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24 January 2019

On 21st December 2018 the Hungarian National Tax and Customs Administration (NAV) issued an official publication on VAT liability and invoicing obligations of vouchers.

24 January 2019

An amendment to Directive 2006/112/EC on the common system of value added tax was adopted by the Council of the European Union on 20 December 2018 through the Directive 2018/2057 (‘GRCM Directive’). The Directive entered into force on the 20th day following the publication (which was on 27...

23 January 2019

Under the Act on Personal Income Tax, the overall tax base and the tax payable on it can be reduced on the basis of certain tax breaks. One of these tax breaks is the disability allowance.

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.

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