The first loan declaration need to be submitted on April 20th in 2018 Apr 20

Starting with 2018, the Income Tax Act has changed.

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The absence of a fringe benefit does not automatically give rise to the right to subtract input VAT Feb 15

The amendment to the Income Tax Act (ITA) that entered into force as of 1 July 2017, pursuant to which the employer’s business-related expenses made for transporting an employee who works on the basis of an employment contract between their place of residence and workplace will not be deemed to be a fringe benefit if the employee’s place of residence is located at least 50 km from the workplace or if the employer organises transport with a vehicle that has at least eight seats or a bus for the purposes of the Traffic Act.

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Taxation of private use of company cars set to change Dec 13

The procedure for the taxation of the private use of company cars will change on 1 January 2018. The requirement of keeping travel logs will be abolished.

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Fitness benefit becomes tax exempt in 2018 Dec 05

An amendment has been made to the Income Tax Act, which allows employers to compensate employees for health promotion expenses without income and social tax for 100 euros per quarter from early 2018.

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What should entrepreneurs do to prepare for calculating basic exemption in 2018? Nov 28

In 2017, the basic exemption for a natural person is 180 euros per month (2160 euros per year).

Starting from 1 January 2018, the basic exemption for a natural person earning up to 1200 euros per month (14,400 euros per year) will be 500 euros per month (6000 euros per year). This is a significant change that requires more attention.

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Reverse charge on metal products Nov 17

In future, only one invoice can be issued for the reverse charge

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Compensation of Sports Expenses from 2018 Oct 27

Starting from January 2018, employers may compensate expenses incurred in improving employees’ health tax-free to the extent of 100 euros per quarter. These expenses include costs related to the use of sports venues, the maintenance of sports facilities, rehabilitation services and participation fees for public sports events. Under the current Income Tax Act, most expenses incurred in improving employees' health are deemed to be fringe benefits, which are subject to income tax and social tax.

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Business account for natural persons Oct 12

The Simplified Taxation of Business Income Act is a new act that will enter into force on 1 January 2018.

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