Summary 407 posts
The OECD\'s guideline on the impact of the COVID-19 virus situation on transfer pricing provides guidance to taxpayers and tax authorities on transfer pricing issues.
Read moreIt is wise to update the rules on the approval and accounting of dividends when preparing the report. It is important for business owners to be aware that the accounting rules for waived dividends were amended in autumn 2020, since the possible decrease in profits in the light of the epidemic situation cannot be rectified by waived dividends.
Read moreIn recent years, there was a fundamental change in the model in which the Hungarian Tax Authority views its own function, its relationship with taxpayers and, last but not least, its role as the key guard of budget revenues.
Read moreThe form in which a property transaction is realized also determines the tax options relating to the property transaction. Let us go through the main characteristics and tax implications of each property sale option.
Read moreThe rules for wage support were amended at the same time as the restrictive measures were introduced in response to the COVID-19 pandemic: additional industries have been added to the wage support scheme, and the advance payment of the support has become available, resulting in potential cash flow benefits for employers. Here are the most important dates and deadlines.
Read moreThere are only a few weeks left and we are going to enter a new age of taxation as of April 2021 in Hungary! Thanks to the Hungarian Tax Authority\'s online invoice reporting system, a new e-invoicing opportunity will open up for a wide range of taxpayers.
Read moreBased on our current understanding, the deadline for publishing the financial statements for 2020 and submitting annual tax returns (for corporate income tax (CIT),innovation contribution, and local business tax (LBT)) is 31 May 2021. As a result, a number of companies are in the middle of their year-end tax calculations, and there are a few typical tax savings opportunities that are worth considering.
Read moreFrom 4 January 2021, the online invoice reporting will extend to almost all invoices issued by domestic companies, including the sales of webshops. According to the latest announcement of the Hungarian Tax Authority, foreign webshops exempted from providing real-time invoice data in case of their sales in Hungary.
Read moreCompanies that use a business year identical with the calendar year must prepare their transfer pricing documentation by the end of May 2021, the latest.
Read moreA substantial change was introduced from 1 January 2021 in the recapitulative statements (M-sheet) to be submitted as part of the VAT return. The change concerns all taxable persons receiving final invoices from domestic partners, which were preceded by an advance invoice and are subject to the reporting obligation.
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