On 8 July 2022, the U.S. Treasury Department announced the termination of the double taxation treaty with Hungary concluded in 1979. The termination is effective from 1 January 2024.
KATA Taxation Closed down in Hungary
On 12 July 2022, just one day after its proposal, the Hungarian Parliament accepted the new law that affects more than 430,000 KATA taxpayers in Hungary, most of whom will no longer be eligible for this tax regime starting from 1 September 2022.
Shiny and New Tax Legislation in Austria: A Buzz Interview with Michaela Petritz-Klar of Taylor Wessing
Tax legislation updates are the zeitgeist in Austria right now, according to Taylor Wessing Partner Michaela Petritz-Klar, with the energy sector, cryptocurrencies, and online platforms being at the forefront of overhaul efforts.
SPC Legal and Wint Join Forces Forming Noor
Lithuania's SPC Legal and Wint have joined forces to form a new law firm: Noor.
Important Amendments Brought to the Fiscal Code
On July 15, 2022, in the Romanian Official Gazette No. 716, Ordinance No. 16/2022 for the amendment of Law No. 227/2015 regarding the Tax Code, abolishment of certain normative acts and other fiscal-financial measures (“Ordinance 16/2022”) was published, through which multiple amendments were brought to the fiscal framework.
Romania: Important Amendments to the Romanian Fiscal Code
Government Ordinance no. 16/2022, published in Official Gazette no. 716/15.07.2022 on 15 July 2022, entails important amendments to the Romanian Fiscal Code.
Wartime Tax Relief Restricted
On 27 May 2022, Law of Ukraine “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine Regarding the Peculiarities of Tax Administration of Taxes, Fees and Unified Social Contribution During Martial Law and the State of Emergency” No. 2260-IX, dated 12 May 2022 (the “Law”), entered into force. The Law introduced several changes to the taxpayers’ rights and obligations during martial law.