Summary 193 posts
However, despite these reliefs, the Hungarian Tax and Customs Authority (NAV) may audit these taxpayers more frequently. Both the audit practice of the tax authority and the communication relating to the drafts of next year’s tax laws suggest enhanced audits of these enterprises in respect of the records prescribed by the Hungarian Act on Accounting.
Read moreA recent amendment of the relevant tax legislation (published on the 27th of June) has introduced an additional payment liability. Taxpayers include marketing licensees of medical products or their distributors.
Read moreOne should always pay attention to the decisions of the EU Court of Justice. Recently, for instance, the European Court of Justice made a decision in two joined Hungarian cases providing a clearly defined framework for the former standpoint and practice of the Hungarian tax authority in respect of the exercising of the right of VAT deduction. The court in Luxembourg also made decisions in other disputes, which elevate the partnership between taxpayers and tax authorities to a higher professional level – provided, of course, that the tax authority is also open, prepared and willing to act as a partner.
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