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..

OECD’s VAT guidelines on place of supply of services (3/16/15) (0)

14.04.2015

Practice

In April 2014 the Organisation for Economic Cooperation and Development (OECD) issued guidelines on the VAT treatment of cross-border services. The purpose of these guidelines is to shed some light and prevent double taxation or unintentional failure to charge VAT as a result of inconsistent VAT treatment of cross-border services. Although the guidelines are intended as a point of reference and do not represent detailed instructions for national legislation, the findings set out in the guidelines offer taxpayers reasonable grounds for the VAT treatment of complex cross-border services. This article explores some of the relevant situations described in the guidelines. Read more..

Microbusiness Tax Act to be amended (1/14/15) (0)

02.04.2015

Draft

Proposals for amending the Microbusiness Tax (MBT) Act have received parliamentary approval in their second reading. Changes are being made to the rules governing the rates applicable to microbusiness revenues and the distribution between the tax accounts. This article takes a look at some of the proposed amendments. Read more..

VAT on property transactions (2/14/15) (0)

02.04.2015

Practice

The VAT Act lays down an extensive set of special rules for real estate (RE) transactions because they involve a high degree of VAT risk. In practice, however, it is often unclear what services are treated as related to RE. This article explores new guidelines recently issued by the State Revenue Service (SRS) and discusses some of the risks associated with applying them. Read more..

 
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