VAT News [April 2020]
The Minister of Finance issued a decision on VAT relief for gratuitous medical supplies. The General Financial Directorate published an overview of situations qualifying for duty free treatment. The CJEU focuse…
VAT Remission on Gratuitously Provided Medical Goods
Based on the recently published decree of the minister of finance, VAT payers are exempted from duty to pay VAT on gratuitous supplies of specific medical goods, which were (or will be) provided in the course o…
Home office in quarantine in Q&A
Home office and its setting, quarantine, new requirements for employers and employees. We summarized 16 most important questions and answers that were asked during our webcast. Find out how to quickly set up ho…
The Restriction on the Export of Protective Equipment
Due to the current situation relating to the COVID-19 pandemic and an increased consumption of personal protective equipment, the European Union has decided to restrict its export. The measures apply to safety …
According to the Labour Code, Temporary Assignment of Employees Is Subject to VAT
In mid-March the Court of Justice of the EU confirmed that the temporary assignment of employees to work for reimbursement is subject to value-added tax.
COVID-19: Stabilisation package II, an overview of the existing measures for taxpayers and COVID loan programme
The Government has published additional measures for taxpayers and businesses to mitigate the impacts of the coronavirus pandemic (the so called “stabilisation and liberalisation package II”). A part of the dra…
Accounting Considerations Related to Coronavirus Disease 2019
Global responses to the coronavirus disease 2019 (COVID-19) outbreak continue to rapidly evolve. COVID-19 has already had a significant impact on global financial markets, and it may have accounting implication…
IFRS EU Endorsement Process [March 2020]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 23 January 2020.…
FASB Issues an Accounting Standards Update Relating to the Reference Rate Reform
On 12 March 2020, the US Financial Accounting Standards Board (FASB) issued Accounting standards update (ASU) no. 2020-04 “Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. Equally t…