Summary 185 posts
Next year, it is necessary to plan on three working days being shifted, a recently published Finance Ministry decree shows. Together with the long weekend at the beginning of the year and the extra long Christmas break, this means that a total of seven long weekends have to be reckoned on in 2019.
Read moreFollowing a green light from the EU Commission, the level of indirect film related tax rebate in Hungary rises to 30% from 11 June 2018. The boosted proportion of film incentive is guaranteed to 31 December 2024, thus in an ever-more competitive regional situation the Hungarian film industry has a much better chance of maintaining its role as market leader. No changes are expected in the application process for film grants.
Read moreThe Hungarian government introduced its summer tax package on 19th June. The most important proposed changes for 2019 in the field of taxation of individuals and corporations detailed below.
Read moreThe Hungarian Authorities have issued a statement over the weekend that no sanctions will be applied until 31 July if the taxpayer registers for the real-time invoice reporting with the Hungarian Tax Authority and reports the affected invoices online until 31 July 2018.
Read moreThere are only a few days left before the real-time invoice data reporting system goes live yet, according to the recent communications, the Hungarian Tax Authority (HU TA) is still planning to make some \"last minute\" modifications.
Read moreHungarian Tax Authority has confirmed that the online real-time invoice reporting obligation takes effect from 1st of July, 2018.
Read moreAt the time of company or quota sales, sellers have a tax liability (an obligation to pay income tax),let they be private individuals or companies. In connection with purchasing a company or quota, any duty payment obligations and potential subsequent uses of deferred losses must be examined.
Read moreAs you may know from 1 July 2018 the Hungarian Tax Authority (HU TA) expects the real-time invoice reporting (RTIR) to be done in XML file format. The structure of the data file is described by the XSD scheme published by the HU TA.
Read moreThe first step in invoice data reporting is the taxpayer’s registration at the Hungarian Tax Authority (HU TA). Testing of the sending of data can be started in the tax authority’s system after registration. Taxpayers should use this opportunity on the one hand, because the test system of HU TA can do everything that the live system will, which means that potential errors can already be identified at this point and, on the other hand, going live will also be easier for the taxpayer after testing. Every solution the company may choose for the sending of invoice data in the future, registration is a must for both testing and live operation, so let\'s go through this process.
Read moreFrom July 2018, digitalization of the tax authority’s operation is moving to a new level. Similarly to the connection of cash registers to the tax authority’s system, invoicing programs will also support internal automated processes of the Hungarian Tax Authority (HU TA) real-time with electronic messages and grant the tax authority real-time insight into the invoicing of companies. However, the introduction of automated data supply poses more complex technological challenges and comes with potential pitfalls.
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