Following the restrictions in the Far East, all companies operating online marketplaces in Hungary can expect significant tax changes and a new tax burden from January 2025.

The longstanding partnership between Hungary and Serbia has taken another step forward with the recent amendment to the double taxation convention. These agreements are crucial for eliminating double taxation on income and assets for both individuals and companies, fostering a more favorable business climate.

North Macedonia, strategically located in the heart of the Balkan Peninsula, south-eastern Europe, is a landlocked country with a unique advantage. Its position between two main European corridors, coupled with political and democratic stability and a favorable tax and regulatory framework, makes North Macedonia a promising destination for potential foreign investors. The country offers abundant possibilities, especially in greenfield investments, renewable energy, software, IT services, logistics, construction, cannabis production, agriculture, food services, tourism, etc.

The proposed Draft Law on Amendments and Supplements to the Law on Games of Chance brings several important changes, certain new legal solutions as a result of the needs of practice and market development, harmonization of the text of the law with technological development in this area, but also introduces new obligations to organizers and significantly increase in fees for obtaining approval and for organizing of games of chance.

Nicolas Wolski has become the new Head of Tax at BPV Huegel, taking over from Partner Gerald Schachner.

The National Council of the Slovak Republic has recently approved significant changes to the Value Added Tax (VAT) rates, which will come into effect as of January 1, 2025. Here are the key updates: