April 2012

At the end of 2011 a second bill was introduced into parliament for the revision of the Law on Renewable Energy Sources. On 28th March 2012 the amendments in the law were voted at second reading, and they will be published in the State Gazette. What essentially are the amendments: Amended is the moment of determining the preferential purchase price of the electric energy produced from RES...

The new Double Tax Avoidance Treaty with Austria came into force as of 3 February 2011. The Treaty applies to taxation at source of profits made on and after 1 January 2012. Concerning other types of taxes, the Treaty is applicable as of 1 January 2011. In contrast with the old treaty, the new Double Tax Avoidance Treaty with Austria entirely follows the structure of the Tax Convention Model...

As is well known, as a result of the financial crisis ЕU’s two major member states – France and Germany exerted pressure on the European Commission to introduce the so called tax on financial transactions. Consequently, on 28th September 2011 the European Commission presented a proposal for a Council Directive for a common system of financial transaction tax and amending Directive 2008/7/EC.

With the start of the new year, the widely discussed and received with controversial responses Pension Reform also begins. It foresees an increase in the pension age and the necessary years of service. The length of service and pension age was pushed up for women and men by 4 months and it will continue to rise every subsequent year with 4 months.