Newsflash - Issue 02 - Possible changes in the taxation of meal allowance in the FBiH
- Possible changes in the taxation of meal allowance in the FBiH - Changes to the Criminal Law of Bosnia and Herzegovina - Double Taxation Treaty between Bosnia and Herzegovina and Estonia has been initialed
In the sitting of 27 May 2010 the House of Peoples of the Parliament of the Federation of Bosnia and Herzegovina adopted a proposal to subject to personal income tax daily allowances for hot meals in excess of 1% of the average FBiH salary and to apply the relevant social security contributions. The House of Representatives of the Parliament of the Federation of Bosnia and Herzegovina should vote on this proposal, and, should it adopt the proposal, the taxation of hot meal allowances according to new rules would come into force.
Transfer pricing provisions have been included in taxation legislation of both BiH entities prior to the recent reform of direct taxes. However, after the recently implemented reform, as well as the market growth and an increase in the volume of international transactions, transfer pricing is becoming an increasingly important topic for both taxpayers and local Tax Authorities.
We have pleasure in inviting you to KPMG’s seminar "Transfer pricing – practical approach" that will take place at the Business center UNITIC, Meeting room number 8 on 17 December 2009 from 9 am until 11:30 am
KPMG International’s 2009 Corporate and Indirect Tax Rate Survey illustrates a milestone in global tax policy, as governments – driven by the need for more revenue – are implementing proactive measures to increase the tax take from both indirect taxes and the tax base for corporate income taxes.
KPMG’s report on key transfer pricing issues as the world emerges from recession can help tax departments appreciate the longer-term and global perspective necessary to achieving results today and exploiting change beyond the current climate for enduring benefit. A collection of articles from leading transfer pricing professionals at KPMG member firms, the report highlights the need to take a careful look at the guidance from tax authorities, as well as current practices, in order to redraw transfer pricing policies in the new and different economic environment.
