Summary 407 posts
A two-and-a-half-fold increase in default fines, a new transfer pricing reporting obligation relating to corporate income tax returns, and changes in the rules pertaining to tax base adjustments. Bill T/360 is expected to have an impact on several aspects of the transfer pricing rules pertaining to related parties, and we are likely to see stricter regulations in this regard.
Read moreSimilarly to 2010, the Hungarian Government has once again decided to impose additional taxes on certain profitable industries in order to support a balanced government budget, to maintain the utility cost reduction and to provide funding for the military.
Read moreAccording to the recently published tax audit plan of the Hungarian Tax Authority, risk analyses based on data from the Online Invoice System will be in focus this year.
Read moreCertain business transactions can be carried out without the actual payment of VAT, yet very few taxpayers seize the opportunity afforded by VAT debt assumption.
Read moreAre there significant costs reallocated within the company or group? As these also affect the company s VAT position, it is important to manage costs properly. Developing a proper practice with a view to the VAT is an important aspect from the start, however, VAT risks can still be reduced if the company chooses to change its cost reallocation methodology on the fly.
Read moreReporting is a recurring task that companies subject to the reporting obligation must perform routinely but never mechanically. The reporting obligation applies in many cases, in addition to the annual reports, and many processes are the same as the tasks performed as part of the annual reporting. The following summary focuses on these main tasks.
Read moreRepresentatives of some foreign companies often contact us asking about the foundation of a company in Hungary. Last time, we had a meeting in the morning, and the next working day, we presented the documents of a limited liability company with court registration and a bank account to our partner. Of course, starting a company is not always as fast as that. It requires preparation and quick decision by the client.
Read moreNowadays, it is common for Hungarian workers to work abroad as part of an international work schedule. With the coronavirus pandemic though, many workers have returned to Hungary to work remotely. For them, it is definitely worth reviewing the taxes applicable to wages received from abroad. On one hand, they may face a taxation risk if they pay the personal income tax abroad, and the Hungarian personal income tax can be more favourable for them even than the one paid abroad.
Read moreIn the second part of our blog series, we discuss the tax benefits available in connection with the corporate income tax. We will highlight common mistakes that may involve risks during a tax audit, so that you can avoid being found to have unlawfully used a tax relief.
Read moreA number of taxation changes will be introduced from January, including VAT, tax planning, corporate income tax (CIT),personal income tax (PIT),small business tax (KIVA),social contribution tax or local business tax (LBT),so companies will have a lot to think about. Here is an overview of the tax related changes important for companies that will take effect from 2022.
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