The following press-release by Ferenc Kölber, a partner in Baker Tilly Hungária, underscores our observation made recently in these columns that finally the profession is growing again in Central Europe. He writes:
Baker Tilly Hungária is pleased to announce recent successful collaboration with member firms. These included a number of payroll, accounting outsourcing, tax advisory and compliance services assignments.
As a result of these tenders, Baker Tilly Hungária reached a milestone of 1,000 people on outsourced payroll. A new payroll outsourcing service for a manufacturing entity of a large international client helped these figures. This client employs 300 staff in Hungary, generating approximately €28,000 in annual revenue for the firm. However, the firm is hoping to soon exceed this milestone with tenders for payroll of 140 and 1,400 staff also underway, the latter is for a client currently being served by Baker Tilly Czech Republic.
Ferenc Kolber of Baker Tilly Hungária also recently led a successful tender for the tax advisory and compliance service for Olajterv, an international oil and gas company, across 24 countries. The development of a strong offering resulted in this substantial win with Poland already transitioned with full scope accounting and payroll services together with tax advisory and work in Libya and Kazakhstan commencing.
Baker Tilly Hungária believes the success of these tenders resulted from the close working relationships and the quality of service delivered by member firms. This has created opportunities for referrals in other countries as well as the ability to participate in larger tenders for international clients.
- Tax change hits holiday homeowners (telegraph.co.uk)
- Baker Tilly: a brave new world of services (dealarchitect.typepad.com)
- Baker Tilly International Reports Revenue Growth of 3% to US$3.3bn (quoracy.com)
- Baker Tilly Slovakia Tax Alert February 2013 (quoracy.com)
- Fiscal cliff won’t stop businesses from hiring, Baker Tilly survey finds (bizjournals.com)
|TAX ALERT | SLOVAKIA
|The most significant changes to the taxation of individuals from the start of year 2013:1. Personal tax allowances for spouse– From 1st January 2013, the spouse allowance is possible to apply only if the spouse living with taxpayer in common household is:
- taking care of a dependent child, or
- receiving a cash allowance for nursing, or
- unemployment registered and is actively seeking a job, or
- considered a disabled individual or a severely disabled individual.2. Tax allowance related to voluntary contributions to II. pillar – until the 31st December 2016 taxpayers may apply as a tax allowance the amount of voluntary contributions to pension, this amount is 2% of the taxpayer´s tax bases from active income, i.e. income from employment and from business. This amount should not exceed 2% of 60-times average monthly salary reported by Statistics Office of the SR two years previously.
3. Tax bonus – the tax bonus should be apply only by taxpayer, who in the period reached 6 times the minimum wage only from active income, i.e. income from employment and from business. The tax bonus should not be applied by taxpayers who earn only rental income.
4. The lump-sum expenses from business income – changes in the implementation of lump-sum expenses in 2013:
821 08 Bratislava
Tel: +421 250 203 302
Head of Accounting Department
Slovak Tax Advisor
821 08 Bratislava
Tel: +421 250 203 304
|Disclaimer: The information contained in this material is general and does not provide a comprehensive analysis of these topics. Despite the fact that we try to ensure the timeliness and accuracy of the information contained in this material, we cannot guarantee that it will still be valid on the date it is read. Therefore users of this information should not base any business or investment decisions on it without first discussing the matter with a professional advisor. Our initial consultation is free.Privacy & Disclaimer Feedback
Baker Tilly Slovakia Accounting s.r.o. and Baker Tilly Slovakia Audit s.r.o. are independent member firms of Baker Tilly International which is the world’s 8th largest accountancy and business advisory network by combined fee income of its independent members. Baker Tilly International member firms specialise in providing accountancy and business advisory services to entrepreneurial, growing businesses and mid-market corporates worldwide.
- Sky High in Slovakia – Latest News, Features, and Reviews (automobilemag.com)
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31 Jan 2013
Baker Tilly International today reported annual revenues of US$3.3bn for the financial year ending 30 June 2012, a year-on-year increase of 3%.
“This is a strong performance in what remains an uncertain trading environment in many markets, and continues our impressive track record of growth over our 25 years of operations,” said Geoff Barnes, CEO and President of Baker Tilly International. “The results were affected by a number of factors including improvement in some mature markets, as well as in a range of developing economies.
“Despite on-going uncertainty and volatility in some markets, especially within the Eurozone, Europe performed well in 2012 with growth across a spread of countries. This contributed to a combined increase of 8% for EMEA.
“In 2012 – as in 2011 – emerging markets were the story. Asia Pacific led the way, reporting a 30% rise in revenues,” said Barnes. “Baker Tilly China was the stand-out performer, in part due to a large increase in the provision of audit-related services in response to the expansion of the Chinese capital markets.
“In Latin America, revenues rose 14% as our member firms responded to a surge in demand for a range of services from both ambitious domestic businesses and international companies looking for opportunities across the region.
