Tax – Blog | RSM Hungary

2023.06.03Tax

How will the new social contribution tax affect investments in Hungary?

Pursuant to Government Decree No. 205/2023. (V. 31.) published on 31 May in the Official Journal of Hungary, as of 1 July 2023 interest income under the PIT Act – except for interest income from investment units of real estate funds – shall be subject to a 13% social contribution tax (“szocho”) in addition to the 15% personal income tax (PIT) during the state of emergency announced by Government Decree No. 424/2022. (X. 28.). The state of emergency is currently scheduled to last until 26 November 2023, but it cannot be ruled out that it will be extended again.

Mátyás Budai

2023.05.25Digital Tax

Important changes planned by the Hungarian Tax Authority

Ever since the launch of the Online Invoice System, the Hungarian Tax Authority has been implementing both minor and major changes to the platform from time to time. Most recently, a change affecting a large number of businesses was announced by the Tax Authority in January, which was originally planned to go live on 15 May. However, according to the most recent news from the Hungarian Tax Authority, the go-live of the change has been postponed until 18 September. This means that companies that have failed to prepare for the changes involving corrective and cancellation invoices have nearly four more months to get ready

Dániel Sztankó

2023.05.24Tax

Stricter EKAER requirements for certain food products on a temporary basis

Government Decree No. 130/2023. (IV. 18.) issued on 18 April sets out new requirements for the Electronic Trade and Transport Control System (EKAER) and the obligation to provide security which apply to certain so-called sensitive goods. The new Hungarian EKAER requirements are temporary and are effective until 1 July 2023.

János Karczub

2023.03.29Tax

Decree containing detailed transfer pricing rules issued

The decree containing the detailed rules for transfer pricing has been issued without substantial changes*, the draft version of which and the scope of the future transfer pricing reporting obligation were previously presented in our blog. Starting from 2023, taxpayers will be subject to a new reporting obligation regarding their transfer pricing reports, as information on related-party transactions will need to be included as a new element in corporate income tax returns as well. In addition to this new administrative obligation, the threshold for preparing reports has also changed. The most important changes and tasks for companies following the entry into force of the final transfer pricing decree are presented below.

István Falcsik

2023.01.20Tax

The Hungarian waste management system is radically transformed with the introduction of the EPR fee. Companies have 6 months to prepare

In line with EU waste management directives, Hungarian waste management rules are expected to change significantly from July 2023. In addition to the environmental product charge, companies will have to get familiar with a new term, as the extended producer responsibility will affect a wide range of businesses. All companies concerned should prepare in good time for the radical changes in the waste management system.

Gábor Fajcsák

2023.01.06Tax

Tax news of 2023 - Summary of the tax changes coming into force from 2023

The summer and autumn 2022 tax packages will bring important tax changes for companies from 2023. In addition to changes affecting the key tax types – VAT, CIT, LBT, transfer pricing, PIT – let us discuss modifications in other areas of taxation.

Mátyás Budai

2022.11.09Tax

Electronic invoicing and archiving - what's beyond the pile of papers?

The move to electronic invoicing could be the first step in transforming administration. An increasing number of companies prefer contactless payments and paperless invoicing and are looking for e-invoicing solutions that are compatible with teleworking, while automating internal processes and increasing efficiency.

Helga Kiss

2022.11.04Tax

Autumn tax changes 2022 - a summary of the key points of the new tax package

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.

Diána Varga

2022.10.19Tax

This tax allowance can help businesses stay afloat

In 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.

János Karczub

2022.06.27Tax

Transfer pricing: gigantic fines and stricter rules in Hungary

A 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.

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