All the countries around the world regardless of whether they are big or small, wealthy or poor, developed or developing, are facing the consequences of the coronavirus crisis. The ongoing COVID-19 pandemic has revealed the fragility of healthcare systems, the instability of economic structures, and the vulnerability of society.
Changes In The Taxation System in Hungary in 2022
The summary below highlights the most important changes to the Hungarian Tax Regime for 2022.
Bulgaria: International Equity Plans – Local Tax Compliance Issues
US-based and other multinational employers with subsidiaries in Bulgaria often include their Bulgarian employees in their equity plans and grant them equity awards. Implementing an international equity plan in Bulgaria for the first time can be challenging for any multinational employer, as they should ensure compliance with Bulgarian laws and regulations. Tax compliance could raise particular concerns, as Bulgarian tax law is silent on many issues and the views of the Bulgarian tax authorities lack consistency throughout the years.
Novelties in Serbian Tax System
With the acceleration of the process of transition to a market economy, since 2001, Serbia has carried out a fundamental reform of its tax system, which has undergone several further changes in the past two decades. Last year brought numerous changes to the tax system in Serbia, and the introduction of the taxation regime for digital assets and tax control were a particular focus.
Paradigm Shift in Austrian Crypto Taxation
The pioneering Austrian legislator is breaking new ground in the area of crypto taxation. Income from cryptocurrencies will no longer be taxed progressively, at up to 55% for individuals, but at a flat rate of 27.5% withholding tax. With these rules, the Austrian legislator has brought clarity to the taxation of crypto assets for the first time and has responded to the increased practical relevance of cryptocurrencies and the need to tax them in line with securities. The previous taxation of crypto assets was mainly based on non-binding information from the homepage of the Austrian Ministry of Finance.
Income Taxation for Individuals Who Transfer Their Tax Residence to Greece
In early 2021, Greece has introduced a new ambitious tax regime in order to motivate the opening of new employment positions and especially motivate Greeks who have moved abroad due to the severe economic crisis of 2010 to relocate back to Greece. In addition, salaried employees in the private sector, as well as average businessmen and freelancers who perform their activities in Greece while their tax residence is being registered abroad, can also benefit from the new favorable tax regime and transfer their tax residence in Greece.
A New Era for Ukrainian Taxpayers
This year marks the start of a new era for all Ukrainian taxpayers – both corporate and individuals. Ukraine lawmakers up to – and especially in – 2021 made unprecedented efforts to implement into local law and the network of double tax treaties major recommendations and principles which went far beyond the minimum base erosion and profit shifting (BEPS) action plan Ukraine committed to in 2017.