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EU countries reach political agreement on Anti-Tax Avoidance Directive

Tax and Legal Alert, July 2016, Issue 3, The EU-28 Finance Ministers reached political agreement on 21 June 2016 on the Council Directive laying down rules against tax avoidance practices that directly affect the functioning of the internal market (also known as ATAD). ATAD was approved by the Council on 12 July 2016. Key provisions in the ATAD: deductibility of interest, rules for exit taxation, a general anti-abuse rule, CFC rules and rules addressing mismatches between Member States arising due to hybrid entities or hybrid instruments.

The filing of electronic customs declarations will no longer be an option, but an obligation

Indirect Tax Alert, June 2016, Issue 3 As of 1 May 2016, a new Union Customs Code came into force. The basic principles of customs procedures remain unaffected by the new customs legislation, i.e. goods imported from non-EU countries and exported back to these countries are still subject to customs clearance. However, there are several changes, some of which are fundamental, related to new benefits and the tightening of certain rules.

Anti-Tax Avoidance Package partly adopted by EU finance ministers

Tax and Legal Alert, June 2016, Issue 2 Economic and Financial Affairs Council of the European Union (“ECOFIN”) adopted some parts of the Anti-Tax Avoidance Package (ATAP) announced in January at their latest meeting on 25 May 2016.

Information on the latest guidelines and information issued by the Slovak Financial Directorate on VAT

Indirect Tax Alert, May 2016, Issue 2 In this issue, we provide information on the latest guidelines and information issued by the Slovak Financial Directorate (“Slovak FD”) on VAT. Updates relate especially to Control Statement reporting.

Cross-border cooperation with respect to posting of employees to carrying out work to provide services

Tax and Legal Alert, April 2016, Issue 1 From 18 June 2016 Act No. 351/2015 on cross-border cooperation as regards posting employees to perform work as regards the provision of services will become effective.

Information in relation to the Amendment of the Slovak VAT Act (268/2015 Z.z) and the Amendment to the Slovak Administration Act (269/2015 Z.z) effective as of 1 January 2016

Indirect Tax Alert, February 2016, Issue 1 In this issue you can find information on the latest guidelines and information issued by the Slovak Financial Directorate and the Ministry of Finance of the Slovak Republic in relation to the Amendment of the Slovak VAT Act and the Amendment to the Slovak Administration Act effective as of 1 January 2016.