Starting with 1st of January 2017, standard VAT rate will become 19% instead of 20%. This reduction of VAT following the previous decrease in 2016 from 24% to 20% for standard VAT rate together with reduced rates of 9% and…
Eurofast’s participation in conferences & seminars in Russia has now become a strong tradition. This year, a high-level official visit was made in Moscow and St. Petersburg, to share knowledge through the 8th Annual IBA “Mergers and Acquisitions in Russia…
The preferential VAT rate of 5% in FYR Macedonia is commonly applied to – among others – human food products; medicines and medical equipment; publications; seeds and planting material used in agriculture; other agricultural products such as fertilizers, foils and…
A VAT rulebook introducing a new form – called POPDV – was published in the Serbian Official Gazette no.80/16 dated 30th September, 2016. The rulebook has been met with strong criticism, particularly due to its adoption without consultation and cooperation…
On November 8, 2016, the new Bulgarian VAT system applicable to free food donations was published in the Official Gazette of Bulgaria. The Law will be applicable as of January 1, 2017 and will result in VAT-free supply of food…
Digital certificates have been in use in Montenegro since 2010, enabling the electronic signing of documents in a fast, easy and safe manner. Per Montenegrin legislation, the digital signature has the same legal effect as a handwritten signature and is…
Cyprus continues to be one of the most preferred jurisdictions for international businesses managing and holding investments. An attractive place to do business, it is also one of the best gateways to invest in the European Union (“EU”). The sunny…
Transfer pricing rules have been present for more than a decade in the Albanian Corporate Income Tax (CIT) Law, but specific and detailed regulations on the application of these rules was only published in the Official Journal No 70, dated…
Bulgaria fully applies the OECD Transfer Pricing Guidelines. Bulgarian transfer pricing rules were initially introduced in the Corporate Income Tax Act (CITA), Tax and Social Security Procedures Code (TSSPC), as well as in the Ordinance № H-9 for implementation of…
The double tax treaty between the Government of the Republic of Serbia and the Government of the Republic of Kazakhstan on the avoidance of double taxation and prevention of tax evasion, signed on 28 August 2015 in Astana, has been…