Hungary and Taxing Taxes
The number thirteen is commonly recognized as an unlucky number. But for Hungarian businesspeople, the preceding number is worse, as the 12th is the deadline for paying taxes.
taxes
What New Polish Government Can and Should Do for Entrepreneurs
Donald Tusk outlined priorities for the Polish government for the next months. In his expose, he paid a lot of attention to entrepreneurs, promising to limit inspections of micro-entrepreneurs, introduce a cash-based personal income tax for entrepreneurs settling this tax with the tax authorities, and a vacation for entrepreneurs, i.e. one month a year free of social security contributions and a benefit of half the minimum wage.
Global Taxation Minimums Endanger Bulgaria’s Competitive Position
Bulgaria’s Мinistry of Finance recently published the ‘tax package’ for 2024, including proposed changes to all tax laws. Alongside widely discussed cases such as the return of the standard VAT rate for restaurants and bread and non-payment of bills in case of an undeclared cash receipt, the package also includes perhaps the deepest change in business taxation in our country in over 15 years.
Advance Corporation Tax Is Too Expensive for More Than Just Businesses
The complexity of the advance payment of corporate income tax (CIT) creates administrative burdens for businesses and hinders the path to greater competitiveness. To ensure the stability of the state budget and higher tax revenue collection, the CIT regime was complemented by an advance CIT in the early years of the restoration of Lithuania’s independence. Companies pay it before profits are earned, thus crediting the State.
Poor Smoker: Tobacco Taxation in Slovakia
The need to consolidate public budgets is perhaps already evident, even to those political parties that have long perceived resources as limitless and freely available. Investors worldwide eagerly await opportunities to lend to debt-ridden Slovakia. Consolidation plans are beginning to emerge, the Financial Policy Institute at the Ministry of Finance has published the impact of austerity and tax measures on GDP.
What A. Smith Teaches Us About Taxpayers’ Rights?
Who should be taxed, how should they be taxed and what purpose should it serve? These questions are as old as the world. To help answer them, in his 1776 work “The Wealth of Nations” the Scottish economist and philosopher Adam Smith formulated four principles of taxation. According to him, taxes should be proportional to the benefits that a person derives from belonging to society.
Additional Tax on Apartments: from Myth to Very Bad Policy
According to the increasingly popular narrative, apartments purchased for investment purposes are almost synonymous with unoccupied buildings, that is uninhabited properties. The villains are investors, both institutional (apartment funds) and individual (wealthy individuals). They allegedly buy apartments from the market in order to “speculatively” refrain from placing them on the market in anticipation of a further increase in real estate prices.
Butter on Head of Madeta’s Boss
In an interview with Seznam Zprávy, the head of Madeta (a Czech dairy company) Milan Teplý stated several facts that contradict basic financial knowledge. He began the interview by saying that Madeta will be profitable this year. However, he immediately added: “It’s a sin to be in profit, we won’t get subsidies.” We do not understand this. Why should a company that is making profit seek subsidies and ask the state for support?
Opposition Remains Against EU Minimum Corporate Tax
The directive imposing a pan-EU 15 percent minimum effective corporate income tax on large companies, would, according to the European Commission, address tax challenges caused by digitalization and ensure that companies pay “their fair share of tax.”
Czech Tax Freedom Day 2022
Czechs have to hold out for one more month. After June 17, 2022, they will start earning for themselves. Until then, for 167 days, they work only for the state. That makes this year one of the least free since the Liberal Institute has been counting Tax Freedom Day since 2000.
