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Changes in the online data reporting regulations25 May 2020 We would like to draw your attention to some important changes affecting the online invoice data reporting obligation:Data disclosure XSD version 2.0 – 1 July 2020New taxpayers subject to reporting obligation – 1 July 2020Severe...

In our newsletter below, you will find a summary of the most important changes of the Act on Accounting from 2020. The primary purpose of these amendments is to approximate the domestic requirements to the international (IFRS) standards. 

In this newsletter we summarize the major tax law changes deriving from the the 2019 autumn tax law amendment package.

In 2019, only negative changes occurred in the system of fringe benefits however, the change in the mid-term social contribution tax had a positive effect. Cafeteria rules that come into effect in 2019 will continue to apply in 2020.

From the tax year of 2019, with the permission of the Hungarian State Tax Authority, companies have the opportunity to choose corporate group taxation.

Ügyfélkapu is an electronic platform and identification system through which safe contact with individual identification can be made with public administration bodies and institutes providing electronic public administration and services.

The determination of the length of the period while employers were required to retain and store employment-related documents was a problem issue for years.

Private individuals continue to have the option of giving instructions on how 1+1% of their personal income tax paid on the overall tax base will be spent.