Summary 216 posts
Opportunities for tax donation from corporate tax were narrowed down on different lines in the last year. From January, sponsoring performing arts organizations is no longer an option and with the acceptance of the summer tax package, the corporate tax top-up obligation is eliminated and, as a result, the relating tax donation also ceases.
Read moreThe key changes of the summer tax package affecting companies include measures designed to create incentives to employment and investment, reduce the administrative burden and also measures arising from the international obligation to harmonise legislation.
Read moreFor nearly a year, in Hungary taxpayers have been required to report their invoices issued to domestic taxpayers in real time, whenever the chargeable VAT exceeds HUF 100,000. What are the most common faults and challenges in the Hungarian online invoice reporting?
Read moreHungary is a popular location for the shooting of Hollywood and international film productions with studios bringing not only staff but also own equipment and requisites for shooting, which require special treatment and customs clearance.
Read moreAbout the most important measures of the summer draft tax package concerning companies, we can say in advance that it will include employment and investment incentives as well as measures deriving from Hungary\'s obligation of international legislative harmonization. Elements of the government\'s intention to reduce red tape and minimize conflicts with European forums also appeared.
Read moreAs from 1 January 2019, the amount of minimum wage is HUF 149,000, and the amount of the guaranteed wage minimum is HUF 195,000 in Hungary.
Read moreA change is coming in online invoice data reporting from 0:00 on 4 June. From this point, the system of HU TA will only accept online invoice data reporting in the new data format, which leaves a few weeks for switching to version 1.1. Failure to submit online invoice data reports may result in a penalty of up to half a million forints per invoice, which may represent an even higher tax penalty risk than the VAT content of the invoice.
Read moreIt is already apparent that this year also brings a number of challenges for taxpayers in relation to real-time invoice reporting. The extension of the deadline for the online invoice version change announced in the beginning of the year until 4 June gives another month to review four areas.
Read moreWhat adjustment factors may and need to be taken into account for the corporate tax calculation to be closed until the end of May? What room do taxpayers have for movement if the amount of corporate tax advance could not be estimated precisely? These questions should be considered as the 31st of May approaches.
Read moreThis year, for the first time, companies are required to prepare their transfer pricing documentation in accordance with the new rules. It will be mandatory to prepare a new, multi-level set of documentation (comprising the master file, the local file and the country-by-country report, where appropriate) simultaneously with the CIT filing.
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