March 22, 2020
In Hungary the Government declared an emergency situation, meaning that all indoor gatherings of more than 100 people and outdoor mass gatherings of more than 500 people should be cancelled, furthermore all schools are closed and all shops caffe's and restaurants will have to be closed at 3pm food stores, chemists and pharmacies are the only exceptions. Due to the coronavirus... »
December 14, 2016
As of 2017 significant changes will be implemented in the Corporate Income Tax Act. These modifications and in addition, those important changes that came into force during 2016 newsletter are as follows: new definition of royalty had been implemented and the rules of the tax base modifying items had been modified (July 2016); transactions with the main purpose of gaining tax advantage... »
December 05, 2016
Hereby we list the most relevant modifications with respect to the administrative rules of taxation: changes with respect to the status of the taxpayers (preferential taxpayers are provided further priviledges but econimically non-acitve companies can not qualify for the preferential status); ’supportive audit’ will be introduced, where the tax authority helps the taxpayer to correct... »
November 30, 2016
As from 2017 certain rules of local taxes, car tax and stamp duties will be modified. The newsletter lists the modifications: local taxes concept of IP was introduced corresponding to the corporate income tax modification; restriction applied for tax base decreasing for related parties will be modified; IFRS bookkeeping on tax base will be specified. company car tax will... »
November 29, 2016
As from 2017 certain rules of Value Added Taxation will be modified. The newsletter lists the modifications: extending the threshold for VAT exemption for SMEs, extending the list of supplies of goods and services fall within the scope of reduced rate of 5% and 18%, changes of invoicing rules, and the rules to be applied for real estate transactions based on the EU Regulation... »
October 28, 2016
As of 13 October, 2016 modifications had been implemented in the EKAER decree. According to the new rules even if the total weight of vehicle non-subject to toll payment after load-in reaches 3,5 tons, EKAER reporting is only necessary if the gross weight of the non-risky goods exceed 2 500 kg or the total value of the non-risky goods without tax exceeds HUF 5 million. Further change is that... »
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