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Latest news and blogposts

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Significant changes in the Accounting Act from 2016

The latest amendment of the Accounting Act is now waiting for adoption in Parliament, which will presumably take place at the end of June. The related government decree is expected to be issued in the second half of the year, while other legal amendments are to enter into force from the financial year starting 1 January 2016. The most important modifications include changes in...
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Tax laws to be amended: land tax, local business tax (hipa), company car tax, public health product tax (neta), duty, social security (tb) and social contribution tax (szocho)

Land tax From 1 January 2017, the proposal would change the definition of real estate exempt from land tax. This means that the local tax obligations relating to this definition integrated, from a legal technical point of view, into the interpreting provisions of the act will receive stricter regulation. According to the proposal, plots of land located within city limits that...
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Global trends in renewable energy

Historically, the incremental development and high costs of renewable energy discouraged the rapid expansion of that industry. But recent shifts in the commercial and technological landscape signal a transformative moment for renewable energy, which now presents a credible challenge to fossil fuels in the competition for global investment. Investments in renewable energy As...
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Corporate tax changes

In relation to the Act on Corporate Tax and Dividend Tax (the Corporate Tax Act), the proposal would fundamentally change the definition of royalty with effect from 1 July 2016. The change would narrow down the scope of the definition. According to the proposal, royalty means results deriving from the following: patent, utility model, plant variety right, ...
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Briefly on the changes expected in the VAT Act

On 3 May, bill no. T/10537 was submitted to the Parliament proposing changes concerning VAT with effect from this year, 2017 and 2018. At this stage, the bill is only a draft, we should nonetheless discuss it briefly as it gives us an insight into the direction of the changes. Changes in VAT rates The bill proposes VAT rate changes in a number of areas. Basic foods ...
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