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Legislative changes affecting corporate taxes and VAT in Czechia in 2024

11-01-2024 Payroll Czech Republic

SME INFO CZ Nr.2024-1 – From January 2024, amendments to the VAT and Income Tax Acts will come into force. The changes are part of government’s consolidation package, and concern, in addition to tax rates, the tax deductibility of certain expenses.

Legislative changes impacting payroll in Czechia in 2024 - II

30-12-2023 Payroll Czech Republic

SME INFO CZ Nr.2023-04-2 – We supplement previously published information on legislative changes with impact on payroll from January 2024 especially in areas of minimum salary, social insurance and meal vouchers.

Act on the Global Minimum Tax

29-12-2023 Tax Hungary

SME INFO Nr.2023-8 Hungary – With the announcement of the Global Minimum Tax Act on 30 November 2023, the EU GloBE Directive 2022/2523 has been introduced into the Hungarian law system, with an entry into force date of 31 December 2023. In this newsletter we provide a framework for the Hungarian legislation, highlight the most important deadlines, present the operating mechanism

Termination of convention for avoidance of double taxation between USA and Hungary

28-12-2023 Tax Hungary

SME INFO Nr.2023-7 Hungary –  In this newsletter we summarise the tax consequences of the termination of the Convention between the Government of Hungary and USA for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, and present the tax measures introduced by the Hungarian government.

Payroll-related Changes of 'Autumn Tax Package 2023' in Hungary

20-12-2023 Payroll Hungary

SME INFO Nr.2023-6 Hungary  – This booklet covers the „classic” payroll-related changes of ‘The Autumn Tax Package 2023’. The most important ones are the quarterly deadline of tax assessment for “benefits in kind”, special tax relief for acquisition of shares in start-up companies,  increase in the minimum wage and the guaranteed minimum wage effective from December 1, and the introduction of a new employment certificate.

Accounting law changes adopted in Hungary in autumn 2023

14-12-2023 Accounting Hungary

SME INFO Nr.2023-5 Hungary  – The 2024 changes to the Act on Accounting in Hungary contain substantive provisions for the incorporation of the global minimum tax into the domestic legal system, as well as the deposit return system (DRS) to be introduced from 2024. As an important change, the conceptual definitions and accounting calculations related to the deferred tax known from international accounting appear, and the accounting steps of the actors of the deposit return system are defined in connection with certain parts of the process.