If you are a real estate developer or are going to build a family house in Slovakia, your costs may increase due to new “development fee” introduced by the Act No. 447/2015 Coll. on Local Fee for Development and on Amendments and Supplements to Certain Acts (the “Act”). The Act gives the municipalities a right … Continue Reading
The legal rules of real estate acquisition in Hungary differ dependent on whether the acquisition is for arable or non-arable land (residential and commercial properties), by Hungarian residents or non-residents and whether by natural or legal entities. Such diversity in the regulation is due to the fact that real estate is viewed as limited in … Continue Reading
In the Czech Republic, each purchase of real estate is subject to a transfer tax, currently at the rate of 4% of the value of the transferred property. For years, this tax used to be paid by the sellers. However, as of November 1, 2016, the tax obligation has been shifted to the buyers.… Continue Reading
Last Monday (October 31, 2016) turned out to be a black one for non-public investment funds in Poland (i.e. closed-end investment funds known as FIZAN). There was uproar in the business environment and among tax advisors; many could not believe what they had heard. A group of MPs of the ruling party, Law and Justice … Continue Reading
