The deadline for transfer pricing documentation is getting close in Hungary
Companies that use a business year identical with the calendar year must prepare their transfer pricing documentation by the end of May 2021, the latest.
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Companies that use a business year identical with the calendar year must prepare their transfer pricing documentation by the end of May 2021, the latest.
Read moreFrom January 2021, the scope of invoices concerned by online invoice data reporting was extended to include all taxable persons issuing invoices under Hungarian tax numbers.
Read moreA number of tax changes entered into force in January in terms of NAV online invoicing, VAT, tax planning, corporate tax, personal income tax, small business tax (kiva),fixed-rate tax of low tax-bracket enterprises (kata),social contribution tax and local business tax, and companies have a lot to pay attention to.
Read moreIn its regulations issued in November, the Government provides new subsidies to help the sectors most affected by the emergency. Some of the measures are the same as in spring in a repackaged form, while accommodation providers may request targeted subsidies under certain conditions.
Read moreFrom 1 July, 2020 according to the VAT Act, the data of all approved incoming supplier invoices for which the company intends to exercise the right to deduct VAT must be provided to NAV on the M-sheet in the domestic recapitulative statement, regardless of the VAT threshold. This will make not only the invoices issued, but also the invoices approved between companies, fully visible to the tax authority.
Read moreWe summarized briefly the main government measures that aimed to curb the negative business effects of COVID-19 in the CEE region countries: Hungary, Poland, Czech, and Slovak Republic.
Read moreAfter a seemingly long wait for professionals, the decree was promulgated postponing the annual tax liabilities of companies and the publication of the report in view of the coronavirus epidemic until 30 September 2020. It is worth considering what is affected by the postponement and what is the best decision for the company!
Read moreThe new conditions for wage subsidies are more favourable, facilitation of deadlines in respect of reporting and taxation, SZÉP card changes and confirmation of social contribution tax (”szocho”) rate reduction. These are, among others, the latest regulations to mitigate the economic effects of the coronavirus.
Read moreAs part of the Action Plan to protect the Hungarian economy, new measures have been introduced in Hungary to preserve R&D workers’ workplaces. The government measures relate to the coronavirus pandemic, and take the form of a wage subsidy available for employers. The measures are applicable as of 15 April 2020, and businesses in various sectors could take advantage of them, such as IT and software development companies, pharmaceuticals, chemical companies, companies in the financial sector and manufacturers.
Read moreIn order to reduce the negativ economic impacts of COVID-19 crisis, Hungarian government announced new measures: net wage subsidy, tax and administrative reliefs, and introduced retail tax.
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