József Vizer

First deadline of the innovation contribution advance payment approaching!

From 2019, only those enterprises are exempt from the obligation to pay innovation contribution, which, taking all provisions of the SME Act into...
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Brexit guide for UK companies operating in Hungary

At the moment there is no clear single scenario with respect to how the Brexit will evolve (no-deal Brexit, postponing the Brexit, some sort of deal, etc). We think reasonably prudent businesses should start preparing for no-deal Brexit, despite the probability of other scenarios.

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New social contribution tax law from 2019

The new Act on Social Contribution Tax entering into force from 2019 is novel relative to former regulation in terms of the integration of health contribution and the transformation of the system of allowances. Companies should pay special attention to four things in relation to social contribution tax: which allowances based on former rules they can continue to make use of, which ones they can apply according to the new rules, which ones are eliminated and which allowances can be applied on a retroactive basis, even using self-revision.

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Companies may expect HU TA audit in relation to online invoicing data reporting

According to the communication of HU TA, from 21 January, the county and Budapest directorates of the tax authority will perform audits based on risk analyses at the taxpayers obliged to report invoicing data online. Those who failed, based on available control data, to report data on their supplies with a VAT content over 100 thousand forints, can expect an appearance from the tax authority.

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Should we start preparing for Brexit?

At the moment, nobody knows what will happen to Brexit, if it will happen at all or if it will be postponed. There are many possible scenarios but prudent business operation requires us to prepare for a no-deal Brexit even if we are still hoping for Brexit to be postponed.

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