The Hungarian Government‘s recent plan is to link the invoicing of the companies to the NTCA from July 1, 2017. According to the bill the taxpayers will provide data directly to the NTCA of any invoices issued by their accounting software where the VAT reaches or exceeds HUF 100,000. Providing data to the NTCA would take place automatically and electronically as the invoice is issued ensuring... »
September 15, 2016 | Legal
August 30, 2016 | Tax
The tax authority published on its website an interpretation about how to understand the concept of useful floor area in case of applying the discount (5%) tax rate during the purchase of specified real estates. Full text of interpretation in Hungarian is available here. If you are interested in the above topic please contact our experts at Ecovis Tax Solution who would be entirely... »
August 25, 2016 | Legal
The new Union Customs Code entered into force on October 30, 2013; however most of its substantive provisions apply from June 1, 2016. The UCC is the latest milestone in EU’s customs legislation giving a complex and directly applicable regulation involving new models and mechanism in several aspects of customs law. These areas particularly are customs public proceedings, representation in these... »
August 15, 2016 | Legal
From 8 July, 2016 it is required to elect a health and safety representative not later than January 8, 2017 in workplaces where at least 20 workers are employed. In workplaces where less than 20 workers are employed it is only required to elect a health and safety representative if it is initiated by the workplace’s trade union or shop steward or in the lack of these the majority of the... »
August 01, 2016 | Legal
Having regard to these circumstances, we are happy to announce that the team of ECOVIS HUNGARY’s legal office will have a new member from August 1, 2016. Veronika Tolnainé Tóth is our new adviser specialized in customs law. Her skills are unique in explanation of union and national customs legislation, optimize customs related economic firm flows, and she helps the work of lawyers in juridical... »
July 27, 2016 | Legal
We are glad to announce that ECOVIS International is taking a big step forward to strengthen its presence on the US-American market by having signed an agreement with Marcum LLP, which will make them the exclusive associated partner of ECOVIS International for accounting, tax and audit in the United States of America. Marcum LLP is one of the largest independent public... »
July 27, 2016 | Legal
Hungary has become one of the most attractive countries in the region in respect of the creation and utilization of intellectual property thanks to the various tax-allowances. The Hungarian legislation amended the applicable law a month ago. If you are interested in this topic please contact our legal experts and we will provide you with a short summary.
July 11, 2016 | Legal
The European Parliament and the Council adopted the Regulation on General Data Protection Regulation (‘GDPR’), which will replace the previous regulation and following it come into force in the first half of 2018, will be applicable directly in all Member States. If you are interested in this topic please contact our legal experts and we will provide you with a short summary.
Council implementing regulation (EU) No 1042/2013 – introduction of concept of immovable property form 2017June 01, 2016 | Tax
According to the council implementing regulation (EU) No 1042/2013 concept of immovable property will be introduced from 2017 in order to ensure a uniform tax treatment by Member States of supplies of services connected with immovable property. Full text of Council in English is available here. If you are interested in the above topic please contact our experts at Ecovis Tax Solution who... »
May 31, 2016 | Legal
The Ministry of National Economy issued an opinion and concluded: no subsidy may be allocated in case of anyone else is owner of the property than the applicant(s). If you are interested in this topic please contact our legal experts and we will provide you with a short summary.