Summary 222 posts
The draft tax package brings significant changes in terms of real-time invoice data reporting obligations as the HUF 100,000 threshold is removed and the scope of included transactions is significantly expanded.
Read moreAlso as a result of electronic data disclosures – real-time invoice data reporting, EKAER, or online cash register data – the estimated VAT gap in Hungary has decreased considerably in the course of the past 5 years, to 9 per cent in 2018. In the meantime, the scope of tax information possible to be digitally queried from HU TA databases is extended significantly.
Read moreAccording to the Personal Income Tax Act, regarding taxable personal insurance schemes (including both risk or non-risk insurance schemes) that are starting in 2018 but continuing into 2019, it was possible for the employer to pay the premium more favourably than salaries. Regarding insurance years commencing in 2019, this favourable transitional rule can no longer be applied. Accordingly, companies must give due consideration to the conditions under which they can optimise these benefits.
Read moreAt the moment there is no clear single scenario with respect to how the Brexit will evolve (no-deal Brexit, postponing the Brexit, some sort of deal, etc). We think reasonably prudent businesses should start preparing for no-deal Brexit, despite the probability of other scenarios.
Read moreThe Hungarian Tax Authority (NAV) published the missing, but most awaited component (the new XML template /XSD documentation/) of the real-time invoice reporting obligation, Online számla version 2.0 for the last day of August. This template details the future structure in which automated invoicing applications, or ERPs must report data to the tax authority, including the type of data to be included in online invoice data reports.
Read moreFollowing the outage, on the last day of July the interface of NAV Online számla (real-time invoice) featured a new version. However, the long awaited “big score” - the description of the new 2.0 XSD version of online számla - remains yet to be seen, but development on the side of HU TA continues undiminished. Now, real-time invoice moved forward by updating API, a feature facilitating data inquiry.
Read moreOpportunities 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.
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