Summary 12 posts

EKAER: Regulation changes from 1 January 2021 in Hungary

Provisions of the Act on the Rules of Taxation relating to the Hungarian Electronic Trade and Transport Control (EKAER) system will be amended from 1 January 2021. For example, the group of products to be reported in the road freight transport control system will change.

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Another option for employers: the job-creating wage subsidy has arrived

As part of the COVID-19 Economic Protection Action Plan, the Hungarian government has launched a new wage subsidy programme now to enhance job creation. Its main purpose is to provide help in recruitment for employers who have been forced to lay off workers in recent months due to the economic impact of the coronavirus.

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Cafeteria changes – How to plan for 2017?

During the spring season the Parliament accepted Act LXVI of 2016 covering personal income tax (PIT) changes, which also substantially and fundamentally amends at several points fringe benefits giving the backbone of cafeteria systems. The changes may force companies to rethink their cafeteria systems. We wish to help in this process with this post.

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EU Court: VAT also deductible based on an invoice issued to another person’s name

One should always pay attention to the decisions of the EU Court of Justice. Recently, for instance, the European Court of Justice made a decision in two joined Hungarian cases providing a clearly defined framework for the former standpoint and practice of the Hungarian tax authority in respect of the exercising of the right of VAT deduction. The court in Luxembourg also made decisions in other disputes, which elevate the partnership between taxpayers and tax authorities to a higher professional level – provided, of course, that the tax authority is also open, prepared and willing to act as a partner.

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How shall we keep and store electronic invoices?

Electronic invoicing is a promising solution for smaller companies too (as I have pointed out in my post Major opportunities presented by electronic invoicing, as for now, available only in Hungarian). However, the administration and archiving of e-invoices is also especially important. A summary of information on these matters follows below.

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Innovative solutions taking Hungarian companies to the finals of the European Business Awards

Innovative solutions allow growth and progress at a time of crisis also – this is the message of the twenty Hungarian companies that have made it to this year’s finalists of the prestigious European Business Awards. All of these companies attribute their success to an ability to constantly reinvent themselves. The finalists also have the chance of winning the highly acknowledged Ruban d’Honneur award. European award winners will be revealed in September.

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