Following the Fiscalization Reform which has officially started in January 2021, the General Directorate of Taxes of the Republic of Albania has issued an official announcement according to which: “All the entities that have started issuing electronic invoices for cash transactions from a…
The Government of Montenegro has announced new measures to support the economy for the second quarter of 2021, due to the crisis caused by the Covid-19 pandemic. As announced with the implementation of support measures, since the first quarter of 2021, the government worked on the adoption of a new package of measures to support the Montenegrin economy and the citizens. The package for the second quarter is aimed at special support for the liquidity of the economy ,as well as keeping the employment levels to meet the tourist season. The most important segment of this support package is a credit support to the economy, which will be implemented in several phases, with the aim of providing the economy with about 110 million euros of new credit funds. The estimated value of the new support package is € 166,075,000. With this new package the government has proposed and adopted…
The tourism sector, which employs about 150,000 people, has been hit tremendously by the COVID-19 pandemic. For more than 6,000 companies linked to tourism, property tax and income tax payments were deferred for 4 months until November 1st. In addition, 2,200 hotels, with…
In Effect on 1 July, 2021 New changes were introduced into national VAT legislation related to the implementation of the provisions of Council Directive (EU) 2017/2455 of 5 December 2017 amending Directive 2006/112 / EC and Directive 2009/132 / EC…
Impact on TP Study & Income Tax for 2021 The Ministry of Finance of Serbia has adopted the Rulebook on interest rates for 2021 that should be applied for the purposes of calculation of income taxes and also can be…
Since the beginning of 2021, it has been questionable whether grants received to mitigate the negative consequences of COVID-19, should be included in the basis for calculating the tourist and forest contribution fees given that there was no legal basis…
The new law adopted in late December 2020 regulates the subject of fiscalization and its process through an electronic device as well as the content of the fiscal account. The government aims at a system that will ensure the registration…
This was stated, by the Minister of Finance, Christos Staikouras, who also described the network of short-term policies that will support the restart of the economy. The cost of the support measures will approach 15 billion euros this year, with a target…
Despite the third wave of COVID-19 and strict quarantine restrictions, April in Ukraine was very rich in news, bill proposals and law amendments. The President of Ukraine, Volodymyr Zelensky, approved important laws about security, courts, and Russian sanctions. Moreover, amendments in Tax Legislation, card fees policy and…
The Ministry of Finance announced on April 22nd new tax cuts and the abolition of the special solidarity contribution for natural persons engaged in business activity, legal persons and legal entities. More specifically: From this year onwards, the mandatory tax pre-payment will be permanently reduced from 100% to 55% for all individuals engaged in business…