The new law on Insurance Premium Tax, which may concern also your Company, came into effect from 1 January 2019. We would like to provide you with the most important details about this new tax.
On 31 December 2018 the Polish Ministry of Finance (MoF) published an announcement stating the “safe harbour” interest rate applicable to taxpayers in loan agreements with related parties.
By the legally binding and effective wording of the Act No. 530/2003 Coll. on Commercial register, as amended, the obligatory registration of Ultimate Beneficial Owner (hereinafter as “UBO”) of each legal entity is established.
Declaration of taxpayer liable to income tax for 2019 With the arrival of 2019, it is necessary to ensure that the form, the Declaration of the taxpayer liable to personal income tax from dependent activities is signed by employees who wish to claim tax allowances in terms of the new year. For the year 2019, the single tax rate remains at 15 %. When calculating personal income advances, the amount is increased by a solidarity tax surcharge of 7 % from income exceeding 130,796 CZK a month.
ASB Group, a Czech-based provider of accounting, tax, payroll and transaction services, could consider acquisitions in Central Europe to help it further expand, according to Managing Partner Petr Studnicka.
The fund management company REDSIDE has successfully closed the largest industrial transaction of this year in Slovakia. The prime investment opportunity drove exceptionally strong interest among a number of institutional investors and asset managers. The purchaser, REDSIDE investicni spolecnost, a.s., manages assets worth over EUR 500 mln in five funds. With this acquisition REDSIDE enters the Slovak industrial real estate market. The value of the transaction is close to EUR 90 mln. The park was developed in 2010 and currently leased to a portfolio of premium automotive and electronics tenant base.
In 2018 the Regional Court in Hradec Králové has rendered a judgment that has drawn the attention of the community of experts and may bring about a shift in perceiving the offshore structures of remunerating employees in terms of social security implications.
The Ministry of Finance has published guidelines on the VAT treatment applicable to the sale of commercial real estate (the “Guidelines”)
As usually the approaching year end is accompanied by hectic adoption of amendments to tax laws. The effective date of tax amendments planned for 1 January of the coming year will be postponed. Despite that fact, we have prepared a summary of tax news so that you have enough time prepare for the expected changes. We trust that you will find the articles included in this issue of the ASB tax news useful. Should you request any further information on the topics covered, please do not hesitate to contact us. ASB Tax Team Czech