1) The document outlines several amendments to Romania's Tax Code and Fiscal Procedure Code, effective between September 2011 and January 2012.
2) Key changes include new requirements for individuals and companies to register service contracts with non-residents, as well as restrictions on deducting expenses related to inactive taxpayers.
3) Deadlines for various tax declarations were also changed, such as moving the corporate income tax declaration deadline to March 25 and allowing quarterly advance payments for corporate income tax starting in 2013.
Serbia: Tax Alert - Amendments of Serbian Tax Laws (Dec 2017)Alex Baulf
On 14 December 2017, the Serbian Parliament adopted amendments to the VAT Law, which were published in the Official Gazette of the Republic of Serbia No.113/2017.
The adopted amendments will go into force on January 1 2018, with exception of certain provisions for which it is particularly emphasized.
On 14 December 2017, the Serbian Parliament adopted amendments to the Corporate Income Tax Law, which were published in the Official Gazette of the Republic of Serbia No.113/2017.
The adopted amendments will go into force on January 1 2018, with exception of provisions regulating withholding taxation. The majority of provisions shall be applied starting from the filing of tax return for 2018.
Please see a high level overview of these changes in the Tax Alert from Grant Thornton Serbia.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
SPT Dollar dan Rupiah beserta LampirannyaRoko Subagya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
Serbia: Tax Alert - Amendments of Serbian Tax Laws (Dec 2017)Alex Baulf
On 14 December 2017, the Serbian Parliament adopted amendments to the VAT Law, which were published in the Official Gazette of the Republic of Serbia No.113/2017.
The adopted amendments will go into force on January 1 2018, with exception of certain provisions for which it is particularly emphasized.
On 14 December 2017, the Serbian Parliament adopted amendments to the Corporate Income Tax Law, which were published in the Official Gazette of the Republic of Serbia No.113/2017.
The adopted amendments will go into force on January 1 2018, with exception of provisions regulating withholding taxation. The majority of provisions shall be applied starting from the filing of tax return for 2018.
Please see a high level overview of these changes in the Tax Alert from Grant Thornton Serbia.
ALBANIA Chinese citizens excluded from Type C Visa regime
Fiscal package 2020 in Albania
Tax Procedures in Albania 2020
Value Added Tax 2020
Albania Personal And Profit Tax 2020
Albania National Taxes 2020
ALBANIA TAX FREE Real Estate Donation to Family Members 2020
SPT Dollar dan Rupiah beserta LampirannyaRoko Subagya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
SPT Dollar dan Rupiah beserta Lampirannya
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
Slovakia: Grant Thornton Tax Newsletter December 2015Alex Baulf
Tax Newsletter including:
1. Summary of the most important changes in tax laws valid from 1 January 2016
1
2. Tax return as at 31.12.2015 – changes against the year 2014
3. Tax penalties from 1 January 2016
4. Changes in the Slovak VATAct from 1 January 2016
5. Whistleblowing
Executive Regulations of UAE FTP - VAT in UAEManoj Agarwal
The UAE has released Executive Regulations of Federal Law No 7 of 2017 on Tax Procedures (FTP).
The Executive Regulations provides the outline on rights and obligations of the Authority, Taxpayer and any other Person dealing with the Authority for Value Added Tax (VAT) in the UAE and Excise Taxes along with any future taxes to be introduced in the UAE.
VAT in UAE, Tax in UAE
Do not forget about the key financial dates and deadlines in 2018 in Poland. Download our 2018 Tax Calendar for Poland and keep an eye on the main statutory filing obligations in order to avoid any penalties!
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
The United Arab Emirates (UAE) has released the text of Federal Tax procedures Law (FTP). The FTP Law provides the outline on rights and obligations of the Authority, Taxpayer and any other Person dealing with the Authority for Value Added Tax (VAT) and Excise Taxes. Also any future taxes introduced in the UAE.
This write up consist of unofficial translation of the Federal Tax procedures Law (FTP)/ UAE VAT Law with views and suitable modifications, wherever appropriate, by the author.
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
Slovakia: Grant Thornton Tax Newsletter December 2015Alex Baulf
Tax Newsletter including:
1. Summary of the most important changes in tax laws valid from 1 January 2016
1
2. Tax return as at 31.12.2015 – changes against the year 2014
3. Tax penalties from 1 January 2016
4. Changes in the Slovak VATAct from 1 January 2016
5. Whistleblowing
Executive Regulations of UAE FTP - VAT in UAEManoj Agarwal
The UAE has released Executive Regulations of Federal Law No 7 of 2017 on Tax Procedures (FTP).
