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Tax Cards | 2020 a Summary of Tax Facts of Countries in the EMEA Region 2 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA

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Tax Cards | 2020 a Summary of Tax Facts of Countries in the EMEA Region 2 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA EUROPE, MIDDLE EAST & AFRICA Tax Cards | 2020 A summary of tax facts of countries in the EMEA region 2 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA EUROPE, MIDDLE EAST & AFRICA Tax Cards | 2020 The AGN EMEA Tax Surveys of: Index Austria 04 Belgium 08 Cyprus 12 Czech Republic 14 France 20 Germany 24 Greece 27 Hungary 32 Ireland 37 Israel 41 Italy 45 Liechtenstein 48 Netherlands 50 Norway 57 Poland 62 Portugal 65 Romania 69 Slovenia 71 3 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA EUROPE, MIDDLE EAST & AFRICA Tax Cards | 2020 The AGN EMEA Tax Surveys of: Index (cont.) Spain 76 Sweden 84 Turkey 86 Ukraine 88 United Kingdom 91 “This publication has been prepared for the purpose of quick information dissemination. Its contents should not be used as a basis for advice or formulating decisions under any circumstances.” AGN International - EMEA 4 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA AUSTRIA 2020 TAX CARD (IN EUROS) Income is taxed on a yearly basis and taxpayers are required to submit tax returns on a self-assessment basis. Subject to bilateral tax treaties, residents are taxed on their worldwide income, whereas non-residents are taxed on their Austrian sourced income. 1. Basis of • taxes on income (income tax and corporation tax) Taxation • Social security contributions (health insurance, pension insurance, unemployment insurance and accident insurance) • Sales (Value added) tax • Income tax on non-residents • Municipal tax, Excise duty) limited taxation on certain sources of income in Austria. In Austria, corporations are independent tax subjects. Therefore a distinction needs shareholder level. 2. Corporate • Tax • A minimum CIT has to be paid from companies in a tax-loss position. The • • a year • Individual Corporation 3. Dividends Withholding Interest Tax Rate (non- treaty) Intra-European regulations, as well as numerous international tax treaties, can signi!cantly reduce or eliminate the withholding taxes indicated above. 5 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Tax assessment base: sum of income - income-related expenses - special expenses - extraordinary burdens - tax-free amounts = tax assessment base Tax rate 4. Resident Above 60.000 up to 90.000 Individual Above 90.000 Other remuneration Tax rate 5. Non- Resident Austria are in principle the same as for persons domiciled in Austria. Individual Tax Rates cases be exempt from all future taxation. Value-added tax Austria. 6. Goods and Liability to VAT is determined by the type of the transactions or products Services tax price of products or services. Each intermediary (manufacturer, retailer, etc.) minus the VAT on inputs paid to his own supplier. 6 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA • • transportation and accommodation. Tax exemptions 6. Goods and • Services tax to deduct input tax remains. (cont) * The most important case are exports to third countries. • * Small business owners * insurance companies * * rentals for business premises the annual amount of turnover. Inheritance and gift tax estate transfer tax has to be paid in the case of an inheritance of a property. Real estate transfer tax • • value is the taxable base for this kind of transfer. A three-fold assessed closest family circle. • 7. Estate duty Property value Tax rate • property value amounts as the standard tax rate. as there is no taxation. 7 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA 8. Stamp duty Are not subject to stamp duty Share transfers 9. Property tax In Austria there is no property tax. Types of form Taxpayer 10. Income tax filing submission via FinanzOnline) deadlines 30th April Companies 30th April tax credit. Under the majority of treaties, however, double taxation is avoided or 11. Double Tax Agreements tax credit. Firm: Multicont Revisions- und Treuhand Gesellschaft m.b.H. Updated: April 2020 Contact: Rainald Maurer | [email protected] | 8 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA BELGIUM 2020 TAX CARD (IN EUROS) Income is taxed on a year basis and taxpayers must submit tax returns on a self- assessment basis. - taxes on income (income and corporate tax); - taxes on expenditure (VAT); - local taxes (property tax, etc.). 1. Basis of Taxation • • Financial year Tax year is the year in which the revenue is taxed. 