Audit

April 20, 2018
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... »
 
January 10, 2018
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... »
 
January 05, 2018
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... »
 
February 21, 2017
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... »
 
November 17, 2016
Impact on corporate tax when you prepare financial statement according to IFRS in 2017 If a Company decided to change local GAAP to IFRS or would like to do that in the future should be aware of new law in corporate tax for 2017. In most cases the profit before tax according to local GAAP is different from PBE according to IFRS but during the first 2 years of using IFRS the corporate tax and... »
 
May 02, 2016
Simultaneously with the entering into force of Act IX of 2016 liabilities recorded as collection flat rate in companies’ books and in their balance sheets for previous years on account of payment delays related to earlier business transactions shall be recorded against other expense, provided that the creditor has not claimed the collection flat rate until that date. If you are interested in... »
 
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