The Executive Regulations provides the outline on rights and obligations of the Authority, Taxpayer and any other Person dealing with the Authority for Value Added Tax (VAT) in the UAE and Excise Taxes along with any future taxes to be introduced in the UAE.
VAT in UAE, Tax in UAE
Do not forget about the key financial dates and deadlines in 2018 in Poland. Download our 2018 Tax Calendar for Poland and keep an eye on the main statutory filing obligations in order to avoid any penalties!
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
The United Arab Emirates (UAE) has released the text of Federal Tax procedures Law (FTP). The FTP Law provides the outline on rights and obligations of the Authority, Taxpayer and any other Person dealing with the Authority for Value Added Tax (VAT) and Excise Taxes. Also any future taxes introduced in the UAE.
This write up consist of unofficial translation of the Federal Tax procedures Law (FTP)/ UAE VAT Law with views and suitable modifications, wherever appropriate, by the author.
L'integrazione dei sistemi AVC (audio-video-controlli)Piero Camillo
Le nuove tecnologie entrano prepotentemente negli edifici (sia pubblici che privati) - e in molti casi anche in spazi aperti – e sono al servizio di coloro che occupano questi spazi fornendo loro informazioni, sicurezza, comfort, sostenibilità, intrattenimento.
Tra queste tecnologie quelle più appariscenti sono l’Audio e il Video. Quelle più “invisibili” sono i sistemi di controllo, un vero e proprio “cervello” che fa coesistere i segnali audio e video, li distribuisce in modo opportuno negli spazi, gestisce l’illuminazione, la climatizzazione e tutte le parti motorizzate, il tutto in modo automatico e/o seguendo le istruzioni impartite dall’utente attraverso un touch panel, un PC, oppure, sempre più di frequente, uno smartphone o un tablet.
On 2 December 2016 the Law Decree 22 October 2016 n. 193 (“Tax decree”) completed its legislative process with the publication in the Official Gazette of the consolidated text, post amendments, occurred at the time of the conversion into Law. Some of the adopted measures are a way to implement the new strategy of the Tax Administration to prevent tax evasion and to reduce the VAT gap. Most of the measures have the aim to modernize the way in which taxable persons accomplish VAT fulfillments, so that these latter can be more effective, leveraging on an intense use of electronic means. Grant Thornton Italy summarize in this VAT Alert, the main changes on VAT rules deriving from the final text of the new provisions.
Circular Letter n. 1/2014
Deadlines timesheet 2014
Milan, 08/01/2014
We are sending you the deadline timesheet for the tax fulfilments for 2014. The deadlines indicated in the chart below mainly refer to those taxpayers whose fiscal year is coincident with the solar year.
We will take care of pointing out possible modifications of these deadlines due to amending measures that might be approved on a future date.
Through the Fiscal Bulletin sent on September 4, 2017, we announced the introduction of the VAT split payment mechanism by Government Ordinance No. 23/2017. After the Ordinance passed the Parliament approval through a law and the Approval Law was published in the Official Gazette, the VAT split payment mechanism has undergone major changes – in a positive way for most taxpayers.
Summary of the main changes to the Norms to the Fiscal Code in RomaniaAccace
Government Decision no. 1/2016 for the approval of the methodological norms for the application of the new Tax Code has been published in the Official Gazette no. 22 on 13 January 2016. As a general note, the newly published Norms bring more examples and details in order to clarify the provisions of the Fiscal Code applicable starting 1 January. We have summarized below the main amendments and clarifications introduced by the Norms, organized as the titles of the Fiscal Code.
Grant Thornton Hungary Tax News - November 2014 en (2)Alex Baulf
Tax Service News from Grant Thornton Hungary:
Grant Thornton Hungary would like to call your attention to the most important tax law changes. Most of the changes will enter into force by 1 January 2015. We indicate separately, if legislation enters into force at a different date.
The information provided herein is of general nature and is based on facts subject to change. Such information may not be regarded and therefore in no way interpreted as accountancy, legal or taxation advice provided to the reader by Grant Thornton Hungary. These materials are not aimed at complying with particular scenarios and to be suitable for application in certain situations, therefore the consideration of certain taxation law and other factors not
discussed herein may be necessary. With regard to this – should you resolve upon any action whatsoever based on the information provided herein – it is recommended to establish contact with Grant Thornton Hungary or other taxation specialists. Amendments of the taxation laws and other factors may influence the contents communicated herein – in certain cases even with retroactive effect. Grant Thornton Hungary assumes no responsibility of informing the readers of these changes.
