Blog

2017.08.07Tax

Number of reliable taxpayers growing

More than 200 thousand taxpayers may enjoy the benefits coming from having reliable taxpayer status according to latest data of the Hungarian Tax and Customs Authority (NAV). At the same time, however, the number of businesses rated risky increased also on last year’s base. Companies should be aware of the criteria based on which businesses are rated quarterly as some points of the relevant regulation change in the recent period due to amendments of legal regulations.

Dániel Sztankó

2017.06.29Tax

Hungary - new details emerged about the real time invoice reporting requirements from 1 July 2018

New details emerged about the real time invoice reporting requirements due to be introduced in Hungary from 1 July 2018.

Zsolt Kalocsai

2017.06.08CEO Tax

Contribution cut needed for improved competitiveness

Further reduction of contributions would be necessary for the competitiveness of Hungarian companies and wages to be able to improve. For the competitiveness of companies, the most important factors are the availability of properly qualified and sufficient employees and the evolution of the total cost of employment.

RSM Hungary

2017.05.31Tax

Advertisement tax - change in legislation

Effective from 1 July 2017, the advertisement tax rate will be raised from 5.3% to 7.5% for taxpayers with sales revenues from advertising exceeding HUF 100 million. In the period of January to June 2017, the tax rate will be lowered to 0% to avoid the taxation of companies retroactively and to ensure equal treatment of taxpayers. These measures will result in an effective tax rate of 3.75% for the entire year 2017.

Helga Kiss

2017.05.19Legal Tax

New tool for reducing tax evasion – the CbC report requirement takes effect

15th of May marked the proclamation of the legislation that requires businesses to prepare Country-by-Country Report (CbC) reports. Hereby we summarize the most important issues and deadlines impacting Hungarian firms, including when the Hungarian companies need to submit their CbC reports and the obligations of firms whose parent companies are in the United States, which for the moment is a special case, regarding data reporting.

Gábor Fajcsák

2017.05.17Tax

Tax legislation changes in Hungary, 2017

In May 2017, changes in tax legislation has been approved by the Hungarian parliament. The changes have an effect on the corporate income tax, individual income tax and VAT laws.

Dániel Sztankó

2017.05.08Tax

Legislation postponing real time invoice reporting submitted to the Hungarian Parliament

This week a new tax law draft was submitted to the Hungarian Parliament. Among others the real time invoice data reporting and reduction of itemized report threshold from HUF 1 M to HUF K100 are to be postponed, if the draft is accepted by the Parliament.

Dániel Sztankó

2017.04.26VAT

Hungarian realtime invoicing officially postponed to 1 July 2018

Mihaly Varga, minister of National Economy of Hungary has stated in an interview with local newspaper that the online invoice reporting will be postponed until 1 July 2018. According to the statement businesses will be able to test the system as early as 1 July 2017.

Dániel Sztankó

2017.04.13Tax

UPDATE – Changes in the administrative requirements in Hungary from 1st July 2017

Real time reporting of invoices and new threshold of the domestic itemized report - key issues and potential changes for enterprises.

Miklós Héhn

2017.03.20Accounting

New rules of prescribing and accounting of dividend

Although the change has been in force for over a year, those who did no prepare an interim report (for example, because of the payment of dividend advance) are only faced with the relating practical tasks now in the period of preparation of financial statements.

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