European Union: Central Europe Tax & Legal Highlights - December 2018

Last Updated: 18 January 2018
Article by Deloitte Albania Sh.p.k


Amendments to the Personal Income Tax Regulations

The amended Personal Income Tax Regulations are in place from 1 January 2018 and provide certain tax relief measures.

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The government decree on the development tax incentive has been amended

On 13 December 2017 the amended government decree No. 165/2014. (VII. 17.) on the development tax incentive (Government Decree) was published, which includes several important modifications partly due to compliance with the EU regulations.

What are the criteria to consider when providing the employer's support for housing purposes

The new cafeteria period is commenced on 1 January 2018; therefore you are advised to consider pros and contras for the various cafeteria elements.

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Application of Double Tax Treaty between Kosovo and Croatia

The Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion signed previously between Kosovo and Croatia becomes applicable as of January 2018

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Major changes to the Law on Corporate Income Tax (hereinafter – Law on CIT) which took effect as from 1 January 2018:

Amendments to Lithuania Law on Companies will come into force on 1 January 2018 - the procedure for granting shares to employees foreseen

Amendments state the simplified procedure for granting shares to employees in order to motivate them.

Amendments to Lithuania Law on Companies will come into force on 1 July 2018 – restriction on becoming the members of supervisory and management board

On 21 November 2018 additional amendments to the Law on Companies, which will come into force on 1 July 2018 have been approved.

Amendment to Law on Competition

Draft of Law on Competition was passed to Parliament on 25 November 2017 to consider it under an urgent procedure.

Draft of Law on Advertising, which states additional requirements for signboards and outdoor advertising, has been registered

Draft of Law on Advertising registered in the Parliament on 7 December 2017. By this amendment signboard and outdoor advertising definitions are stated. Outdoor advertising will also be considered an advertisement, which presentation facilities are in the premises (in the shop windows, inner side of the windows and doors), but is visible from the outside and information in the signboard.

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Changes in PIT, CIT and lump-sum income tax. Material changes in remuneration of individuals

22 November 2017 The President of the Republic of Poland has signed the Act amending the PIT Act, CIT Act and the Act on lump-sum tax on certain income generated by natural persons. Amendments to the PIT Act regard tax-deductible expenses and include copyrights, taxation of share-based or derivative-based incentive schemes, allowance amounts and the tax deduction amount.

Amendments to CIT Act: key changes affecting capital group entities. Act signed by the President of Poland

Entities operating in capital groups should pay special attention to the Act amending the PIT Act, CIT Act and the Act on lump-sum tax on certain income generated by natural persons (henceforth: the "Act") signed by the President of the Republic of Poland on 22 November 2017. The Act implements (partly) Council Directive (EU) 2016/1164 of 12 July 2016 laying down rules against tax avoidance practices that directly affect the functioning of the internal market.

Tax Ordinance reform: new bodies

The Ministry of Development and Finance has presented draft Tax Ordinance that provides for bodies formerly absent from the Polish tax law. These bodies are to implement key assumptions underlying the work on the draft, adopted by the General Tax Law Codification Committee, which is the restoring of confidence in relations between tax authorities and taxpayers.

Sunday trade ban as of 1 March 2018

The Parliament has passed the act restricting trade on Sundays, holidays and on certain other days. The ban shall come into effect on 1 March 2018

What can render loan-related promissory notes invalid?

Providing information that allows identification of a collateralized agreement on a promissory note is a common practice. For example, it may read: Promissory Note to Loan Agreement no. 123/2017. In light of recent rulings, can the practice produce adverse legal effects for its users and result in a promissory note being considered invalid?

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National gross minimum salary, increased by the Government

Starting with January 1st 2018, the national gross minimum salary is set to rise from RON 1,450 to RON 1,900 per month, according to Government Decision no. 846/2017, published in the Official Gazette no. 950 on 29.11.2017.

Obligations to declare to the Environmental Fund - year–end checks: electrical and electronic equipment, batteries and accumulators, packaging

The economic operators placing on the market electrical and electronic equipment (EEE"), portable batteries and accumulators ("B/A") owe a new contribution of 4 Ron / kg (EEE and B/A), or 20 Ron / kg (for lighting equipment), for the difference between the quantities of EEE, B/A placed on the market and the quantities ascertained by the Environmental Fund Administration (EFA) as placed on the market (until 31 December 2017)

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Personal Data Protection Act

A new act is intended to harmonise Slovak legislation on personal data protection with the GDPR and the Police Directive.

IFRS Model Financial Statements 2017 – Early Application of IFRS 15

Deloitte's Global IFRS Office has published Appendix 2: Early Application of IFRS 15 Revenue from Contracts with Customers to the Model Consolidated Financial Statements for the year ended 31 December 2017. The appendix supplements the IFRS model financial statements with IFRS 15 disclosures and is intended to help companies that have opted for the early application of IFRS 15 in 2017.

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