Tax and legal news

On 15 September 2020, the Chamber of Deputies approved the governmental bill that abolishes the real estate transfer tax with retroactive effect. Owners of real estate that was recorded in the Real Estate Register in December 2019 and later do not have to pay the real estate transfer tax.

The amendment to the VAT Act effective from 1 September 2020 contains four major changes.

All self-employed persons were exempt from the obligation to pay advance payments on pension contributions in the period March – August 2020.

Self-employed persons (“SEP”) that performed their business activities in 2019 were obliged to file their Summary of income and expenses of the self-employed person (“the Summary”) to their respective social security authority by 18 September 2020 at the latest.

The government approved its draft of the directive on extraordinary extension of the period in international cooperation in tax administration with respect to COVID-19 pandemic.

The National Accounting Council (the “NAC”) updates interpretation of I-40 Reporting of intangible results in research and development.