Summary 407 posts
New details emerged about the real time invoice reporting requirements due to be introduced in Hungary from 1 July 2018.
Read moreFurther 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.
Read moreEffective 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.
Read more15th 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.
Read moreIn 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.
Read moreThis 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.
Read moreMihaly 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.
Read moreReal time reporting of invoices and new threshold of the domestic itemized report - key issues and potential changes for enterprises.
Read moreAlthough 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.
Read moreLeading audit, tax and consulting network, RSM, has reported growth in global fee income of 7.6% for the year ending 31 December 2016. Total fee income for the period increased to US$4.87billion.
Read more
