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SLIM VAT 3 – changes in value-added tax

The Ministry of Finance presented a package of simplifications in value-added tax so-called SLIM VAT 3 (Simple Local And Modern VAT). Planned changes are divided into 7 areas: impact on the financial liquidity of companies; less formalities in VAT in international trade; extension of the scope of VAT exemptions; changes in VAT settlement; changes in […]

Draft Directive for preventing the misuse of shell entities (ATAD 3)

On 22 December 2021, the European Commission published a draft EU Directive (2021/0434 (CNS), called ATAD3. ATAD 3 is a key initiative to fight against the misuse of shell entities, i.e. entities without sufficient business substance to obtain unjustified tax benefits.  The directive defines the criteria – so-called substance conditions – for additional reporting obligations. In […]

Lower VAT rates in Poland

As of 1 February 2022, the so-called Anti-Inflation Shield 2.0 came into effect, as a further measure, following the so-called Anti-Inflation Shield 1.0, in force since 1 January 2022, taken to mitigate the effects associated with rising inflation. Both acts introduce a temporary reduction of VAT rates on certain goods. Details of the VAT reduction […]

Tax calendar for February

To avoid any threat of penalties calculated based on late submissions, or late payments, we summarized the crucial deadlines for February 2022 that should be taken into consideration with respect to your business in the Czech Republic: 09.02. – Excise duty due date, excluding excise duty on alcohol for December 2021, 14.02. – Submission of […]

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