Summary 193 posts
Law Decree 16/2012 has modified Art. 164 of the Italian income and corporation tax act (TUIR) which governs the deductibility of the cost relating to private and commercial vehicles. The mentioned law change reduced the percentage of the deductibility of costs related to private cars assigned and not assigned to employees. Relevant cases:
Read moreGuideline 3004/2013 already available (only in Hungarian language) on the website of the Hungarian Tax and Customs Authority (NAV) includes the criteria to be inspected, the audit aspects and the sanctions to be applied on a standard basis during the tax audits of enterprises having only VAT registrations in Hungary.
Read moreThe most important changes are described below:
Read moreThere are many formal requirements applicable to such agreements in German company law. Until now a significant risk existed that if all the profit (or loss) was not transferred to the parent entity, e.g. due to errors in the annual accounts of the subsidiary, the tax authorities regarded the agreement as not executed.
Read moreThe courts found in the Felixstowe Dock and FCE Bank cases that denying the group relief between two UK resident companies was not in line with the Tax Treaty non-discrimination provision where the UK companies were held through a non-UK parent. Both cases concerned group relief between UK companies – cross border group relief was not claimed.
Read moreThere is no compulsory legal regulation regarding the language of the transfer pricing documentation, which means that it can be prepared in any language.
Read moreIt is not forbidden to take your savings with you when travelling, however, if you leave (or enter) the territory of the EU carrying cash or cash equivalents (securities, bonds, shares etc.) worth more than EUR 10 000, you are required to file a written declaration with the Customs Authority.
Read moreAs the action for failure to fulfil obligations filed against Hungary in relation to the special taxes imposed on the telecommunication and retail sectors enters into its second phase, a suspicion arises that, in time, a similar future may await the recently accepted amendments concerning insurance tax and local business tax.
Read moreFrom 1st December 2012, significant changes to the UK VAT registration requirements for non-established businesses doing business in the UK come into effect. These changes may result in your clients now having to be UK VAT registered. Penalties could apply for non-compliance.
Read moreIn an everyday sense, e-commerce is an umbrella term: if any of ordering, payment, product delivery or the use of services takes place online, we are talking about e-commerce. From a tax perspective, however, it is important to what extent the transactions contain web-based solutions. Distant sales should be differentiated from other activities commonly referred to as e-commerce in respect of invoicing and the VAT treatment of the transactions.
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