Client identification continues to be in focus within the relationship of clients and service providers
The fight against money laundering and terrorist financing in the European Union has recently become much more focused than in the past. Although the process laid down in EU legislation has not fundamentally changed, with the actual ownership database now in place, all accounting and registered office services firms will have a serious task if they want to avoid fines. Below is an overview of the risks associated with the new changes.
Changes in payroll legislation effective from 1.1.2022 – SME Info Czechia 2022-1
We shortly summarize changes of Czech legislation relating to payroll. It is summarizing some regular annual updates of certain thresholds as well as some expected changes from recently passed legislation.
Polish Deal 2022 – SME Info PL Nr.2021-01
The result of the socio-economic programme “Polish Deal” announced by the Polish government this year is the introduction of amendments to the Corporate Income Tax Act, the Personal Income Tax Act, the VAT Act and some other laws, most of which will enter into force from 2022. Some of these changes will enter into force at a later date, but no later than from 2023. In the attached newsletter, we will mainly outline the changes to the CIT and VAT legislation and the related changes to the Entrepreneurs’ Law, which may have significant financial consequences for companies and entrepreneurs who are subject to these forms of taxation.
Tax changes due in 2022 in Hungary – SME INFO Nr.2021-09
The purpose of SME INFO HU 2021-09 newsletter (available both in English and Hungarian) is to provide general information and to draw the attention to the most important changes in taxation in Hungary due in 2022.
Progress in government digitalization in Czechia
Czechia was one of the first CEE countries to implement digital communication between authorities and businesses. In present newsletter we give a short intro about the changes coming into effect in two steps, on 1 January 1 2022 and 2023.
Implementation of the ultimate beneficial ownership register (UBO register) in Hungary — SME INFO 2021-08
The purpose of SME INFO HU 2021-08 newsletter (available both in English and Hungarian) is to review Act XLIII of 2021 on “The Establishment and Operation of the Data Reporting Background for the Identification Tasks of Financial and Other Service Providers”, and to explain the concept of ultimate beneficial ownership and what our responsibilities are as an accounting and registered office service provider in relation to the new register and how it will affect our Clients.