Summary 393 posts
On 18 October, we were presented with a package of tax law proposals containing a number of tax law changes, including significant changes to corporate income tax and long-term investment accounts, while also aiming to simplify administration and tax obligations. We have summarised the main areas and tax types where taxpayers can expect changes.
Read moreWe\'re getting used to a bunch of IT terms associated with the Hungarian Tax Authority’s innovations: after XML, eVAT and github, M2M is the new buzzword.
Read moreIn the current economic climate, Hungarian businesses are also facing gradually rising energy prices, and are having to pay several times more than they used to for gas and electricity. One way to reduce costs is to invest in energy efficiency, to which the Corporate Tax Act also links a tax allowance.
Read moreRepetitive tasks involved in monthly payroll processing are among the areas where digitisation is critical as it reduces errors and makes it easier to ensure legal compliance and precise timing. Both smaller and larger companies face ever-increasing requirements, and outsourced payroll can boost technology adoption or remotely perform the tasks associated with being a social security disbursement agency.
Read moreAlthough the government\'s efforts had previously pointed towards administrative simplification, new excess profits taxes have been introduced due to external and internal economic factors.
Read moreThe redesigned Széchenyi Card MAX program has been launched and loan applications are now being accepted in Hungary. Loans are available to small and medium-sized enterprises that have no public debt and have been operating for at least one full year.
Read moreA two-and-a-half-fold increase in default fines, a new transfer pricing reporting obligation relating to corporate income tax returns, and changes in the rules pertaining to tax base adjustments. Bill T/360 is expected to have an impact on several aspects of the transfer pricing rules pertaining to related parties, and we are likely to see stricter regulations in this regard.
Read moreSimilarly to 2010, the Hungarian Government has once again decided to impose additional taxes on certain profitable industries in order to support a balanced government budget, to maintain the utility cost reduction and to provide funding for the military.
Read moreAccording to the recently published tax audit plan of the Hungarian Tax Authority, risk analyses based on data from the Online Invoice System will be in focus this year.
Read moreCertain business transactions can be carried out without the actual payment of VAT, yet very few taxpayers seize the opportunity afforded by VAT debt assumption.
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