On 3 July 2024, the Austrian National Council adopted the draft COFAG Consolidation Act, which introduces significant changes to the handling and processing of funding claims and refunds by the COVID-19 Financing Agency of the Federal Government (COFAG). This marks a major step towards the final dissolution of COFAG.
New Special Taxes for Companies to be Introduced in Hungary
The announcements made by the Hungarian Government on 8 July 2024 envisage a number of new and higher payment obligations, as well as other public taxes and restrictions, that will include a defence contribution, increased administrative fines, extra profit tax, changes to social contribution tax on entering the labour market, transaction and currency exchange levies
Postponed Entry into force of the New Land Registry Act and Other Amendments to Different Laws
A bill amending certain laws affecting the functioning of the state was adopted by the Parliament in the middle of June 2024. The bill postpones again the entry into force of the new Land Registry Act to 15 January 2025. In addition, the bill amends provisions in several different areas of law (e.g. health, education, immigration).
Hungarian Government Extends Reduced VAT Rate for New Homes
Finance Minister Mihaly Varga announced on 4 May 2024 that the Government will prolong the preferential VAT regime for new homes for an additional two years.
Amendments to the Real Estate Tax Legislation: Significant Changes for Businesses Planned as of 2025
On 17 June 2024 the Ministry of Finance published a draft law amending the Polish real estate tax (RET) regulations. The amendment is primarily aimed at adjusting Polish RET regulations to last year's verdicts of the Constitutional Tribunal (ref. SK 14/21 and SK 23/19) questioning the constitutionality of the existing regulations and repealing them with effect from the beginning of 2025. However, the proposed changes may also significantly affect the RET burden for entities from a wide range of business industries.
New Function on NAV’s Mobile Application: Checking Data on Employment
With a new function on the National Tax and Customs Administration’s (NAV) mobile application (“NAV Mobile”), anyone can check whether their employer has notified the tax authority about their employment in accordance with the employment contract.
Slovakia Indirect Tax Alert: Tax on Sweetened Non-alcoholic Beverages
The Slovak government proposes a bill introducing indirect tax on sweetened non-alcoholic beverages with added sugar or sweeteners. Due to the voting majority in the National Council, it may be expected that the bill will be passed and will become effective from 1 January 2025.