Summary 376 posts
The shooting of The Alienist, nominated in two categories at the 2019 Golden Globes, and Genius: Picasso, nominated in the category for best actor, both took place in Hungary. How does the Corporate Income Tax (TAO) system in Hungary assist in raising the funds to cover film production costs and what role does the comfort letter have in the planning and raising the funds to cover the costs of film production?
Read moreThe first result figures of the six months since the launch of the online invoice reporting system confirm that the real-time invoice data reporting service met expectations in terms of improving the efficiency of VAT collection. The Hungarian tax authority is able to identify fraudulent businesses almost immediately and in an automated manner relying on the data submitted through the solutions provided by the companies obliged to report data and their service providers.
Read moreChanges will be introduced regarding electronic contract keeping and the use of the company public administration portal \"cégkapu\" from 2019. Obliged companies will need to pay attention to the following when using \"cégkapu\" from January.
Read moreBased on the adopted tax laws for the coming year, Hungary will join a number of European countries with a modern tax system, where group taxation is also available with regard to direct taxes, in addition to the VAT. From the 2019 tax year, it will be possible also in Hungary to choose group corporate taxation, which can be notified to the Tax Authority in the first two weeks of January. Let us see who should choose this and what aspects should be considered in the next two months?
Read moreThe autumn tax package has passed by the Hungarian Parliament on 13 November 2018. Below we summarise the most important amendments affecting the corporate income tax, tax administration, and foreclosure procedures.
Read moreFrom the amendments included in the autumn tax package, we discuss the key points of VAT on vouchers, new flats, and leasing and the rules of personal income tax, social security, social contribution tax, small taxpayers\' itemized lump sum tax (\"KATA\") and customs duty below.
Read moreThe NAV real time invoice reporting process launched in July was like a competition where the contestants tried to complete the racetrack in \"vehicles\" purchased off the shelf or developed and built by themselves. The June test period was prolonged by a useful leniency month, thus all entities were required to come up to par by 31 July while continuous compliance has been mandatory since 1 August.
Read moreNext year, it is necessary to plan on three working days being shifted, a recently published Finance Ministry decree shows. Together with the long weekend at the beginning of the year and the extra long Christmas break, this means that a total of seven long weekends have to be reckoned on in 2019.
Read moreFollowing a green light from the EU Commission, the level of indirect film related tax rebate in Hungary rises to 30% from 11 June 2018. The boosted proportion of film incentive is guaranteed to 31 December 2024, thus in an ever-more competitive regional situation the Hungarian film industry has a much better chance of maintaining its role as market leader. No changes are expected in the application process for film grants.
Read moreThe Hungarian government introduced its summer tax package on 19th June. The most important proposed changes for 2019 in the field of taxation of individuals and corporations detailed below.
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