Legislative measures with significant impact in certain industry sectors introduced by the Government Emergency Ordinance No. 114/ 2018 implementing measures in the field of public investments and fiscal-budgetary measures, amending and supplementing normative acts and extending certain deadlines.
Welcome to our guide for Taxation in Vietnam. In this guide, we hope to provide you with an overview of the key aspects of Taxation in Vietnam and answer many of the questions that foreign businesses and entrepreneurs have when making their first venture into the Vietnamese market.
ITR Filing Last Date 2023-24(24-25).pdfWEB ONLINE CA
Important information regarding the last date for filing income tax returns for the financial year 2022-23, which is the assessment year 2023-24. It also includes the latest updates on the deadline for ITR 7, Form 10B, and Form 10BB, which has been rescheduled from September 30, 2023, to October 31, 2023. The pdf explains the difference between the fiscal year and assessable year and provides details on the due dates for individuals, businesses requiring audit, and businesses requiring transfer pricing reports. Additionally, it outlines the penalties and interest charges for missing the ITR filing deadline and offers solutions for those who miss the deadline. This information is essential for taxpayers to ensure compliance with the tax laws and avoid any unnecessary charges or penalties.
-WEB ONLINE CA
The Romanian government has recently published the Government Ordinance no. 23/30.08.2017 (“GO 23/2017”) for introducing VAT split payment mechanism, as an anti-fraud measure. The implementation of the new VAT split payment mechanism will have a significant impact on the companies being VAT registered in Romania, such as increased administrative burden and cash flow impact, additional costs generated by changes in accounting information systems, additional bank charges and fees.
The purpose of this alert is to highlight the new requirements arising from the implementation of VAT split payment mechanism.
What are the new VAT administrative penaltiesAhmedTalaat127
The Federal Tax Authority (FTA) shared a public clarification on 28th April 2021 about the amendments for provisions under the Cabinet Decision No 40 of 2017 for administrative penalties. VAT penalties include administrative penalties, which mean the monetary fines imposed on a person or an entity by the FTA for breaching the provisions in the Tax Law of UAE. Penalties can easily be avoided by taking the necessary precautions for non-compliance while filing the VAT report. Businesses have more time to review their data and submit an accurate VAT filing and can benefit from up to 70% waiver for their unpaid penalties if they meet the criteria.
1. Amendments to the Tax Code
and Fiscal Procedure Code
29th September 2011
Prepared by
Teodora Cicu
Iulia Lascau
2. Registering at the tax authorities the
services contracts with non-residents
Individuals and permanent establishments in
Romania of foreign legal entities are obliged to
register at the tax authorities the commercial
contracts for rendering of services concluded with
non-residents (foreign legal entities and non-resident
individuals);
Before changes, only the resident legal entities were
obliged for registration of service contracts;
Entered into force on January 1, 2012
3. Transactions concluded with
inactive taxpayers
Expenses related to the transactions concluded with
an inactive taxpayer and the VAT related to such
transactions will be considered as disallowed (non-
deductible) expenses for the corporate income tax
purposes;
This requires periodic review of the status for existing
and potential partners before signing a contract or
billing for services or goods.
Verification can be done in the “Register of Inactive
Taxpayers”, which is published on-line by the Ministry
of Finance.
4. The declaration and reactivation of
inactive taxpayers
Corporate taxpayers or other entities without legal
personality are declared inactive if they comply with one
of the following conditions:
a) On the course of a semester they do not fulfill any of their
legal declarative obligations;
b) Evade the tax inspection by declaring identity tax domicile
data that do not allow identification from the fiscal body;
c) Tax authorities found that the declared fiscal domicile is not
the taxpayer’s place of operation, according to procedure
established by Order of the National Agency for Fiscal
Administration.
5. Recognition of new deductible
expenses for the calculation of
corporate income tax
Expenses recorded in relation to valuation of fixed
assets received in concession / management
belonging to the public domain of the state or local
administrative authorities;
Expenditure on land registration or real estate
advertising of the assets in state ownership received
under management or concession;
Entered into force on September 5, 2011.
