Blog

2021.03.17Consultancy

Consider the tax benefits you are entitled to claim in your corporate income tax and local business tax returns in Hungary

Based on our current understanding, the deadline for publishing the financial statements for 2020 and submitting annual tax returns (for corporate income tax (CIT),innovation contribution, and local business tax (LBT)) is 31 May 2021. As a result, a number of companies are in the middle of their year-end tax calculations, and there are a few typical tax savings opportunities that are worth considering.

Lilla Németh

2021.03.04Digital

Webshops and Hungarian real-time invoice reporting in 2021

From 4 January 2021, the online invoice reporting will extend to almost all invoices issued by domestic companies, including the sales of webshops. According to the latest announcement of the Hungarian Tax Authority, foreign webshops exempted from providing real-time invoice data in case of their sales in Hungary.

János Karczub

2021.03.01Tax

The deadline for transfer pricing documentation is getting close in Hungary

Companies that use a business year identical with the calendar year must prepare their transfer pricing documentation by the end of May 2021, the latest.

Lilla Németh

2021.02.22Digital

Change in VAT-returns from 20 February!

A substantial change was introduced from 1 January 2021 in the recapitulative statements (M-sheet) to be submitted as part of the VAT return. The change concerns all taxable persons receiving final invoices from domestic partners, which were preceded by an advance invoice and are subject to the reporting obligation.

Lilla Németh

2021.02.09Digital Tax

Online invoice data reporting step-by-step

From January 2021, the scope of invoices concerned by online invoice data reporting was extended to include all taxable persons issuing invoices under Hungarian tax numbers.

Levente Almási

2021.02.05Real Estate

How to set selling Real Estate or implementing a Real Estate transaction?

The experts of RSM Real Estate Desk believe that there are a few important steps that real estate owners who wish to complete a successful real estate transaction should keep in mind when setting about selling their property.

Diána Varga

2021.02.03Consultancy

Local Business Tax reliefs for SMEs in 2021 in Hungary

In relation to the fiscal year of 2021, LBT reliefs are applicable for SMEs if their revenue or balance sheet do not exceed HUF 4 billion. Except for the 3.000 largest firms, every company is affected; the claims shall be submitted until 25 of February to the Hungarian Tax Authority.

Edina Pentz

2021.01.29Payroll

Minimum wage and guaranteed wage minimum in Hungary 2021

As from 1 February 2021, the amount of minimum wage is HUF 167,400 and the amount of the guaranteed wage minimum is HUF 219,000 in Hungary.

Edina Pentz

2021.01.15Payroll

Payroll-related changes in Hungary, 2021

Every year begins with routine checks and an overview of changes, and the area of payroll is no exception. In January 2021, Hungarian companies and employers need to be aware of changes in payroll-related regulations, including personal income tax, social contribution tax and sick pay.

Gábor Fajcsák

2021.01.13Tax

Tax changes in 2021 – How to pay tax in 2021

A number of tax changes entered into force in January in terms of NAV online invoicing, VAT, tax planning, corporate tax, personal income tax, small business tax (kiva),fixed-rate tax of low tax-bracket enterprises (kata),social contribution tax and local business tax, and companies have a lot to pay attention to.

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