ASB Group attends Expo Real (Messe München) 2019, the largest real estate and investment trade fair in Europe. Expo Real gathers all important sectors of the real estate industry and provides 10 forums with 370 speakers.
Under general principles, granting a guarantee results in a guarantor assuming risk because a lender may claim its receivables from both the debtor and the guarantor. Under the corporate income tax law such risk must be valued for tax purposes and, if the guarantee is received without consideration, it constitutes income-in-kind for the recipient of the guarantee.
From September 2019, the so-called "White list" - a new electronic register of entrepreneurs - VAT taxpayers, will apply. It will include, among others, information on registration, deregistration and taxpayer status, as well as current bank account numbers related to business activity.
The Parliament recently adopted several important amendments to the VAT Act. The most important change is the new VAT rates classification that will come into force from 1 April 2020.
ASB Group assisted Trigea Real Estate Fund on the acquisition of the attractive Louvre office building in Prague 5, Czech Republic. It was built in 2008 and it offers approximately 4,600 sqm of modern rentable areas. The Louvre represents an exceptional space, especially thanks to its excellent transport connection to the Radlická metro station and timeless design. The main tenants include companies, such as the Swiss rail vehicle manufacturer Stadler, Lukoil Accounting and Finance Europe and the VZP Health Insurance Company. The transaction price has not been disclosed.
We are proud to announce that ASB Group opens its fifth office, in Toruń, Poland. Currently, the Group is present in Prague, Warsaw, Budapest, and Bratislava and employs over 250 employees, and the newly opened office in Toruń is the second one in Poland.
The Polish Ministry of Finance shows considerable activity in the field of tax explanatory publications in various areas of tax law. The explanations in the area of transfer pricing concerning the preparation of comparative analyzes and descriptions of compliance about the provisions in force until the end of 2018, have been published recently.
As we informed you at the end of last year, the tax package for 2019 markedly expanded the reporting duty in relation to income paid by Czech payers to other countries. The reporting duty in accordance with the Income Taxes Act (hereinafter the “Act”) only concerned income on which withholding tax was paid. In accordance with the amendment to the Act, payers now have the duty to report all income from sources in the territory of the Czech Republic that is paid abroad and is subject to withholding tax, even in the event that such income is exempt from tax in the Czech Republic or a double tax treaty states that it is not subject to taxation in the Czech Republic.
We are pleased to announce that ASB Poland has been accredited by ACCA once again. It means, that we were awarded ACCA Approved Employer: Trainee Development – Gold and ACCA Approved Employer – Professional Development.