TAX LAW CHANGES 2021

9.

Accounting rules

In the case of capital increases at premium, the accounting dates of the share capital increase and the capital reserve increase have been brought into line.

The dividends payable, but not distributed and waived by the owners, should be recognized directly as increase of retained earnings.

The scope of economic events to be accounted for on a net basis and disclosed in a financial report either within Other expenses, or Other income has been extended which means a further simplification of the accounting rules.  

In the case of company transformations, the tax liabilities arising as an immediate consequence of the transformation should be provided for in the books of successor.

The disclosure deadline for the companies listed on the EU stock exchanges, has been set up for the last day of the fourth month following the reporting date for both standalone and consolidated (group) financial reports, which is in line with the EU capital market rules.

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