Summary 380 posts
The special requirements of Hungarian taxation have posed a considerable challenge for the corporate users and developers of invoicing software, particularly of foreign ERP systems. Our summary casts light on the typical problems, as well as their solutions.
Read moreThe e-VAT return proposal of the Hungarian Tax Authority (NAV),based on the obligatory online invoice data reporting, is going to arrive this autumn and will require the increased auditing of companies and targeted contact with them.
Read moreThis year brought a change in the area of labour inspections also. The role of labour authorities was taken over by employment supervision authorities from the beginning of March 2021 and, as a result, labour inspections were replaced by employment supervision audits. Instead of the former labour inspections, employers can now expect employment supervision audits.
Read moreDuring company evaluation, the primary purpose of determining the fair market value is to identify the value drivers of the target company. Today, in addition to the IT companies providing more and more popular subscription-based services, more and more companies active in other sectors are switching partially or fully to solutions based on monthly fees (Nespresso, MOL carsharing services).
Read moreThe corona epidemic posed a major challenge to the Hungarian economy affecting, among others, the income of the young population. However, incentives both within and outside the scope of the tax regime support the improvement of the labour market situation of young people. We gathered information on what employers and young employees may expect below.
Read moreChanges to the rules on teleworking: the agreement of the parties may be more important
Read moreThe regulator is also trying to curb the further surge in raw material prices in the construction sector by administrative means. Export registration, EKAER (Electronic Public Road Trade Control System) notification, extra mining levy and extraction regulations have recently come into force in the recent days.
Read moreThe rules of compulsory strike-off procedures are relaxed from 1 July 2021: in certain cases, companies may request the termination of the procedure with regard fulfilment of the conditions of continued operation of the company.
Read moreThe OSS/IOSS, i.e. the One Stop Shop / Import One Stop Shop system launched on 1 July 2021 supports webshops by allowing them not to register for VAT purposes and file tax returns separately in each member state concerned by their sales.
Read moreFrom 1 July 2021, the rules relating to web shops are amended at EU level. Businesses selling goods and services through web shops should prepare for this in advance to ensure an optimal way of sales and administration. With the right business model companies can, on the one hand, achieve tax savings and, on the other hand, cut administrative burdens. Otherwise, web shops will run a risk and may even expect substantial tax penalties.
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