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21 November 2018

On 13 November 2018 the government approved the T/2931 draft legislation about the autumn tax package. In our current newsletter we are summarizing the major changes.

21 November 2018

The information exchange agreement between Hungary and the United States with respect to the automatic exchange of country-by-country reports (CbCR) was concluded on 25 October 2018. We consider it important to emphasize that this agreement alone does not absolve the relevant Hungarian companies...

21 November 2018

In relation to the amendment of the various tax laws earlier this year by the Act Nr XLI of 2018, the major modifications in terms of VAT adopted by the Hungarian Government on 13 November 2018 concern on one hand the extension of the application of the reduced tax rate of 5 % for so called new...

25 October 2018

On 1 July 2018, ITM Decree No. 1/2018 (VI.29.) came into force about the rules of digital archiving, which replaced the previous regulation from 2007. In connection with the previous regulation, several complaints have been raised that the related administrative burdens outweigh the benefits of...

25 October 2018

On 2 October 2018, the Finance Ministers of the European Union endorsed Hungary's application for a higher limit for VAT exemption. As a result, even from 2019, this current threshold may be increased from HUF 8 million to HUF 12 million, which is equal to the current limit of the so-called KATA...

26 September 2018

The European Council accepted the proposal about aggressive, cross-border tax planning on 13 March 2018. The main aim of the accepted proposal is to ensure greater transparency and to prevent corporate tax avoidance.

26 September 2018

Over the past few months the Curia has annulled several decisions concerning certain municipal decrees and their detailed rules. In this context, we would like to mention four cases which – according to our view – may also be useful for taxpayers located in other municipalities due to possible...

26 September 2018

The de minimis rules of the Hungarian Advertisement Tax Act came into force on 1 July 2017. From that date, HUF 100 million are tax exempt from the net revenue deriving from the taxable activity of the advertising publisher.

30 August 2018

The Act XLI. of 2018 has been announced on 25th July 2018 about the amendment of several tax laws and other relating laws, which affects the accounting rules as well. In our present news we demonstrate the significant changes of the Accounting Act (Act of C of 2000) that come into effect from 1st...

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