Welcome to Mazars’ eighth annual Central and Eastern European tax guide. Our main purpose is to provide you with an overview of the tax systems in the CEE region. We strongly believe that this publication will help investors understand the complexities of the various CEE tax regimes, as well as highlight the latest developments and trends characterizing the tax regime of a given country.

The Municipal Court in Prague confirmed the tax administrator’s approach reclassifying marketing services contracted and provided to abroad to ‘consideration received from a third party’. In the court’s opinion, the services were rendered directly to the Czech recipients of the goods. The consideration received from abroad shall thus enter into the tax base of local sales of the goods, and shall be subject to Czech VAT.

With the economic downturn brought about by the COVID-19 pandemic, companies face the challenge of determining whether they should modify their transfer pricing policies. The decision has to be made at a time when comparable data necessary for the analysis are not yet available. At the moment, relying on prior-year data and three-year averages of financial results of comparable companies may not be an appropriate method of setting intra-group prices.

Profitable opportunities exist for wealth managers who can develop unique, personalized services and products and explore untapped opportunities in alternate asset classes outside of stocks and bonds   Despite growing external threats to wealth managers’ businesses, including losses from intergenerational wealth transfers, nearly four in five wealth managers (78%) in Europe and Asia don’t plan significant changes to their traditional business models, according to a new report from Accenture (NYSE: ACN) and Orbium, part of Accenture Wealth Management.