On 30 December 2024, the Romanian government adopted Emergency Ordinance no. 156/2024 (“the GEO”) regulating a series of important fiscal changes that entered into force starting January 2025, as summarised below.

Law 5162/2024 (“New Law”), which aims to enhance business innovation and competitiveness through tax incentives for investments in start-ups, introduces significant changes in Law 4172/2013 (Income Tax Code) and Law 5038/2023 (Immigration Code) providing substantial benefits and opportunities to Angel Investors.

The Law of Ukraine on Tax Increases №4015-ІХ, adopted by the parliament and awaiting presidential signature, came into effect on November 30, 2024. Below are the key changes to the taxation system.

On December 7, 2023, Austria saw a significant shift in its tax regulations with the suspension of key provisions in the double taxation agreement (DTA) with Russia.

As of December 14, 2022, the Tax Administration of the Republic of Serbia started passing temporary tax decisions imposing payment of individual income tax based on agreed remuneration for the copyright and related rights and agreed remuneration for performed work with contributions for mandatory social insurance. These decisions targeted both Serbian and foreign citizens who made a profit abroad and transferred it to bank accounts in the Republic of Serbia during 2017 and 2018. For the first time in the country’s tax practice, tax liability was assessed automatically by passing temporary tax decisions, without conducting tax proceedings.

One of the sectors contributing the most to the Hungarian GDP is tourism, with nearly 16 million guests spending more than 41 million overnight stays in Hungary in 2023. According to the data of the Hungarian Central Statistical Office, foreign tourists spent 11,866,669 overnight stays in Hungary in 2023, of which 59.20% chose hotels, 32.36% stayed overnight in private and other accommodations, and 8.44% chose community accommodations.