Blickpunkt Osteuropa

      Blickpunkt Osteuropa

        Business Breakfast unter dem Titel „Kommt Russland aus der Krise“ am Dienstag, 4. Juli 2017, PwC Berlin

        Der Osteuropaverein der deutschen Wirtschaft e.V. und die PricewaterhouseCoopers GmbH laden zum traditionellen gemeinsamen Business Breakfast ein, bei dem dieses Mal der Handelspartner und Investitionsstandort Russland im Mittelpunkt steht.

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        Agenda Business Breakfast Russland

        Latvia: Non-residents to file Latvian income tax

        The deadline for taxpayers who are required to file an income tax return is 1 June. We have already informed our subscribers about cases where Latvian tax residents are required to file an income tax return and cases where they can choose to do so voluntarily. This article explores a non-Latvian resident’s filing obligation.

        Taxable income and withholding tax

        Unlike Latvian tax residents, whose worldwide income is taxable in Latvia, non-Latvian residents are liable to pay Latvian personal income tax (PIT) on their Latvian-source income only. This means that a tax return should be filed by a non-resident who has gained any income on which PIT was not withheld at source.

        Latvia: Tighter requirements for external accountants from 1 July 2017

        In an attempt to optimise costs, CEOs in small and medium firms tend to put their accounting function out to an external service provider under a written contract defining their rights, obligations, and liability. This article explores some recent amendments to the Accounting Act and some new proposals dealing with bookkeeping procedures.

        An external accountant’s liability

        The current law holds the CEO responsible for keeping the company’s books. The CEO can agree with an external accountant on the required scope of services and define their level of liability in a contract. External accountants have so far had the option of insuring their civil liability on a voluntary basis, meaning an increase in their service fees.

        Rules on issuance of visas for entry to Ukraine and Transit through ist territory were simplified

        Recently the Cabinet of Ministers of Ukraine (the “CMU”) approved new rules on issuance of visas for entry to Ukraine and transit through its territory.*

        The new rules were officially published on 17 March 2017 and will become effective in 30 days after the publication date.

        Key novelties are the following:

        • It will be possible to submit visa application online and conduct interviews with applicants via video conference.
        • The list of countries whose citizens are eligible to obtain visas at checkpoints at the state border of Ukraine is expanded.
        • The term for visa issuance and fees for its issuance were reduced.

        Handelspartner und Investitionsstandort Bulgarien am 30. März 2017, PwC Berlin

        Business Breakfast mit dem bulgarischen Wirtschaftsminister:

        Handelspartner und Investitionsstandort Bulgarien. Herausforderungen und Erfolgsgeschichten

        Der Osteuropaverein der deutschen Wirtschaft e.V. und die PricewaterhouseCoopers GmbH laden zum traditionellen gemeinsamen Business Breakfast ein, bei dem dieses Mal der Handelspartner und Investitionsstandort Bulgarien im Mittelpunkt steht. Ehrengast ist S.E. Professor Dr. Teodor Sedlarski, Wirtschaftsminister der Republik Bulgarien.

        Nach einem Impulsvortrag von Herrn Stefan Ionkov, Leiter der Wirtschaftsabteilung der Botschaft der Republik Bulgarien in der Bundesrepublik Deutschland, berichten Unternehmen über Erfahrungen, Herausforderungen und Erfolgsgeschichten ihres Bulgarien-Geschäfts.

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        VAT scams in Poland – do you know your business partner?

        VAT non-compliance is currently a hot topic in the European Union. VAT Gap grows rapidly, and budget revenues from VAT remain unstable. Polish VAT gap was estimated and government bodies chose to take decisive steps to prevent its growth.

        There are many actions that affect VAT compliance in Poland, but the most common method of defrauding public funds remains the so called “carousel fraud” or “the missing trader fraud”. In this type of scams it is important to remember that, unfortunately, such practice may also have negative consequences for businesses that are conducted with integrity.

        Poland is fighting fraud through new law regulations

        Polish government is exacerbating the fight against the gray economy. Ministry of Finance and Ministry of Development has joined forces to prepare a new set of regulations aimed at further sealing a tax law in Poland. Ongoing legislation process is focused on requirements related to transport of sensitive goods such as fuel. Government Bodies want to introduce a new Act on registration and monitoring of road transport in Poland. The Act will specify a catalog of sensitive goods, which transport across the country will be controlled.

        Under the new rules a monitoring system consisting of a Customs Service register of transported goods and dedicated mobile communications system will be introduced.

        Serbia: Amendments to Montenegrin Corporate Income Tax Law

        In brief

        Montenegrin Parliament adopted in August 2016 amendments of the Corporate Income Tax Law which come into effect on 1 January 2017. The amendments introduced rules regarding tax deductibility of certain expenses, electronic filing of tax return, assessment and mechanism for taxation of capital gains realised by non-residents on sale of Montenegrin capital goods, revised penalties for non-complying with the provisions of this law, as well as broader definition of income realized by non-residents subject to withholding tax.

        Hungary: Changes to environmental protection product fee regulations from 1 January 2017

        Economic operators can expect several changes to tax laws from 2017, including changes to the environmental protection product fee. These changes, however, will be introduced as a standalone amendment, rather than as part of the “omnibus” amending regulations. Accordingly, on 5 December 2016, Act CXXXIX of 2016 was published in Issue No. 191/2016 of Magyar Közlöny (the official gazette of the Hungarian State), which includes the amended provisions of Act LXXXV of 2011 on the Environmental Protection Product Fee (“Product Fee Act”) effective from 1 January 2017.

        Latvia: SRS ruling on taxation of board member’s income

        In July 2016 the SRS published a ruling on how income received by someone sitting on a company’s management board is taxed under section 8(2.9) of the Personal Income Tax (PIT) Act. This article explores the approach the SRS takes in analysing the taxpayer’s issue.


        X Ltd has two officers: the chairman of the board and a board member who is also the company’s CEO. The chairman receives no remuneration for his work, but the board member is remunerated by three companies: X Ltd, U Ltd (X’s parent company), and C Ltd.