2. Corporate Tax 9 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Table 2.1 Type of the tax rates Tax rate crisis contribution) Small and medium-sized companies subject to the reduced tax rate subject to the reduced tax rate Table 2.2 2. Corporate Tax rate Tax (cont.) contribution) Table 2.3 Type of the tax rates Tax rate Small and medium-sized companies subject to the reduced tax rate 3 Table 2.4 Tax rate 3 As from1 January 2020, the additional crisis contribution is no longer applicable. Table 3.1 Tax rate Tax rate Dividends Interest 3. Withholding tax rate (non- treaty) Technical fees 6 Directors’ fees 4 Concerns a tolerance of the Belgian tax authorities. 5 Applicable in speci!c cases. 6 Concerns a speci!c Belgian tax regime. 10 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Progressive tax rate 4. Resident and non-resident Tax rate individual tax rates (for Tax Year 2020) 5. Value Added Tax exported to other EU countries) 6. Estate duty Tax rate 7. Stamp duty 8. Registration fees 9. Property Taxes Property tax is based on the cadastral revenue allocated to the immovable property. 11 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Types of Form Deadlines* Individuals Companies 10. Income tax filing deadlines Technical fees Directors’ fees 11. Double Tax double taxation. Agreements (cont.) particulieren/internationaal/internationale_akkoorden Firm: Vyvey & Co Bedrijfsrevisor Updated: 28 January 2020 Contact: Steven Vyvey | [email protected] | 12 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA CYPRUS 2020 TAX CARD (IN EUROS) Income is taxed on a calendar year basis and taxpayers are required to submit tax returns on a self-assessment basis. Subject to bilateral tax treaties, residents are taxed on their worldwide income (subject to exemptions based on domicile) whereas non-residents are taxed on their 1. Basis of Cypriot sourced income. Taxation • taxes on income (income tax and corporation tax) • taxes on expenditure (VAT) • stamp duty • property tax (transfer fees) 2. Corporate Tax same rate as a resident company. Table 3.1 Individual Individual/Corporation Dividends 0 3. Interest 0 Withholding tax rate (non- 0 treaty) property) 0 Technical fees 0 Directors’ fees 0 4. Resident individual tax rates 5. Non resident individual tax rates 13 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA 6. Value added tax exceed € 7. Estate duty Cyprus does not have death or estate taxes. which shall take place in Cyprus, irrespective of the place of the creation of the document. 8. Stamp duty For amounts up to For amounts from For amounts over Immovable property transfer fees are payable by the buyer on the purchase 9. Property tax Transfer fees Up to Types of Form Deadlines 10. Income tax filing Individuals deadlines Companies 11. Double Tax Agreements Firm: Joannides & Co Updated: March 2020 Contact: Kypros Protopapas | [email protected] | 14 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA CZECH REPUBLIC 2020 TAX CARD (IN CZECH CROWNS) Personal Income Tax shall be levied by individuals who have tax residents in Generally, the individuals are liable to declare and pay tax in the Czech from self-employment, rental incomes, investment incomes and capital 1. Basis of Taxation Corporate Income Tax shall be levied by enterprises which have tax resident 2. Corporate Tax Dividends Interest 3. Withholding tax rate (non- treaty) Technical fees Directors’ fees 4.Residential individual tax rates solidarity tax increase is applied monthly on income. Social security and health insurance contributions are paid by both the employer and (see below) 15 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Social security 4. Residential individual tax - Sickness 0 rates (cont.) - Unemployment 0 Health insurance 9,0 VAT Registration and Deregistration Thresholds: • • • • VAT rates: • • • VAT Return Filing Periods: • • VAT Return Filing and Payment Deadlines: • the period end • Filing Periods and Deadlines – other returns: • 5. Goods and Services tax * Monthly VAT payer Monthly • • VAT Control Statement – Filing Periods: • Quarterly VAT payer * Quarterly (individual person) • VAT Control Statement – Filing deadlines: • • 16 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA 6.Road tax 7. Estate tax 8. Stamp duty Real Estate Tax: 9. Real Estate apply for forests, lakes and ponds. For other types of land, the tax is based Tax and Property transfer tax tax purposes. Property Transfer Tax: 10. Energy Taxes obtained from the customs authority. 11. hydrocarbon fuels and lubricants, alcohol and spirits, beer, wine and tobacco Consumption Taxes Types of Form Deadlines Individuals 12. Companies Income tax filing deadlines 17 | Tax Card 2020 - AGN EMEA EUROPE, MIDDLE EAST & AFRICA Country 0 0 0 0 Non-resident corporations and individuals: Non treaty Treaty: Albania Armenia Australia Austria 0 Azerbaijan Bahrain 0 Barbados Belarus Bosnia 0 Brazil 13.
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