Tax legislation updates are the zeitgeist in Austria right now, according to Taylor Wessing Partner Michaela Petritz-Klar, with the energy sector, cryptocurrencies, and online platforms being at the forefront of overhaul efforts.
SPC Legal and Wint Join Forces Forming Noor
Lithuania's SPC Legal and Wint have joined forces to form a new law firm: Noor.
Important Amendments Brought to the Fiscal Code
On July 15, 2022, in the Romanian Official Gazette No. 716, Ordinance No. 16/2022 for the amendment of Law No. 227/2015 regarding the Tax Code, abolishment of certain normative acts and other fiscal-financial measures (“Ordinance 16/2022”) was published, through which multiple amendments were brought to the fiscal framework.
Romania: Important Amendments to the Romanian Fiscal Code
Government Ordinance no. 16/2022, published in Official Gazette no. 716/15.07.2022 on 15 July 2022, entails important amendments to the Romanian Fiscal Code.
Wartime Tax Relief Restricted
On 27 May 2022, Law of Ukraine “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine Regarding the Peculiarities of Tax Administration of Taxes, Fees and Unified Social Contribution During Martial Law and the State of Emergency” No. 2260-IX, dated 12 May 2022 (the “Law”), entered into force. The Law introduced several changes to the taxpayers’ rights and obligations during martial law.
Could Airlines be Fined for Increasing their Prices?
In Hungary the Government recently issued a decree introducing extra profit taxes affecting several sectors, among others the aviation sector. Pursuant to the Governmental decree, as of 1 July 2022 an extra profittax is payable by ground handling companies based on the number of passengers departing from Hungary, with the exception of transit passengers. The new special tax is HUF 3,900 (approx. EUR 10) or HUF 9,750 (approx. EUR 25) per passenger depending on the passenger's final destination.
When to File Transfer Pricing Documentation for 2021
Under the CIT Act, taxpayers are normally required to file the TPR form and a statement on the preparation of the local file for 2021, by the end of the ninth month after the end of the financial year.