Are you planning or organizing a concert, tour, show or other performance in Hungary but uncertain whether you comply with all the relevant legal regulations and tax administration requirements? With its Concerts & Shows services, RSM provides its partners with a comprehensive professional support - tax consulting and relating administrative services - in order to mitigate such risks.
The music and entertainment industry is booming in Hungary. A huge number of foreign musicians, performers and artistic productions perform at various cultural events throughout the country. Musicians, performers and their agents are not necessarily familiar with local deadlines, tax return filing obligations and the changing Hungarian regulatory environment, which however, does not relieve them from fulfilment of their administrative and tax obligations. Tax complexities of the contracts in this industry not only expose performers to potential risks but, in many cases, concert and event organizers as well. Our experienced experts are happy to relieve concert organizers and tour managers from the burden of managing these administrative and tax risks.
Who may we help?
- Foreign performing artists (musicians, bands, dancers etc.)
- Participants and performers in domestic entertainment shows
- Agents and managers of performers and shows
- Concert organizing companies
- Other organizations and organizers making payments to performers
How can we help?
- Preliminary advisory service and consulting in relation to Hungarian shows
- Assessment of the Hungarian tax status of performers
- Determining of the tax obligations relating to the incomes acquired
- Identification of tax planning opportunities, selection of the most optimal method of taxing
- Determining the tax treatment of royalties
- Comprehensive tax administration of the employment and Hungarian activities of foreign performers and bands
- Requesting of a tax ID, tax number and social security (TAJ) number if necessary
- Fulfilment of payroll tasks and administration of other benefits and cost reimbursements
- Taking care of the tax administration necessary for the fulfilment of the tax advance obligations relating to foreign performers paid by concert organizers qualifying as payer/disbursers
- Calculation of taxes and contributions payable, providing payment instructions to payables due
- Preparation, filing and following up of necessary tax returns
- Requesting income certificates for foreign performers based on their Hungarian income and the taxes paid; supporting their foreign accountants in the preparation of their tax returns to be filed in their home country
- Planning, drafting and reviewing contracts relating to Hungarian shows from a tax perspective, recommendations for the ideal form of contract
- Comprehensive representation in front of competent authorities (during audits, in front of authorities and in court)