Tax Code to be changed

On October 23, 2017, the Codification Commission of the General Tax Law (KKOPP) drafted and proposed a new Tax Ordinance to replace the current Tax Ordinance of August 29, 1997, which had been amended over 100 times since coming into force 20 years ago.
As the justification suggests, the regulations set out in the draft ordinance are intended to serve two basic purposes:
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CbC reporting | Equity accounting consolidation

Further to the latest Country-by-Country Reporting Guidelines prepared by the OECD (September 2017), entities included in the consolidated financial statement under equity accounting rules should not be subject to CbC reporting.As stated in in Chapter III of the OECD Guidelines: „[…] an entity included in the MNE Group’s consolidated financial statements under equity accounting rules would not be a constituent entity”.

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