“However, we are also excited by the potential in Africa, and continued development in the Middle East. We have welcomed five new members firms to the network last year from these areas. Increased investment – particularly in Africa – is very much on our agenda. We are continually assessing the changes that are occurring in the marketplace to ensure that we have the necessary resources and capabilities in locations that are of strategic importance to the future of our clients.
“We have an ambitious strategy to continue to grow and strengthen our operations across the continent, which is seeing increased activity by multinational businesses looking to capitalise on its enormous potential especially in sectors including the extractive industries, telecommunications and consumer products. They are looking for first class advice and help on the ground, and we are keen to meet that need.”
- Asia Pacific US$0.64bn (+30%)
- Latin America US$0.07bn (+14%)
- Europe, Middle East & Africa US$1.22bn (+8%)
- North America US$1.39bn (-10%)
Service line breakdown:
- Audit US$1.24bn (+8%)
- Accountancy US$0.53bn (+4%)
- Taxation US$0.87bn (+2%)
- Consultancy US$0.68bn (-4%)
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Baker Tilly Klitou sent us this important reminder for those with assets in Romania
With regard to the upcoming year closing, according to the Order 3055 / 2009 for approving the Romanian Accounting Regulations, we kindly inform you that you have to perform an assessment of the tangible assets owned by the company.
Furthermore, according the art. 253 of the Law 571 / 2003 regarding Fiscal code with subsequent changes, the legal entities are required to compute and pay taxes on the buildings owned, as follows:
· between 0,5% and 1,5% of the value of the building, if the owner has performed at least an evaluation of the buildings in the last 3 fiscal years;
· between 10% and 20% of the value of the building, if the owner has not made any evaluation of the buildings in the last 3 fiscal years;
· between 20% and 40% of the value of the building, if the owner has not made any revaluation of buildings in the last 5 fiscal years.
Should you need to perform an evaluation of buildings owned by the company, so that the level of taxes payable by the company for the buildings owned to be ranked between 0,5 and 1,5 of the value of the building, please send your requests back to us to the address info
Baker Tilly Klitou is an independent member of Baker Tilly International which is a global network of high quality, independent accountancy and business services firms, all of whom are committed to providing the best possible service to you, wherever you needs help, in Romania and across the world.
Baker Tilly Klitou is member of Romanian Chartered Accountants Body (CECCAR), member of Romanian Chamber of Tax Advisors (CCFR), member of Romanian Chamber of Auditors (CAFR), as well as member of Romanian Evaluators Association (ANEVAR).
Our team includes qualified professionals able to provide full range of accounting and payroll services, tax consulting, audit as well as evaluation of properties.
Should you need further clarifications regarding the aforementioned information, our consultants are at your disposal.
BEST WISHES FOR A HEALTHY AND PROSPEROUS 2012!
- ROM: Romanians Are Smart (ibelieveinadv.com)
- Romania, FBI agents to crack down on cybercriminals (fmeccawi.wordpress.com)
- Nicolae Buzaianu Learn Romanian (economistultimes.wordpress.com)
- Romanians charged in US with computer fraud (france24.com)
Baker Tilly Klitou sent us their latest Romanian tax alert.
Dear Quoracy.com subscribers,
Please find enclosed Baker Tilly Klitou Tax Alert for the period of August 2011 in English and Romanian language.
The purpose of this Tax Monthly is to inform you about the latest tax legislation changes that could have a major impact on your company’s activity.
In case you need additional information or comments are necessary please do not hesitate to contact us.
If you do not wish to receive further news updates, please let us know or unsubscribe by clicking the link below, at the end of this e-mail.
52, Splaiul Independentei,
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- Baker Tilly Names New Tax Partner (prweb.com)
Baker Tilly International, the eighth largest accountancy network in the world, has just published its latest Global Report on its website:
On that page you will find other country guides and newsletters to help your business ventures around the world.
We applaud the spirit of openness and partnerliness that underlies this free sharing of valuable information.
- Canada Goose (wildplaceswildwords.com)
The following invitation to a free Czech language seminar on annual returns for personal income tax in the Czech Republic comes from the prestigious payroll firm Contract Administration and Baker Tilly Czech Republic. Let your Czech payroll people know about it!
Vážená paní, Vážený pane,
tímto bychom Vás rádi pozvali na náš seminář zaměřený na daň z příjmů fyzických osob a roční zúčtování s důrazem na změny, které v této oblasti nastaly 1. ledna 2011.
Seminář se uskuteční v Praze 26. ledna 2011 a bude prezentován našimi specialistkami na daně a personalistiku.
V příloze naleznete pozvánku s dalšími informacemi. Pokud budete mít zájem, potvrďte prosím svoji účast do 21. ledna 2011.
S přátelským pozdravem,
Head of Tax
Registered Tax Advisor
Baker Tilly Czech Republic
Tel: +420 542 425 823
Fax: +420 542 425 822
- Czech Republic – Factors To Watch on Nov 23 (reuters.com)
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