A proposed amendment to the 2025 finance bill. The tax is currently levied at a rate of 3%, but it is proposed to increase the DST rate to 5%. Such a move could generate more than €500 million in additional revenue in 2025. An increase in the DST rate to 6% was previously proposed, but...
In October, an official letter was issued that regulates this issue. It states that storing the image part of a hybrid invoice in its original form is mandatory if it contains relevant entries for tax purposes, such as booking notes. An earlier version stated that providing an email address was sufficient to comply with the requirement to receive electronic invoices from 1 January 2025. It is now clarified that it is not necessary to have a separate email address to receive electronic invoices. And as an example of other acceptable European invoice formats, the Peppol BIS electronic invoice format is mentioned in the letter, replacing the Italian FatturaPA...
One of the main measures of the bill is to increase the VAT registration threshold from EUR 40,000 to EUR 50,000. The bill also proposes measures under the EU small business scheme for cross-border supplies. A taxable person established in another EU Member State may be exempt from VAT registration in Croatia if its annual turnover in Croatia does not exceed EUR 50,000 and its annual turnover in the EU does not exceed EUR 100,000. Measures are also proposed that will enable small businesses established in Croatia to apply for an exemption in other EU Member States if their annual turnover in the EU does not exceed EUR 100,000. If approved, the bill will enter into force on 1 January 2025. Comments can be submitted until 24 October...
The amendments were published in the Official Gazette in September 2024. Among them: It is planned to introduce a new reduced VAT rate of 15%. In addition, the volume of supplies subject to a reduced VAT rate of 7% has been revised. The zero VAT rate is abolished for supplies of goods and services related to the construction and equipment of hospitality facilities with a category of five or more stars. The VAT exemption for supplies of low-value goods worth up to 75 euros is abolished. The threshold for one-time taxation of self-employment income has been increased from 18,000 euros to 30,000 euros. The measures will enter into force on 1 January...
The evaluation was conducted by the Mercer CFA institute among 48 countries. The top 5 also included Iceland, Denmark, Finland and Norway. Spain took 15th place. The Philippines, Argentina and India received the lowest index. One of the recommendations in the report was a proposal to raise the state pension age, as well as encourage personal...
Now, to provide it, it is necessary to have sufficient knowledge of the Polish language. The introduction of measures is related to abuses of the law on the Pole's Card, which grants citizenship to applicants of Polish origin upon repatriation. Many owners of the Card used forged documents to obtain it. Currently, more than 206,000 people have the Pole's Card. At the same time, according to the Center for Migration Studies, about 7,000 cards were issued to persons who did not confirm their Polish...
The presented draft financial bill for 2025 proposes to make a number of changes to the tax system. It is proposed to introduce indexation of income tax rates taking into account inflation. It is also proposed to introduce an exceptional contribution to ensure a minimum tax rate of 20%, which will be applied to taxable households whose taxable income exceeds 250,000 euros for an individual or 500,000 euros for a couple for 2024, 2025 and 2026, with a differentiated contribution in cases where the average tax rate is less than 20%. In addition, it is about introducing a temporary additional tax on corporate income tax for large companies with an annual turnover of at least 1 billion...
The new rule involves determining average daily, monthly and annual amounts of income from commercial and professional activities. If the declared amounts differ from the average amounts by more than 20%, the taxpayer is “asked” to explain the difference. This applies to both individuals and corporate...
The FAQs were updated on September 24. The update adds questions 25-43. The main question is question 25. It concerns whether the company should account for non-interest-bearing balances payable for the local file and summary information table. Non-interest-bearing balances payable are not accounted for in 2022 and 2023, but are accounted for from 2024. The other questions clarify administrative...
The country's Ministry of Finance has announced plans to increase the VAT rate on broadcasting from 10% to 14%. The changes are scheduled to be introduced on 1 January 2026. The increase follows updated budget plans for 2025. The plan includes an increase in the VAT rate on supplies currently subject to a VAT rate of 10% to 14%, with the exception of newspapers, magazines and broadcasting. In addition, there is a proposal to raise the income threshold above which individuals pay broadcasting tax from 14,000 euros to 15,150 euros from 2025. And the maximum amount of broadcasting tax could be reduced from 163 euros to 160...
