Newsletters

In this newsletter we will cover more topics. First, several tax laws were amended at the same time when the 2023 budget was adopted. We take a look at them, highlighting the changes we consider important. On the other hand, in SME INFO 2022-01, we provided information on the Government Decree 197/2022 (4.VI) on extra profit taxes. This Government Decree has been amended on some points by Government Decree 257/2022 (VII.18). Here we also summarise the most important changes and clarifications (both in English and Hungarian).

Legislative changes affecting payroll processing that were implemented in the first half of 2022 are presented below. Included are those related to situation in Ukraine, relating to e-mobility, as well as changes to the parameters for determining the non-collectible minimum when calculating payroll deductions.

In order to make up for the budget deficit and to maintain the reduction in utility costs, the Government has imposed special taxes in several areas, which are laid down in Government Decree 197/2022 (4.VI) on Extra Profit Taxes. The changes we consider important are presented in detail, the others are only mentioned.

The fight against money laundering and terrorist financing in the European Union has recently become much more focused than in the past. Although the process laid down in EU legislation has not fundamentally changed, with the actual ownership database now in place, all accounting and registered office services firms will have a serious task if they want to avoid fines. Below is an overview of the risks associated with the new changes.

We shortly summarize changes of Czech legislation relating to payroll. It is summarizing some regular annual updates of certain thresholds as well as some expected changes from recently passed legislation.

The result of the socio-economic programme “Polish Deal” announced by the Polish government this year is the introduction of amendments to the Corporate Income Tax Act, the Personal Income Tax Act, the VAT Act and some other laws, most of which will enter into force from 2022. Some of these changes will enter into force at a later date, but no later than from 2023. In the attached newsletter, we will mainly outline the changes to the CIT and VAT legislation and the related changes to the Entrepreneurs’ Law, which may have significant financial consequences for companies and entrepreneurs who are subject to these forms of taxation.