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Summary 365 posts

RSM Hungary – Audit | Tax | Advisory
RSM Hungary
Tax

Advertisement tax - change in legislation

Effective from 1 July 2017, the advertisement tax rate will be raised from 5.3% to 7.5% for taxpayers with sales revenues from advertising exceeding HUF 100 million. In the period of January to June 2017, the tax rate will be lowered to 0% to avoid the taxation of companies retroactively and to ensure equal treatment of taxpayers. These measures will result in an effective tax rate of 3.75% for the entire year 2017.

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New tool for reducing tax evasion – the CbC report requirement takes effect

15th of May marked the proclamation of the legislation that requires businesses to prepare Country-by-Country Report (CbC) reports. Hereby we summarize the most important issues and deadlines impacting Hungarian firms, including when the Hungarian companies need to submit their CbC reports and the obligations of firms whose parent companies are in the United States, which for the moment is a special case, regarding data reporting.

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New rules of prescribing and accounting of dividend

Although the change has been in force for over a year, those who did no prepare an interim report (for example, because of the payment of dividend advance) are only faced with the relating practical tasks now in the period of preparation of financial statements.

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Strong brand drives growth for RSM

Leading audit, tax and consulting network, RSM, has reported growth in global fee income of 7.6% for the year ending 31 December 2016. Total fee income for the period increased to US$4.87billion.

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Company acquisition, but how? Share, asset or division purchase?

If a seller starts negotiations for the sale of its company, the first thing to clarify is what the subject matter and the proposed structure of the transaction is. In this regard, there are generally three basic solutions that should be considered; the options of a share deal, an asset deal or a division transfer.

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The UK leaves the customs union – „Hard” Brexit

In her last speech on the termination of the EU membership of the United Kingdom, Prime Minister Theresa May said she envisaged full departure from the EU and did not intend to keep certain elements of EU membership. „We do not seek to adopt a model already enjoyed by other countries. We do not seek to hold on to bits of membership as we leave.”

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