Hírek

From January 1, 2017, the level of fines to be imposed on companies operating webshops will radically increase and the ministry will manage a public database on the webshops and on their operators which have committed serious violations. The bill has been already submitted to the Parliament. As a consequence of the numerous complaints by consumers in regards to webshops the level of the... »

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... »

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... »

The European payment order procedure might be a practical and cost-effective legal solution for the collection of a monetary claim against a debtor with domicile or registered seat in countries of the European Union (except Denmark). The request for the issue of the European payment order has to be filed with any Hungarian notary public exclusively only on paper using the standardised form... »

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... »

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... »