The autumn tax bill has been submitted

The bill amending certain tax laws has been submitted to the Parliament. Although the autumn tax package will not bring about major changes that would fundamentally transform the tax system as a whole or a tax type, it will affect certain categories of taxpayers significantly. Among other things, the filing obligation of sole traders subject to flat-rate taxation will be simplified, small business tax base will be introduced in local business tax, there will be new, favourable rules applicable to fiduciary asset management, and the 5% VAT for residential properties will remain in effect. Another novelty is that information related to corporate income tax will have to be disclosed in the framework of the public Country-by-Country (CbC) reporting, although this will be an actual obligation first in 2025-2026 only.