The VAT rate in Bulgaria has remained unchanged at 20% for many consecutive years. Recently, there has been a lot of debates on the future possibility of amending the VAT rate for certain food products as well as medicines and…
As a collection of emerging markets with strong growth potential, the Balkan countries have firmly positioned themselves on the map of attractive investment locations. Steadily growing numbers of foreign investors have expanded into Albania, Bosnia and Herzegovina, Croatia, Kosovo, North…
The newly adopted (June 27, 2019) and published (Official Gazette No.133/28-06-2019) Law on Partial VAT Refund to Physical Persons has been met with both enthusiasm and a myriad of questions from individuals. The Law – for the first time in…
This small Mediterranean country – known as the perfect blend of gorgeous coastline and dramatic mountains – has much more to offer then meets the eye. In terms of the business climate, significant progress has been made in the last…
On February 5, 2019, the Georgian Ministry of Finance issued Order No. 30 on the classification of taxpayers, which has entered into force on February 7, 2019. As stated in the Order, the category of a taxpayer is determined by…
PSD2 (Second Payment Services Directive) is an EU Directive with a huge impact on payment processing industry. The traditional role of banks in this sector is drastically changing as they are faced with the obligation to open their communication channels…
Earlier in 2019, the National Assembly of Republic of Srpska adopted the Law on Games of Chance, aiming to improve the organization of games of chance and their introduction into legal frameworks. The new law – adopted in March 2019…
On 25 April 2019, the tax authorities issued an official notice to the Serbian Chamber of Commerce regarding the issue of employees’ transportation cost taking into consideration the Ministry of Finance’s opinion no. 011-00-12/2019-4 dated 1 February 2019. The Labor…
The 2019 fiscal year in Albania introduced significant changes in the Law on Income Tax. The new law provisions provide for a reduction of the income tax rate on dividends and income sharing, for the shareholders and partners of legal…
Read in Greek While the new Law 4557/2018 on the prevention and suppression of money laundering is still only a few months old and whilst the Central Registry of Beneficial Owners has not yet been implemented as foreseen, a new…