Hungary: Buyer’s tax number must now be shown on invoices when VAT over specified limit Jan 11

An important change in Hungary’s invoicing regulations took effect from the beginning of 2017. Until now, only seller’s tax number had to be shown on invoices. Now, buyer’s tax number has to also be presented if the VAT of the invoice is 100 000 HUFs or more.
Read more ›

Changes in Russian regulations in 2017 Jan 04

There are a number of changes to the tax regulations in Russia coming into effect this year. The three key changes are as follows. Read more ›

Lithuania introduces a new procedure of payments to the guarantee fund Dec 28

From January 1, 2017 there will be changes in the the procedure of payments and administration of the guarantee fund.

Read more ›

Taxation of commercial property deposits in Estonia Dec 21

It has become a practice in Estonia for lessors to require deposit from lessees when renting out their commercial or residential premises. Deposit offers lessors security against malicious lessees and is supposed to discipline both parties of the transaction. But the topic of tax payments on deposits is often confusing and the tax authorities don’t always give uniform answers to these questions. There are largely two approaches – one more strict and the other a bit lenient.
Read more ›

Hungary aiming to have one of the lowest Corporate Tax in EU from 2017 Dec 14

Hungary is aiming to improve the country’s competitiveness by lowering its corporate tax from multiple tax rates (10% and 19%) to a general rate of 9%.
Read more ›

Latvian tax amendments to go into force in 2017 Dec 07

Latvia has reviewed and made amendments to several tax related areas, such as Personal Income Tax Law, tax exemptions, allowances and minimum wage. The changes are due to take effect on 1 January 2017.

Read more ›

Lithuania changes the law regulating business trips of employees Nov 30

The Law on Guarantees for Posted Workers has been reviewed and new provisions will take effect in 1 January 2017. Based on the updated law, the Lithuanian companies posting their employees to business trips lasting longer than 30 days or for construction works in the European Union (EU) or the European Economic Area (EEA), have to inform the relevant territorial authorities of the country where the worker is posted. The Lithuanian Labour Exchange (LLE) that formerly had to be informed about all business trips, will now be informed only about the employees posted to Lithuania.

Read more ›

Polish economy slowed down in the third quarter of 2016 Nov 23

According to the Central Statistical Office of Poland, the country’s growth dropped to the lowest level since 2013.
Read more ›