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Summary 171 posts

Electronic invoicing and archiving - what's beyond the pile of papers?

The move to electronic invoicing could be the first step in transforming administration. An increasing number of companies prefer contactless payments and paperless invoicing and are looking for e-invoicing solutions that are compatible with teleworking, while automating internal processes and increasing efficiency.

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Helga Kiss, tax director, RSM Hungary
Helga Kiss
Tax

Autumn tax changes 2022 - a summary of the key points of the new tax package

On 18 October, we were presented with a package of tax law proposals containing a number of tax law changes, including significant changes to corporate income tax and long-term investment accounts, while also aiming to simplify administration and tax obligations. We have summarised the main areas and tax types where taxpayers can expect changes.

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Diána Varga
Tax

This tax allowance can help businesses stay afloat

In the current economic climate, Hungarian businesses are also facing gradually rising energy prices, and are having to pay several times more than they used to for gas and electricity. One way to reduce costs is to invest in energy efficiency, to which the Corporate Tax Act also links a tax allowance.

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Transfer pricing: gigantic fines and stricter rules in Hungary

A two-and-a-half-fold increase in default fines, a new transfer pricing reporting obligation relating to corporate income tax returns, and changes in the rules pertaining to tax base adjustments. Bill T/360 is expected to have an impact on several aspects of the transfer pricing rules pertaining to related parties, and we are likely to see stricter regulations in this regard.

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Do you work abroad remotely from Hungary? It’s worth now making sure that you’re taxing well!

Nowadays, it is common for Hungarian workers to work abroad as part of an international work schedule. With the coronavirus pandemic though, many workers have returned to Hungary to work remotely. For them, it is definitely worth reviewing the taxes applicable to wages received from abroad. On one hand, they may face a taxation risk if they pay the personal income tax abroad, and the Hungarian personal income tax can be more favourable for them even than the one paid abroad.

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Diána Varga
Tax

Tax benefits related to the corporate income tax

In the second part of our blog series, we discuss the tax benefits available in connection with the corporate income tax. We will highlight common mistakes that may involve risks during a tax audit, so that you can avoid being found to have unlawfully used a tax relief.

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