Summary 191 posts
Certain business transactions can be carried out without the actual payment of VAT, yet very few taxpayers seize the opportunity afforded by VAT debt assumption.
Read moreNowadays, 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.
Read moreIn 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.
Read moreThe Government Decree on personal income tax refunds clears up who are eligible for a personal income tax refund in February 2022 in Hungary. The steps that employers and taxpayers need to take in order to obtain a tax refund have also become clear.
Read moreCompanies 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.
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