Download PDF! We would like to draw your attention to the most interesting verdicts of the European Court of Justice (hereinafter also as „ECJ“) related to indirect taxes. Right to deduct VAT despite free use of capital goods In the case C-126/14, the ECJ dealt with the question whether input VAT can be
Nowadays, the term “offshore” demonstrates a negative expression mostly given to the tax dodger companies, rather than a legal term. Although basically most of these companies are operating legally secure and transparent, the tax evasion scandals in the recent years left the mark of prejudice especially on those who had been established in exotic countries.
The transfer pricing rules regulate the prices charged in the intercompany transactions. The main goal is to maintain the arm´s length principle. Pursuant to the Slovak regulation, every related parties obliged to prove the method applied for setting the prices of controlled transactions between related parties and to keep a relevant documentation about this method. In
Download PDF On 2nd of February 2016, Order 442/2015 regulating the conditions in which the transfer pricing documentation is requested and presented and procedure for adjusting/estimating of transfer prices was published in the Official Gazette. For the purpose of documenting the compliance with the arms length principle of transfer prices practiced between affiliated
Download PDF! Our previous newsletters included the rules of preparing transfer pricing documentation in general. This week we will focus on the stand-alone transfer pricing documentation. Compulsory elements of the stand-alone transfer pricing documentation The stand-alone transfer pricing documentation, only including the transactions of the companies concerned, is the most frequently used documentation
As the Hungarian tax authority had a continuously growing focus on transfer pricing issues in the last years, in our ” Transfer Pricing Guide for Hungary” we are presenting the main transfer pricing rules and the requirements of preparing transfer pricing documentation so that you can easier meet the exceptions of the legislator and the tax authority.
Download PDF In our News Flash we will cover the latest amendments that have been made regarding the VAT of invoicing continuous transactions. The VAT Act amendment Processing invoices of continuous transactions (periodically settled) will change yet again as of January 1st 2016. In order to get the most involved experts (accountants, tax advisors, bookkeepers)
Download PDF The taxpayers (except the National Bank of Ukraine), which during the reporting period carried out controlled operations required to submit information on the implementation of the controlled transactions along with filing corporate income tax return (Annex to the tax return). The taxpayers whose amount of the controlled transactions with a single counterparty is
Download PDF Principal currency restrictions are as follows: Export-import settlements shall be made in the period not exceeding 90 calendar days. Legal entities shall mandatory sale in the inter-bank market 75% foreign currency earnings received from overseas. The NBU will monitor the activity of banks related to their due diligence in control
Download PDF Starting January 1st, 2015, the electronic Road Freight Control System (Közúti Áruforgalom Ellenőrző Rendszert (EKAER)) will be introduced. As a result, any vehicle (trucks with a weight over 3.5 tons) subject to road toll, carrying goods on public roads: from EU member states to the territory of Hungary for the purpose of
Download PDF The period for performing payments under export-import transaction shall not exceed 90 calendar days. The Resolution sets requirement for mandatory sale of 75% of foreign currency proceeds (foreign currency of the 1st group of the Classifier of foreign currencies and banking metals adopted by the Resolution No.34 of the National Bank of
Download PDF Chief currency regulator of Ukraine decided to cancel two temporary restrictions on foreign exchange transactions which triggered a wave of indignation in entrepreneurship. The National Bank of Ukraine abolished certain restrictions on transactions undertaken in foreign currency during import operations without the importation of the goods into the territory of Ukraine and on
Download PDF Considering economic problems arising in connection with the anti-terrorist operation in Ukraine, as well as aiming to regulate the foreign exchange market, the National Bank of Ukraine adopted a number of resolutions imposing restrictions on foreign exchange transactions and introducing additional anti-crisis measures in implementation of some currency transactions. Restrictions for foreign
Download PDF Furthermore, please note that a new obligatory appendix to the corporate tax return on transactions between related parties is going to be implemented. This appendix shall be filled for the first time together with the tax return for 2014. Although the final form of this appendix is not known yet, it
Download PDF Banking The National Bank of Ukraine cancelled its recent ban on foreign currency lending of business. Legal entities and individual entrepreneurs are allowed to borrow funds in foreign currency as detailed in the Resolution № 557 of the National Bank of Ukraine dated 09.09.2014, amending the Resolution of the National Bank