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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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How to register with HU TA for invoicing data reporting

The first step in invoice data reporting is the taxpayer’s registration at the Hungarian Tax Authority (HU TA). Testing of the sending of data can be started in the tax authority’s system after registration. Taxpayers should use this opportunity on the one hand, because the test system of HU TA can do everything that the live system will, which means that potential errors can already be identified at this point and, on the other hand, going live will also be easier for the taxpayer after testing. Every solution the company may choose for the sending of invoice data in the future, registration is a must for both testing and live operation, so let\'s go through this process.

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Preparation for real-time invoicing data reporting – How do I connect my invoicing program to HU TA?

From July 2018, digitalization of the tax authority’s operation is moving to a new level. Similarly to the connection of cash registers to the tax authority’s system, invoicing programs will also support internal automated processes of the Hungarian Tax Authority (HU TA) real-time with electronic messages and grant the tax authority real-time insight into the invoicing of companies. However, the introduction of automated data supply poses more complex technological challenges and comes with potential pitfalls.

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