Summary 382 posts
The European Union (EU) is committed to closing the gender pay gap and promoting the principle of equal pay for equal work. The new Directive (EU) 2023/970 on wage transparency is part of this intention, to strengthen pay equality between men and women by focusing on pay transparency and enforcement mechanisms.
Read moreThe precise and efficient completion of the M-sheets (domestic recapitulative statement) is vital to avoid the attention of the tax authority. The correct handling of M-forms is of utmost importance, as the tax authority\'s new risk analysis methods are focused on the accuracy of the reported data.
Read moreThe meaning and purpose of the ESG (Environmental, Social & Governance) framework is to ensure that companies operate in a sustainable manner over the long term, while taking into account environmental, social and governance aspects. HR plays a key role in the social pillar of ESG where diversity, equity and inclusion are of paramount importance.
Read moreThe Environmental, Social & Governance (ESG) framework is increasingly playing a significant role in corporate operations and reporting obligations, with one of its goals being to assist in compliance with the European Green Deal. In our blog, we will review what ESG entails, how it impacts various industries, and the requirements imposed by international and domestic regulations. Learn what companies need to prepare for in light of the new reporting standards!
Read moreAccording to the Hungarian Gazette published on 8 July 2024, the rules for the social contribution tax benefits for labour market entrants are becoming stricter. Please find below our summary of the changes companies need to consider regarding social contribution tax (szocho in Hungarian) from 1 August 2024.
Read moreAs of 1 August, the provisions of the Act on the Rules of Taxation on default penalty will be amended. The Hungarian Government, in reference to the war between Russia and Ukraine, doubles the penalty for general default, the failure to report employees, and non-compliance with the obligations to issue invoices, receipts and keep documents.
Read moreIn 2022, significant changes were made to transfer pricing and the preparation of transfer pricing documentation, with a multiplication of the fine and the introduction of a transfer pricing data reporting obligation. Please note that non-compliance with changes entered into force for the 2023 tax year could result in the imposition of multiple default penalties. Based on the experience of the past year, businesses are increasingly likely to face direct transfer pricing audits on transactions with their related parties.
Read moreIFRS 18, which was published in April 2024, represents a significant change in the way entities adopting IFRS will present their financial performance. Companies covered by IFRS will be required to prepare their financial statements using a new structure to make their financial performance more comparable.
Read moreThe issue of cybersecurity is of paramount importance among the new challenges of the digital age. The European Union\'s NIS2 Directive establishes a regulatory framework to protect the EU\'s digital infrastructure by enhancing information security. NIS2 is not just another bureaucratic hurdle, but an opportunity for companies to review and strengthen their IT risk management strategies. How can good risk management help you prepare for NIS2?
Read moreHungarian companies affected by the NIS2 Directive are required to file their NIS2 registration application to the Supervisory Authority of Regulated Activities (SZTFH). Even though thousands of companies in Hungary are affected by the NIS2 Directive, many are not even aware that the new cybersecurity regulation applies to them. If an organization under the NIS2 Directive fails to meet the requirements and deadlines of the NIS2 Directive in Hungary, it may face significant financial consequences: a penalty of up to HUF 50–350 million.
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