and supplementation to certain acts as amended. The amendment…