From 2017, the rules of cafeteria in Hungary had been significantly changed again. All companies who would like to provide opportunity to their employees to freely choose their benefits now have to review their policies in the following months/weeks to transfer these current legal changes.
It often happens that private individuals receive gifts during representational events, or receive other benefits that are not necessarily related to specific events, occasions (and neither have to be related with purchasing). Benefits granted to private individuals have a very wide range, therefore in our current brief summary we are going to give a short overview about the most important details of these possible benefits and also about their taxation.
During the year 2016 almost all the important acts influencing the business environment in Slovakia were amended. Starting from the January 2017 the minimum wage increased and taxation on dividend paid to individuals and companies has been introduced. However, the new year also brought decrease of corporate income tax rate to 21% and introduction of interest payment in favour of a taxable person in case a VAT refund is postponed due to a tax inspection.
The latest amendment to the provisions of the VAT Act was introduced under the Amending Act on December 1st, 2016. This change sets forth new rules for quarterly VAT settlements which became effective as of January 1st, 2017.
Download our 2017 Guidelines for details about the statutory framework and local entrepreneurial environment in the Czech Republic, Hungary, Poland, Romania, Slovakia and Ukraine! We have prepared for each country: