Summary 144 posts

Investment incentives, important VAT and EKAER changes in the summer tax package

About the most important measures of the summer draft tax package concerning companies, we can say in advance that it will include employment and investment incentives as well as measures deriving from Hungary\'s obligation of international legislative harmonization. Elements of the government\'s intention to reduce red tape and minimize conflicts with European forums also appeared.

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HU TA Online invoices: 3+1 tasks for May

It is already apparent that this year also brings a number of challenges for taxpayers in relation to real-time invoice reporting. The extension of the deadline for the online invoice version change announced in the beginning of the year until 4 June gives another month to review four areas.

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Helga Kiss, tax director, RSM Hungary
Helga Kiss
Tax
Helga Kiss, tax director, RSM Hungary
Helga Kiss
Tax

Online invoice - from one to two

Although the deadline for this year\'s first modification phase has not yet expired, HU TA has already announced that the next step in online invoice data reporting will be version 2.0. Unlike in the tax authority\'s preliminary plans, not only an adjustment but a larger scale transformation should be expected in relation to online invoice reports.

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Film subsidy 2019

From 1 January 2019, the film productions registered with the National Film Office may account for costs acknowledged for the purposes of the film subsidy according to the Film Act* amended at several points. This may come handy for the domestic production of series with many characters but the base of the film subsidy may reduce in the case of employing high-paid, typically foreign stars.

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Employee housing support - good-bye tax exemption, hello subsequent inspection!

Until 2018, the Act on Personal Income Tax made it possible for employers to provide employees tax-free housing support up to an amount of 5 million forints. This popular tax-free benefit form is no longer available from 2019 but the submission, collection of the certificates relating to support provided earlier is in the interest of both employees and companies.

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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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