VAT News [June 2020]
The legislative process concerning the amendment to the VAT Act continues. For selected types of goods, the opportunity to obtain an exemption from the duty to pay VAT is extended. The Court of Justice of the E…
IASB Amended IFRS 16 Due to the COVID-19 Pandemic
On 28 May 2020, the International Accounting Standards Board (IASB) published 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' amending the standard to provide lessees with an exemption from assessing…
3-month Exemption for Businesses to Pay Insurance Premium
The government has prepared another measure, which consists of an exemption for small and medium-sized businesses to pay part of insurance premium. The exemption means a decrease in the assessment base of the e…
In Brief from International Taxation [June 2020]
In the light of COVID-19, the European Commission has proposed the postponing of deadline for initial reporting obligation under DAC 6. The six-month delay is also expected in case of application of the VAT e-c…
Government Programmes of Economic Migration and Their Current Use
In September 2019, the government programmes of economic migration were harmonised and simplified, which resulted in three basic projects: Qualified Worker Programme, Highly Qualified Worker Programme, and Key …
The Ministry of Finance Issued Another Decision on Remission of Sanctions for Late Filing of Tax Returns and Remission of Tax
In relation to the spread of the SARS-CoV-2 virus, the Ministry of Finance has issued a new decision that partially builds on the previously issued decisions on remission of taxes and related interest and fees.…
Contractual Fines in the Context of Substantial Change of Circumstances
In their business life up to now, many companies saw contractual fines in their business contracts mostly as an unpleasant formality whose possibility of actual occurrence did not have to be considered too much…
The Supreme Administrative Court Rejected Tax Loss Chaining
The Supreme Administrative Court ruled in favour of taxpayers when it rejected the tax administration’s practice of extending the statute of limitations by so-called tax loss chaining.
Smart Quarantine: What Are the Ambiguities of the Processing of Personal Data?
How did the Office for Personal Data Protection do in 2019 and what plans does it have for 2020? How was it reorganised and on what institutions does it intend to focus on? What is a smart quarantine, how does …