Summary 139 posts

Helga Kiss, Senior tax advisor, 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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Who should choose group taxation?

Based on the adopted tax laws for the coming year, Hungary will join a number of European countries with a modern tax system, where group taxation is also available with regard to direct taxes, in addition to the VAT. From the 2019 tax year, it will be possible also in Hungary to choose group corporate taxation, which can be notified to the Tax Authority in the first two weeks of January. Let us see who should choose this and what aspects should be considered in the next two months?

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Level of film rebate for Hungarian production increases to 30 percent

Following a green light from the EU Commission, the level of indirect film related tax rebate in Hungary rises to 30% from 11 June 2018. The boosted proportion of film incentive is guaranteed to 31 December 2024, thus in an ever-more competitive regional situation the Hungarian film industry has a much better chance of maintaining its role as market leader. No changes are expected in the application process for film grants.

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