Customs warehouse rules to be amended (2) (1/29/14) (0)

16.07.2014

Draft

In last week’s edition of Flash News we informed our readers about proposals aimed at easing the administrative burden when it comes to applying for a customs warehouse keeper licence and running a customs warehouse. This article explores the proposed changes to various procedures and requirements that will affect customs warehouse keepers. Read more..

Proposed changes to annual income tax return form (2/29/14) (0)

16.07.2014

Draft

Proposals for amending Cabinet Regulation No. 568 on the personal income tax (PIT) return and how to complete it have been announced at the meeting of state secretaries following substantial amendments to the PIT Act. Read more..

New corporate tax rules for R&D activity (3/29/14) (0)

16.07.2014

Passed

Taxpayers can claim a corporate income tax (CIT) deduction for their research and development (R&D) expenses multiplied by a coefficient of 3. This condition applies to research work with project documentation developed by the trader. This article explores Cabinet Regulation No. 373 of 1 July 2014, which lays down requirements for assessing R&D activities for CIT compliance, and requirements for preparing relevant documentation. Read more..

Customs warehouse rules to be amended (1) (1/28/14) (0)

09.07.2014

Draft

Proposals for new customs warehousing rules were announced at a meeting of state secretaries on 26 June 2014 to replace current Cabinet Regulation No. 16, Customs Warehousing Rules. These rules are being recast in the light of significant amendments passed recently, including changes in the number of documents to be filed with the State Revenue Service (SRS) for taking out a licence, and changes to the arrangements for cancelling and suspending a licence. This article explores what we see as key changes. Read more..

Cash controls (2/28/14) (0)

09.07.2014

Practice

Section 30 of the Taxes and Duties Act, which places restrictions on the use of ready cash, remains unchanged since 2012, except for recent amendments relating to the introduction of the euro. The State Revenue Service (SRS) issued cash control guidelines on 13 January 2014. This article takes a look at what’s new. Read more..

 
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