News

Stricter conditions for VAT exemption of services directly related to the export or import of goods The General Financial Directorate has published Information on the application of VAT to services directly related to the import and export of goods exempt from VAT within the meaning of Sec. 69 of the VAT Act. The Information was issued […]

Registration of beneficial owners All legal entities entered in public registers, in particular trading companies registered in the commercial register, will have a new obligation from the beginning of next year. With effect from 1 January 2018, information regarding the beneficial owners of legal entities must be registered (“registration of beneficial owners”). Implementation of this […]

International tax news in WTS Global publications We would like to inform you of three newsletters recently published by WTS Global: International WTS Journal, Transfer Pricing Newsletter and WTS Global VAT Newsletter. Tax Control Framework The latest issue of the International WTS Journal deals with the “Tax Control Framework” (TCF) – internal VAT control procedures designed […]

WTS Alfery’s excellent ranking in the “World Transfer Pricing“ In recent years, transfer pricing has been one of the most important areas under close scrutiny by individual countries’ tax administrations, including the Czech Republic. At the same time, transfer pricing is one of the most complex areas requiring more than mere knowledge of tax provisions. […]

New obligations under General Data Protection Regulation (GDPR) Legal basis and principles of GDPR On 27 April 2016 Regulation (EU) 2016/679 of the European Parliament and of the Council, General Data Protection Regulation (the “Regulation“ or “GDPR“) was adopted. This Regulation is directly applicable in all Member States and constitutes the legal framework for personal data […]

Income tax in 2017 Although 2017 is already in full swing, we would like to sum up certain changes related to income tax effective from 1 January 2017. Many of them were, as usual, approved right at the end of 2016. 1. Personal income tax There have been several positive changes regarding personal income tax. It is to […]

BEPS or What is waiting for us As we informed you in our News no. 2/2016, the Organisation for Economic Co-operation and Development (OECD) issued the final package of reports concerning the Action Plan on Base Erosion and Profit Shifting (BEPS) in 2015. In 2016 the legislative process was underway to implement BEPS into EU legislation: please find below some […]

CbCR in the Czech Republic for the first time As we informed you in our previous news briefing, taxpayers are now obliged to submit a “Country-by-Country Report” (the “CbCR”) to the tax authorities. For your benefit, here is our basic overview of the issue. What? The answer seems obvious, yet is not. The amendment to the […]

Gift vouchers from the value added tax and electronic records of sales (EET) perspective As we informed you in our News No. 9/2017, the VAT Act provisions governing the taxation of gift vouchers were amended with effect from 1 July 2017. In July 2017 the Financial Administration issued information upon the particulars of this issue. […]

Key information concerning employment and employee taxation in Europe Do you know the income tax rate in Slovakia? How much employees and employers in Germany pay for social security insurance? The net wage difference between a single and a married employee with two children in Portugal? Which permits are required for work in Belgium? “Assignments to Europe […]