The tax package accepted on 7th June for the next year has been recently announced. The early legislation may allow the appropriate preparation. Although most of the changes will enter into force from 1st January 2017, but certain changes will be effective already in this year, so it is necessary to prepare for them.
Apart from changes in the cafeteria system, VAT, and rules of taxation there are important changes in the advertisement tax with respect to companies that provides advertisement services on the internet (Google and Facebook tax). Furthermore, significant changes have been introduced in the excise taxes, and the small business’ tax and itemised tax of small businesses. In line with the fight against tax fraud it is worth to note the real time data provision of the invoicing programs and the EKAER changes.
In our newsletter, we summarized the most important tax law changes, but we also raise your attention to further tax related changes, namely the introduction of a new Excise Tax Act and important changes in the Act on Accounting are expected soon to introduce.