Transaction tax brings significant changes that will affect the financial operations of individuals – entrepreneurs and legal entities. To help you prepare for these changes in advance, here is an overview of the most important information.
The FTT is a new tax that will apply to the most financial transactions carried out by businesses and selected legal entities .
According to the law, this tax applies to payments provided by payment service providers (such as Banks) on behalf of the taxpayer. The main taxable transactions include:
The following are considered tax payers:
Payment service providers will be consideredas tax payers and will automatically collect the tax on taxable transactions.
According to the law, two rates of FTT will be applied:
For each bank card used at least once in the tax year, a flat-rate tax of €2 per year will be applied .
– Review your financial operations – analyse what transactions you do most often and what is their impact to your business.
– Reduce your business accounts – consider merging some accounts to minimise the number of taxable transactions .
– Consulting with professionals – contact our accounting team for a detailed analysis and strategy.
The introduction of the FTT represents a significant legislative change that requires strong preparation. We recommend that businesses should carefully analyse their financial operations and minimise the costs associated with the new tax.
Our accounting team is ready to assist you in understanding the new rules and implement them into your business.
Our expertise is applied to every step of the process. We offer comprehensive services in tax, accounting, audit, and law, tailoring every aspect to fit your business needs.
Our goal is to provide you with stability, transparency, and success in an ever-evolving business environment.
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Digitisation will save you time, simplify processes and give you a better overview of your business. Prepare for the future today.
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