Audit

In future a company can decide the precise date of issuing capital, so it should be booked with predecided date not with the Court registration date. It can also happen that registration will be done with a predecided future date. Quality control at Ecovis Audit In January of 2020 Ecovis headquarter performed quality control procedure at Ecovis Audit Hungary the 3rd time. During this qualty... »

We would like to draw your attention to a couple of auditors related news and changes of rules applicable also for the civil sector. Modification in Policy of Mentors by Hungarian Chamber of Auditors From now all mentor has to send the valuation of the auditor candidate within 90 days after finishing mentor year. The auditor or auditing company can not be a mentor if against him there was a... »

Paper free Tax Authority The Hungarian Tax Athority – uniquely in EU – launched the paper-free tax audit successfully. This will result in significant cost and time savings to the enterpreneurs. Preliminary announcement on self revision We draw your attention to a new document (18ONELLB). With this document tax payer can announce the future self revision and within 15 days of... »

Registration of bank accounts held abroad All companies must register number of bank accounts held abroad together with name of Bank and date of opening and closing bank account within 15 days from 1st January 2018. If the Company fails to do this registration the fine could be maximum 600k HUF. Rent a flat From 1st January there is no 14% health contribution liability for those private... »

There is only 2 years left to reclaim VAT without self revision. There was a change in section 153/A par. (1) of Law on VAT 2007. CXXVII. in 2016. Before this change the Companies could reclaim VAT without self revision within 5 years. Due to change in 2016 this period has been decreased to 2 years. So this means that VAT reclaimable with performance date in 2016 could be deducted latest in... »

We are pleased to inform you that Mrs Mariann Tóth joined as an audit partner to Ecovis Audit team. Our new collegue is highly proficient in German, too. Her specialties are Hungarian and foreign accounting, the compilation of international financial reports (IFRS, HBII, Swiss GAAP FER) but she also has extensive experience in the field of auditing medium and large enterprises and in the... »