6. The taxation of an association
with legal personality established
according to the legislation of
another state
Foreign legal entities and non-resident individuals within
an association with legal personality, established
according to the laws of another state owe profit tax in
Romania, for the activities carried out in Romania;
A Romanian legal entity participating in an association
with legal personality established under the laws of
another state is taxed in Romania according to the
participation rate;
Enters into force on January 1, 2012.
7. Withholding tax for revenues
obtained by non-residents in
Romania
The declaration and payment of the withholding tax for
revenues obtained in Romania by non-residents from:
– properties or
– sale/cession of equity
can be made only through empowered persons
Comes into force on September 5, 2011.
8. Option for payments in advance
for the corporate income tax
The taxpayers, other than the financial institutions, may
choose (starting from January 1 2013) to make payments
in advance for the corporate income tax due, based on
the quarter of the tax owed in the previous period,
adjusted with the inflation index.
The option is available until January 31 of the year in
which the advance payments apply and is mandatory for
at least 2 years.
Starting from January 1, 2012, the deadline for submitting
the annual corporate income tax forms becomes March 25
of the year following the reporting period, instead of April
25.
9. Taxes on incomes obtained in
Romania by non-residents (1)
The individuals that fulfill the residency conditions for 3
consecutive years before December 31, 2011 are
obliged to pay income tax (from any source in Romania or
outside Romania) starting from January 1 2012;
Non-resident individuals not domiciled in Romania, have
the option to be taxed on the revenues obtained from any
sources in Romania or outside of Romania, starting with
January 1 of the year following the year in which they
became residents of Romania, based on the Tax Code
and the double tax treaties
Comes into force from January 1 2012.
10. Taxes on incomes obtained in
Romania by non-residents (2)
• Exemption applies to those individuals providing that they
are the resident of a country with which Romania has
concluded double tax treaty agreement.
• Individuals that are resident of other countries with which
Romania has concluded a double tax treaty agreement
must prove its residency through a tax residency
certificate issued by the competent tax authority of that
state or by another document issued by an authority other
than the tax authority which is responsible for tax
residency certificate.
• This certificate / document is valid for the year / years for
which issued.
11. Taxes on incomes obtained in
Romania by non-residents (3)
• Romanian resident individuals, who prove the change of
residence within a state that Romania has not concluded
double tax treaty agreement on avoidance of double
taxation, are still obliged to pay taxes in Romania on their
world wide income for the calendar year in which the
change of residency took place as well as the next 3
calendar years following the residency change.
12. Changing the deadline for payment of
the salary income tax and quarterly
filling of the tax forms D112
Conditions for the application of the above provision:
The companies must have had in the previous year an
average number of up to 3 employees exclusively, and
record a total annual income of under 100.000 euro;
Micro-enterprises with an average number of
employees of up to 3 exclusively;
Authorized individuals and individual enterprises;
Liberal professions and associations without legal
personality between individuals who have staff based
on individual labour contract.
The above provisions will come into force starting from
October 2011.
13. New deadlines regarding declarative
obligations for a series of taxpayers
Declaratia venitului net realizat pentru contribuabilii care obtin venituri
Declaration
din activitati independente (D200) va avea ca termen de New deadline
Obligation Old deadline depunere 25
mai inclusiv a anului urmator celui de realizare a venitului (fata de 15
mai anteriorStatement of net revenue of
modificarii); May 15 of the year May 25 of the year
D200 taxpayers obtained from following the reporting following the
independent activities period reporting period
Declaratia privind veniturile obtinute din strainatate (D201) va fi
depusa de contribuabilii care obtin astfel de venituri pana la 25 mai
inclusiv a Statement urmator celui de realizare15 of the year (fata deof themai
anului of all revenues obtained May a venitului May 25 15 year
D201 in foreign countries by residents
anterior modificarii); following the reporting following the
taxpayers period reporting period
Declaratia depusa de platitorii de venituri cu regim de retinere la sursa
Last day of
Statement of taxes retainedfiscale) va avea ca year
a impozitelor (D205 & Fisele under June 30 of the termen de depunere
February of the
D205 withholding regime for incomes following the reporting
ultima zi a lunii februarie inclusiv a anului curent pentru anul expirat
year following the
obtained by residents year
(fata de 30 iunie anterior modificarii). reporting year
14. Supplies of services determined by
successive settlements or payments
Supplies of services determined by successive
settlements or payments (building-assembling,
consulting, etc.) are deemed to be effected (VAT
chargeable) when:
work reports or work statements are issued or,
depending on the contractual provisions, on their
acceptance by the beneficiaries.
