Selling goods through an e-shop is a fast and popular form of trading. From the point of view of value added tax (VAT), this form does not require any special adjustment. Nevertheless, its operation has some specifics that need to be known and respected. Here are three areas that you should know about with regards…
If the provider of radio and TV broadcasting, telecommunications and electronically provided services registers oneself into the special regime of one administration spot, the so-called Mini-One-Stop-Shop (further “MOSS”), the provider avoids the lengthy liability process to register for VAT in each Member State of the establishment of its end customers. With effect from the 1st…
More and more entrepreneurs are using the possibilities of the Internet for increasing the turnover with the help of their own e-shops. If it is profitable and the goods are delivered into the other Member States of the EU, it is necessary to keep all of specifics in mind. The risk in submitting the wrong…
Brief overview of treatment As part of Action 13 to re-examine transfer pricing documentation, the Slovak Republic signed along with thirty other countries a document on automatic exchanging of information – “Country-by-country (CbC) reporting” – on 28 January 2016. CbC reporting rules apply to large multinationals with consolidated annual turnover above 750 million EUR. These…
The amendment to the Act on Income Tax effective from January 1, 2017 extends the definition of the term rent. Inter alia, the condition of payment as defined in § 17 Sec. 19 b) applies not only to the lease of movable and immovable property, but also to the payment for granting the right to…
As of January, changes to the Foreign Accounts Tax Compliance Act or FACTA, which was adopted in the United States to prevent tax evasion and fraud involving American citizens and residents using foreign bank accounts, are being prepared. FACTA has ensured the automatic exchange of information concerning financial accounts for tax purposes between the Financial…
Special notice for legal entities making advance tax payments! Please note the following if you make monthly or quarterly advance tax payments. As you surely know, the amended income tax act, inter alia, reduced the corporate tax rate by one percentage point, from 22% to 21%. In connection with advance tax payments in the period…
The government’s amendment of Act No. 563/2009 Coll. on Tax Administration (Tax Code) entering into force on 1 January 2017 was published in the Collection of Acts on 15 November 2016 under no. 298/2016. The amended act is an effort to work towards fulfilling the current Action Plan to combat tax fraud and evasion, to…
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…
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