CMS Croatia Partner Tamara Jelic Kazic and CMS Poland Managing Partner Andrzej Posniak discuss the complexities and opportunities inherent to the region’s tax landscape.
CEELM: Broadly speaking, how would you characterize tax regimes in CEE to anyone looking into the region?
Jelic Kazic: In the southern part of CEE, which includes ex-Yugoslavia countries, we observe a diverse and complex tax environment. Each jurisdiction has its unique characteristics, but there’s a growing trend toward harmonizing with global standards, particularly those set by the EU and the OECD. Despite efforts to align with these standards, there are still notable differences among member states, especially since some are EU members while others are still awaiting membership. This diversity in tax regulations can pose challenges for investors navigating the region.
At a regional level, this complexity becomes apparent in even more aspects – population, linguistic diversity, economic development levels, and GDP growth rates often lead to diverse expectations and complexities.
