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Wolf Theiss Company Fact Sheet
09.02.2012
WOLF THEISS ADVISES H.I.G. AND GREEN BUILDING GROUP ON EXPANSION IN THE SLOVENIAN MARKET
WOLF THEISS advised the private equity fund H.I.G. Europe Capital Partners and Green Building Group GmbH on their investment to acquire the Slovenian market-leader in the prefabricated housing market, Lumar IG d.o.o.
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06.02.2012
MORE STRINGENT VAT REFUND RULES ADVERSELY AFFECT FINANCIAL POSITION OF COMPANIES
As a result of a ruling of the European Court last July, the previous limitation of the VAT law, providing that companies could not claim back part of the positive difference between the payable and deductible VAT which related to their unpaid acquisitions, was annulled. By amending the rules of taxation, legislature has now generalized the rule which is equally adverse to everyone to the effect that one has to wait seventy-five days until the tax authority refunds the reclaimed VAT. Only those can receive their money within a shorter period who have paid off to their suppliers in due course each invoice containing deductable VAT. This stringency measure considerably affects the financial and liquidity position of companies.
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02.02.2012
WOLF THEISS ADVISES U.S. GIANT UNITED STATES STEEL CORPORATION ON THE SALE OF ITS ENTIRE SERBIAN OPERATIONS
WOLF THEISS advised United States Steel Corporation, a major US listed company (NYSE: X), on the sale of its entire Serbian steel-making operations to the Government of the Republic of Serbia.
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30.01.2012
TRANSFER PRICE REGISTRATION 2012: SIMPLIFICATION AND TIGHTENING UP - THE TAX AUTHORITY MIGHT IMPOSE PENALTIES AS HIGH AS 4 MILLION FORINTS
The question of transfer prices is getting increased emphasis both in Hungary and internationally as more than 60% of world trade transactions are made up of inter-company group deals. The adequate pricing of transactions may offer company groups an outstanding opportunity for tax planning; however, the related burdens of documentation involve serious costs. The modifications in force since 1 January 2012 are partly aimed at reducing such burdens even though some rules tend to be more stringent. From now on records must be kept of each transaction and not of each contract, and a company failing to document its inter-company group deals properly may receive a penalty of up to 4 million Forints. Moreover, penalties apply to each record and in the event of repeated default the previous penalty may be quadruplicated.
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30.01.2012
WOLF THEISS UND MICROSOFT VERANSTALTEN FORUM ZUM THEMA "CLOUD COMPUTING"
Im Rahmen des von WOLF THEISS gemeinsam mit Microsoft Österreich organisierten "Cloud Computing Forums" diskutierte ein hochkarätiges Expertenpodium die rechtliche Dimension und wirtschaftliche Relevanz von Cloud Services und deren Bedeutung für österreichische Unternehmen.
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