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Who should choose group taxation?

Based on the adopted tax laws for the coming year, Hungary will join a number of European countries with a modern tax system, where group taxation is also available with regard to direct taxes, in addition to the VAT. From the 2019 tax year, it will be possible also in Hungary to choose group corporate taxation, which can be notified to the Tax Authority in the first two weeks of January. Let us see who should choose this and what aspects should be considered in the next two months?

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Online invoice reporting mission: accomplished!

The NAV real time invoice reporting process launched in July was like a competition where the contestants tried to complete the racetrack in \"vehicles\" purchased off the shelf or developed and built by themselves. The June test period was prolonged by a useful leniency month, thus all entities were required to come up to par by 31 July while continuous compliance has been mandatory since 1 August.

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Level of film rebate for Hungarian production increases to 30 percent

Following 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.

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No sanctions period until July 31 for RTIR

The 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.

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