So, the settlement period of such services is no longer
limited to 1 year;
Comes into force from September 5, 2011.
15. Detailing the waste categories for
which the simplification measurements
apply (reverse charge mechanism)
Delivery of ferrous waste, scrap and recyclable materials,
used recyclable materials consisting of paper, paperboard,
cardboard, fabric, rubber and plastic, glass and glass
shards;
Delivery of after processing of materials by cleaning,
polishing, selection, cutting, fragmenting, pressing or
casting into ingots;
Comes into force on 5 September 2011.
16. The deadline for submitting the VIES
statement (D390)
The deadline for submitting the VIES statement, starting
with the declaration for August 2011, is 25 of the month
following the reporting month, compared to 15 of the
month following the reporting month as it was previously
provisioned.
Comes into force starting with the declaration of August
2011.
17. Penalties regarding summary
statement VIES(D390)
Penalties have been modified for summary
statement VIES, namely:
for not submitting the fine will be 1.000 RON to
5.000 RON and
for incorrect or incomplete filing the fine will be
from 500 RON to 1.500 RON.
The 2% fine from the total amount of
purchases/deliveries of goods undeclared has been
eliminated.
18. Local taxes (1)
The tax rate on buildings that have not been revaluated in
the past 3 years varies between 10% to 20%, while for
buildings that have not been revaluated in the past 5
years varies between 30% to 40%;
Even the buildings which are not registered with the
Office of Cadastre and Real Estate Publicity are
obliged to make a tax declaration for local taxes;
Obligation to pay tax on buildings whose construction
was not completed within the time provided in the
building permit and the authorisation was not renewed;
Comes into force from 1 January 2012.
19. Local taxes(2)
Declaring buildings for taxation and registration in the
records of local authorities is a legal obligation of
taxpayers who own these buildings, even if they were
executed without a building permit;
Setting a fix accomodation tax for hotels which can be
imposed by Local councils, namely a rate of 1% of the
total accomodation tariff / hotel day / tourist;
Comes into force on January 1, 2012.
20. Local taxes(cont.2)
Granting discounts on the tax on buildings or
even exemptions for a period of maximum 7
years, starting with October 1 2011, for the
following categories of buildings:
Rehabilitated buildings under the legal provisions
of the program on increasing the energy
performance of housing blocks;
Rehabilitated buildings based on the Law 153/2011
on measures to increase the quality of architectural
- environmental buildings.
21. Granting reliefs for outstanding tax
obligations that needs to be settled by
August 31,2011
Granting reliefs for outstanding tax obligations that
needs to be settled by August 31 2011 (comes into
force on September 5 2011) namely:
a) Cancelation of late payment penalties if the outstanding
obligations and interest are settled through voluntary
payment or compensation until December 31 2011;
b) 50% reduction in penalties for late payment if the
outstanding obligations and interest are settled through
voluntary payment or compensation until June 30 2012.
22. Order of settlement for tax liabilities
• Changes in the order of settlement for tax liabilities in
terms of settling firstly the main obligations in order of their
seniority and after accessories in order of their seniority, to
avoid accumulation of new accessories for taxpayers,
namely:
a) Withholding taxes;
b) Other tax obligations (principal);
c) Tax accessories obligations in relations to taxes
presented at a) and b).
23. Procedure of the tax documentation
Introducing the verification procedure of the tax
documentation in order to analyze correctly the
taxpayer’s fiscal situation and possibly establish
differences for due tax liabilities if the real situation differs
from declared status.
The documentary verification consist in performing an
analysis of the taxpayer’s tax position:
– upon on existing documents of the taxpayer’s file and
– on any submitted information and documents provided by third
parties or held by the tax authority, which are relevant to
determining the fiscal situation.
24. Estimation of the fiscal base
The tax authorities estimate the fiscal base if:
a) tax returns were not filed or
b) accounting records or tax returns or documents
submitted to inspection were incorrect, incomplete
or were not submitted at all
Tax liabilities resulting from the estimation are
subject to further verification.
25. Order of communication of
administrative acts
The priority for means of communication of
administrative acts has been established:
priority by mail;
by submitting or presentation of the taxpayer / authorized
agent at the tax body;
by fax, e-mail or other remote electronic means and
ultimately by advertising.