2014 Tax Guildeline for Central & Eastern Europe

2014 TAX GUIDELINE for Central & Eastern Europe Poland Slovakia Capital: Language: Slovak Currency: Population: 5,4 million GDP Growth: Bratislava Capital: Language: Currency: Population: 38,5 million Warsaw 2,8% Polish Euro PLN *2013 Area: 312 679 sgkm Area: 49 036 sgkm GDP Growth: 0,9% GDP Czech Republic Growth: *2013 Capital: Language: Currency: Population: 10,5 million Prague -1,3% Czech Romania CZK *Q2/2013 Capital: Language: Currency: Population: 20,1 million Bucharest Area: 78 864 sgkm Romanian RON GDP Growth: Area: 238 391 sqkm 1% Hungary Capital: Language: Currency: Population: 9,9 million *2013 GDP Growth: Budapest Hungarian 3% HUF Area: 93 030 sgkm *2013 Corporate & Personal Income Tax 22% 19% 19% 19% 16% CIT PIT 16% 15% 16% 18% 19% CIT tax rate 10% 32% PIT tax rate 25% PIT rax rate for taxable base lower than when yearly income exceeds when yearly income exceeds 1736 666€ 20 000€ 32 022€ Value Added Tax 20% 21% 23% 24% 27% Slovakia Czech Poland Romania Hungary Republic Social & Health Security 22,7% Poland Employee 19,5 - 22,7% Romania 16,5% Employer basic rate 27,8 - 28,5% Hungary 18,5% Employer maximum rate 28,5% 11% Czech Republic 34% 13,4% Slovakia 35,2% Advantages of Investments CIT rate only 10%. Development benefits for significant investments. Research and development benefits for eligible entities. Tax incentives for royalty income. Tax benefits for film MANIA ROMANIA ROM NIA ROMANIA ROMANIA ROMANIA ROMANIA ROMA MANIA ROMANIA ROMANIAR ROMANIA ROMANIA ROMAN MANIA ROMANIA ROMANIA ROM. >ROMANIA ROMAIA ROMANIA * ROMANIA OMANIA ROM NIA ROM CIT flat rate 19% Very good geographical position & infrastructure. Highly educated & skilled workforce. POLAND POLAND POLANI POLAND POLAND POLAND PO AND POLAND POLAND POLAND POLAND POLAND POLAND POLAND POLAND POLAND OLAND POLAND POLAND POLAND ROLAND POLAND POLAND POL AND POLAN Low labour costs compared to ID POLAN western countries. production companies, sport organisations etc. Safe investment enviroment. Transparent system of investment incentives. CIT flat rate 16%. Strong consumer market. Highly educated employees. 5% reduced VAT for real estate Lowest VAT rate. 19% CIT rate. Stable economic growth. One of the strongest consumer markets in the Europe. Highly educated & skilled workforce. No real estate transfer tax. General tax-free allowance. The private sector contributes transactions under specific conditions. 50% supplementary deduction for CIT tax purposes applicable to eligible R&D activities. PIT exceptions for IT programmers under certain conditions. HUNGARY HU HUNGARY HUNGA UNGARY HUNGARY Y HUNGARY HUN Main comunication routs. CZECH R. CHR. CZECHR. czE CZECH R. CZECH R. Wide range of investment incentives - 14 special zones. Highly educated & skilled workforce. app. 80% to the GDP. Very good geographical position. EU subsides for companies. Tax losses. EU subsides for the companies Company Minimal Capital 72 930€ 69 462€ Limited liability company Public joint stock company Closed company limited by shares 25 000€ 25 000€ 24 000€ 17 365€ 5 000€ 1737€ 1200€ 45€ 1€ Czech Republic Hungary Poland Romania Slovakia Find more information about CEE taxation system, legal forms of business, social security & labour law aspects in our complete 2014 Tax Guideline for Central & Eastern Europe at: .:accace www.accace.com