Facebook image

Summary 31 posts

Transfer pricing data to be reported in the CIT return

A draft amendment to the transfer pricing decree is now available, detailing the data that will need to be included in the corporate income tax return from 2023 onwards in relation to transfer pricing documentation. In addition to the new administrative task, the documentation threshold value is expected to change and the number of transactions to be documented may be reduced.

Read more

Sectoral special taxes in 2022

Similarly to 2010, the Hungarian Government has once again decided to impose additional taxes on certain profitable industries in order to support a balanced government budget, to maintain the utility cost reduction and to provide funding for the military.

Read more

Taxation changes in 2022 - How do we tax in 2022 in Hungary?

A number of taxation changes will be introduced from January, including VAT, tax planning, corporate income tax (CIT),personal income tax (PIT),small business tax (KIVA),social contribution tax or local business tax (LBT),so companies will have a lot to think about. Here is an overview of the tax related changes important for companies that will take effect from 2022.

Read more

The taxpayer has the right to supportive tax authority administration

The European Court of Justice recently made a decision in another interesting case with Hungarian implications. The ruling relates to a special topic of the VAT Act, that of the VAT reclaim procedures of foreigners. In the justification of the ruling, the court also refers to areas of procedural law that are of interest to Hungarian companies as well.

Read more

Tax allowances to boost youth employment

The corona epidemic posed a major challenge to the Hungarian economy affecting, among others, the income of the young population. However, incentives both within and outside the scope of the tax regime support the improvement of the labour market situation of young people. We gathered information on what employers and young employees may expect below.

Read more

How should you plan your webshop?

From 1 July 2021, the rules relating to web shops are amended at EU level. Businesses selling goods and services through web shops should prepare for this in advance to ensure an optimal way of sales and administration. With the right business model companies can, on the one hand, achieve tax savings and, on the other hand, cut administrative burdens. Otherwise, web shops will run a risk and may even expect substantial tax penalties.

Read more

Equity Problems and Tax Aspects

A company\'s equity problem may have an effect on the company form and may even lead to the termination of the company. If the loss of capital is revealed in relation to the preparation of the financial statements, the company must act as soon as possible in order to resolve the situation. When to act, how much time does the company have and what directions can the company go in to resolve equity problems in Hungary?

Read more

Featured tags