Summary 388 posts
We summarized briefly the main government measures that aimed to curb the negative business effects of COVID-19 in the CEE region countries: Hungary, Poland, Czech, and Slovak Republic.
Read moreMore than 300,000 Hungarian companies have been reporting their invoice data to the NAV online invoice reporting system for almost two years. From 1 July, this scope will be further expanded, all invoices issued between domestic business partners will be required to provide online invoice data, regardless of the VAT amount of the invoice, the reporting threshold will be reduced to zero. The expansion of the M-form obligation related to purchases can also be a nightmare for accountants.
Read moreAfter a seemingly long wait for professionals, the decree was promulgated postponing the annual tax liabilities of companies and the publication of the report in view of the coronavirus epidemic until 30 September 2020. It is worth considering what is affected by the postponement and what is the best decision for the company!
Read moreThe new conditions for wage subsidies are more favourable, facilitation of deadlines in respect of reporting and taxation, SZÉP card changes and confirmation of social contribution tax (”szocho”) rate reduction. These are, among others, the latest regulations to mitigate the economic effects of the coronavirus.
Read moreAs part of the Action Plan to protect the Hungarian economy, new measures have been introduced in Hungary to preserve R&D workers’ workplaces. The government measures relate to the coronavirus pandemic, and take the form of a wage subsidy available for employers. The measures are applicable as of 15 April 2020, and businesses in various sectors could take advantage of them, such as IT and software development companies, pharmaceuticals, chemical companies, companies in the financial sector and manufacturers.
Read moreIn order to reduce the negativ economic impacts of COVID-19 crisis, Hungarian government announced new measures: net wage subsidy, tax and administrative reliefs, and introduced retail tax.
Read moreCompany proceedings, property sale and purchase contracts: almost everyone automatically remembers that an attorney is necessary for these procedures and the signature typically takes place in the office of the legal representative. Many are unaware, however, that company foundation and company transformation processes and even sales and purchases of property requiring attorney counter-signature can be carried out electronically without personally seeing the attorney.
Read moreTracking rapid global stimulus legislation
Read moreThe use of the NAV Online Invoice 2.0 version will not be a must from 1 April 2020 in online invoice data reporting. The deadline for the introduction of the new schema was extended by NAV until 1 July with regard to the extraordinary situation arising due to the COVID-19 epidemic.
Read moreOn 23 March 2020, the Government of Hungary has announced the implementation of new tax relief measures to curb the negative effects of COVID-19 crisis on the Hungarian economy as follows.
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