Summary 402 posts
The basic aim of the renewal of the rules of tax administration is for the tax authority to provide a client-focused service and to help taxpayers in the fulfilment of their tax obligations. Instead of a uniform code-like regulation, from 2018 multiple acts will specify the rights and obligations taxpayers and tax authorities have in specific tax matters.
Read moreThere are several points where it is possible to trip up when fulfilling the country-by-country reporting obligation per country. The first deadline is the end of the year for both of the 2016 and 2017 reporting obligations!
Read moreAs one of the side effects of digital development, it became apparent this year that the total sum of the one percent donations offered for NGOs declined in parallel with the successful introduction of e-personal income tax. However, there was no change in corporate donations and their tax relief, so it is worth considering this before the end of the year!
Read moreThe Decree of the Minister of National Economy on the work schedules around non-working days is in force from 1 January 2018 but has already been made public. The decree shows that we will have plenty of long weekends next year also but, unlike this year, a part of these will be compensated by moved working days.
Read moreOn 5 December 2017, the Council adopted new rules making it easier for online businesses to comply with VAT obligations.
Read moreCompanies often underestimate the quantity of data they accumulated about their buyers, customers. This also means that they underestimate the significance and potential consequences of the introduction of the new General Data Protection Regulation (GDPR).
Read moreThe matter of the registration of foreign managers has become clearer in relation to the use of the company portal “Cégkapu” that companies will be obliged to use from 1 January 2018. It is now clear what tasks have to be fulfilled using the Cégkapu portal and where companies not yet registered or already registered can get more information regarding the operation of the portal.
Read moreThe VAT Act maximizes the period during which input tax can be deducted without self-revision in two years. The regulation entered into force in the beginning of 2016 which means that this year-end will be the first turning point in respect of the deductibility of tax.
Read moreIn a previous post, we gave an overview of possible methods of acquisitions (share, asset or division purchase) and the primary business issues arising in case of each of the alternatives. Choosing from these methods, although a business decision, obviously leads to different legal consequences.
Read moreAs you may know Hungary plans to introduce real time invoice reporting obligation from 1 July 2018. Any Hungarian VAT registered entity that issues invoices with a VAT amount above HUF 100,000 (approx. EUR 320) to another entity VAT registered in Hungary will be required to report these invoices “without delay, but within 24 hours at latest” to the Hungarian Tax Authority (HU TA). This includes businesses established outside Hungary but registered for VAT in Hungary. According to the current law draft failure to report the invoices in real time mode may attract administrative penalty of up to HUF 500,000 (EUR 1700) / invoice.
Read more
