Summary 421 posts
The European Union\'s new Artificial Intelligence Regulation (AI Act) introduces new challenges and obligations for organizations that use artificial intelligence. The EU AI Act is the first regulation that focuses exclusively on the functioning and impact of artificial intelligence. The goal is to support innovation while simultaneously protecting people.
Read moreThe resolution on dividend is taken once a year when the financial statements are approved and the company\'s supreme body decides on the amount and payment of the dividend. Under the effective legal regulations, the untied retained earnings supplemented by the after-tax profit of the previous business year is considered for the purposes of dividend.
Read moreSAP is one of the most widely used enterprise resource planning software packages in the world, which is used by businesses to enhance the efficiency of various processes and operations. Numerous companies use the different modules of SAP, such as SAP Payroll solutions, to gain a competitive advantage and optimise their operations in Hungary as well.
Read morePreparing financial statements is one of the most complex annually recurring tasks in corporate accounting. The preparation of annual financial statements is not only a legal requirement, but also a key element of corporate transparency. During the closing process, it is essential that all items are processed accurately and in line with the Accounting Act.
Read moreThe implementation of a new ERP system is not merely an IT project, but a complex transformation that affects nearly every operational area of a company. This is especially true when the ERP system is provided by a foreign parent company and needs to be adapted to the Hungarian regulatory environment. The key to a successful implementation lies in thorough planning, well-thought-out processes, and, last but not least, the involvement of appropriate expert support – particularly in the areas of taxation and accounting.
Read moreUnder the Hungarian NIS2 regulation, organizations may also fall within the scope even if the business operation or the number of employees is limited, but the entity’s revenue or sectoral relevance meets the thresholds set out by the legislation. A typical example would be a solar park operator that employs only a few individuals, yet qualifies as a NIS2-regulated entity due to its high turnover or critical role within a key sector.
Read moreFrom 2025, the Hungarian tax authority introduces a new system for imposing late payment penalty: instead of an annual one-time charge, late payment fee is charged monthly on the tax account. This means that the fee on late tax payments is calculated and collected for each month.
Read moreThe focus of company acquisitions is always on the price, but transactions are not solely determined by rational financial decisions. The emotional attitudes, intuitions, and psychological biases of sellers and buyers can significantly influence the process. Let’s take a look at the two main pricing methods and the psychological factors that must be considered for a successful transaction.
Read moreThe 2025 inspection plan of the National Tax and Customs Administration (NAV) outlines the areas that will receive special attention from the tax authority in Hungary. Similar to previous years, targeted inspections are expected based on risk analysis, with particular focus on data reconciliation procedures, preliminary checks of business partners, and high-risk activities.
Read moreThe 2024 personal income tax (PIT) return drafts prepared by the National Tax and Customs Administration (“tax authority”) have been available on the eSZJA platform from 15 March 2025. However, it is crucial for all taxpayers to carefully review and, if necessary, modify their draft return to avoid tax risks and take advantage of tax reduction opportunities provided by law.
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