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Tax & Legal News

December 2013


Welcome to the latest issue of Deloitte Slovakia’s Tax & Legal News. This publication provides you the latest information from local and international tax and legal areas. If you have any suggestions, please don't hesitate to contact us



 
In this issue:

Indirect Taxes

  • Information of the Financial Directorate of the Slovak Republic Regarding the Amendment to the VAT Act Effective from 1 January 2014

    The adopted amendment to the VAT Act introduces a number of changes, the main aim of which is to combat fraud and VAT evasion. The main changes are related to the introduction of a VAT control statement, the extension of the range of persons obliged to provide collateral for VAT, the extension of domestic self-assessment for selected types of goods, etc.

  • VAT Transactions Statement – Published Template and Instructions for the Completion Thereof

    As part of the fight against fraud and tax evasion, the obligation of VAT payers to submit to the tax administrator a control statement in addition to a VAT return has been introduced. In this respect, the Ministry of Finance of the Slovak Republic has published a VAT transactions statementt template and instructions on the completion thereof.

  • Decisions of the Court of Justice of the European Union in the Area of VAT

     

    • C 494/12 Dixons Retail plc. – Supply of Goods for Consideration in the Event of a Fraudulent Use of a Bank Card
      Dixons Retail received consideration for the sale of goods paid through a fraudulent use of bank cards of contractual card companies. The CJ EU has decided that in the case of a physical transfer of goods to a purchaser that fraudulently uses a bank card, a supply of goods effected for consideration occurs regardless of whether or not the payment was made by a third party.
    • C-276/12 Jiří Sabou – Right to be Informed about the Submission of a Request for the Provision of Information by the Tax Administration of Another Member State
      The Czech tax administration challenged the expenditure incurred by a taxable person in several Member States, which was stated in the income tax return of a Czech taxable person, and in conducting enquiries with respect to such expenditure, it requested that the tax authorities of the Member States in question provide the relevant information. The CJ EU has decided that in the mutual assistance of the relevant authorities of the Member States, the EU legislation lays down neither an obligation to consult the taxable person with respect to such request, nor an obligation of the taxable person to take part in formulating the request in question.
  • Excise Duty Acts

    The National Council of the Slovak Republic adopted amendments to the Act on Excise Duty on Alcoholic Beverages, the Act on Excise Duty on Tobacco Products, the Act on Excise Duty on Mineral Oils, and the Act on Excise Duty on Electricity, Coal, and Natural Gas

Legal

Others

  • Transfer Pricing

    The National Council of the Slovak Republic adopted a draft amendment to Act No. 595/2003 Coll. on Income Tax changing several transfer pricing rules related to the selection of the transfer pricing method, the submission of the transfer pricing documentation, and decisions on the approval of the pricing method.

  • Amendment to the Act on Research and Development Incentives

    With effect from 1 December 2013, the amendment to the Act on Research and Development Incentives cancels the limits that set the minimum eligible expenditures incurred in connection with the supported R&D project.

  • Call to Protect the Air and Minimise the Adverse Impacts of Climate Change

    On 2 December 2013, the Ministry of Environment of the Slovak Republic announced a call for the submission of requests for non-repayable grants for projects aimed at reducing the emissions of pollutants from stationary sources of air pollution.

  • Deloitte DBriefs

    We would like to invite you to take part in Dbriefs – live webcasts (podcasts) on current tax topics. The next topics include:

    Mexico's Tax Reform Proposals: Implications for Multinationals
    18 December 2013, 15.00 pm GMT, 16.00 pm CET
    The Mexican government has put forward proposals for FY 2014 tax reform. The proposals are wide-ranging and include unilateral actions to prevent base erosion and profit shifting. With provisions that are likely to affect EMEA-based companies conducting business in Mexico, what should you consider before the tax proposals come into effect? We'll discuss

    • The changes to be enacted, including elimination of the flat tax regime and Mexican tax consolidation regime, new maquiladora regime requirements, and deductibility requirements for certain payments.
    • Implications for EMEA-based companies.
    • Addressing potential risks, effective tax rate impact and opportunities – actions EMEA-based companies can take now.

    Learn more about Mexico's latest tax reforms and how to prepare for them.

    Key Court of Justice of the European Union Decisions of 2013: Interpreting VAT in Europe
    8 January 2014, 12.00 noon GMT, 1.00 pm CET
    A number of significant VAT cases were decided by the Court of Justice of the European Union in 2013. What are the implications for your organisation’s approach to VAT? We'll discuss:

    • Credit Lyonnais – whether activities of foreign branches should be taken into account when calculating input VAT recovery.
    • The European Commission’s challenge to VAT grouping provisions.
    • The Commission’s challenge to the application of the tour operators margin scheme.
    • Gesellschaft für Börsenkommunikation, Wheels and PPG Holdings – VAT issues for investment funds.
    • Paul Newey T/A Ocean Finance – Abuse of rights.
    • Other interesting cases of 2013 and for 2014.

    Keep up-to-date on the effect of key decisions on the application of VAT law.

    A complete overview of the topics is available at http://www.deloitte.com/emea/dbriefs, where you can also register your participation.

This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, any of its member firms or any of the foregoing’s affiliates (collectively the “Deloitte Network”) are, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your finances or your business. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No entity in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication.

 

 

 

 

 

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