Tax and legal news

The act, which introduces completely new provisions on proving the origin of property in the Income Tax Act, awaits only the signature of the president. The act will become effective on the first day of the second calendar month after its publishing in the Collection of Laws, i.e. most likely from 1 November.

The Tax Administration published a guidance note regarding implementation of the Act on the Registration of Sales on their web pages on 31 August.

The government approved an extension of the reverse charge regime of VAT for selected telecommunications services provided among entities carrying out business in electronic communications, i.e. on the wholesale level, effective from 1 October 2016.

With respect to the amended Customs Act that was published in the Collection of Laws on 29 July 2016, some changes to VAT, which we have informed you about in the past, have become effective. The most important changes are:

The Senate has approved the governmental amendment to the legislative measure on real estate acquisition tax, and the amendment has been signed by the president. According to the explanatory report, the main aim of the amendment is to eliminate the deficiencies in the legislation effective from 2014 concerning, for example, the ambiguity or inaccuracy of the legislation or possible undesirable tax optimisation in the field.

Starting on 1 July 2016, committing tax evasion will again be a criminal offence. The criminality of tax evasion was effective up to 2009, and now after several years, the amendment to the Criminal Code will make tax evasion a criminal offence once again.