Microbusiness Tax Act to be amended (1/17/15) (0)

23.04.2015

Draft

Proposals for amending the Microbusiness Tax (MBT) Act were debated at a meeting of state secretaries on 16 April 2015. This article explores what we see as key amendments. Read more..

Things to consider when completing CIT return for 2014 (2/17/15) (0)

23.04.2015

Practice

April is a hectic month for many companies as nature wakes up and business is booming, with accountants in a hurry to put together financial statements for the past year. This article summarises recent changes to the corporate income tax (CIT) legislation as far as completing your CIT return for 2014 is concerned. Read more..

Board liability (3/17/15) (0)

23.04.2015

Practice

Amendments to the Taxes and Duties Act effective from 1 January 2015 significantly broaden the personal liability of a limited company’s board of directors. The State Revenue Service (SRS) can bring proceedings to recover a company’s tax arrears from someone who sat on its board when those taxes became overdue. Read more..

Claiming refund of overpaid social insurance contributions (1/16/15) (0)

14.04.2015

Practice

An individual’s taxable income attracting national social insurance (NSI) contributions has been capped again with effect from 2014 (at €46,400 in 2014 and at €48,600 in 2015). Neither the employee nor the employer is required to pay any more NSI contributions after reaching the maximum amount of taxable income, and any overpayment will be duly refunded. This article explores how NSI overpayments are measured and refunded. Read more..

Transfer pricing audits (2/16/15) (0)

14.04.2015

Practice

Having received a letter from the State Revenue Service (SRS) about an impending corporate income tax audit, companies frequently ask PwC to advise whether their related-party transactions meet the arm’s length standard. The SRS’s letter does not always mention that a transfer pricing audit will also be conducted. Read more..

 
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