Increasing administration when deducting input VAT

A significant modification entered into force on 1 January 2016 relating to the deduction of input VAT in Hungary, which so far has not resulted in much change to companies’ tax return filing practices. Yet as the end of the year draws near, it is worth revisiting the...

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Rules for deductions from wages

Deductions from wages are subject to strict legal regulations. In our article we summarise the rules that affect this action by employers. This is because an employer can only make deductions from wages in the cases provided for by law. Deductions from wages may only...

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Tax implications of inspections

Tax experts at a company never look forward to tax inspections, especially when it is a comprehensive audit by the tax authority. The tax authority may focus either on a specific tax type or on the payment of a tax liability, but during a...

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Tax implications of a preferential transformation

In our article entitled Taxation of transformations, and preferential transformations we touched in general upon the tax issues arising during the transformation of companies. Now we will discuss the practical aspects. When transforming a company, if we consider...

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2018 tax law amendments

On 14 November 2017 the National Assembly adopted the autumn package of tax laws for 2018, including the most anticipated new Act on Rules of Taxation and the Act on Tax Administration Rules. We have already written about the bills intended to replace the Act on Rules...

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Quick evaluation of investments – calculating depreciation

In previous articles of our series on the quick evaluation of investments we analysed how to calculate costs, expected profits, and then profitability itself to gain a clearer picture for our investment decisions. Each of the three aforementioned methods can be listed...

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Strategic aspects of comprehensive tax inspections

During their operations, companies have to comply with their obligations set forth in various tax and procedural laws, and operating lawfully requires that these are observed on a continuous and timely basis. Finance staff at companies identify and fulfil...

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Changes to tax enforcement law

Among other tax laws, on 14 November 2017the National Assembly accepted the law on enforcement proceedings to be implemented by the tax authority (hereinafter: “tax enforcement law”), which will enter into force on 1 January 2018. The bill brings several modifications...

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Tax strategy proposals

The relationship between man and his environment is special. The more we want to solve a specific problem, the less we “see the wood from the trees”. The same applies for us, as tax experts. Seriously, except for those who love seafood, who cares that the...

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Year-end stock-taking tasks loom closer

Companies operating according to a normal financial year will soon reach the end of their year. In preparation for their annual reporting, these firms have to take certain steps in terms of stock taking. Traditionally, this means the recording of assets in an...

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Providing evidence during tax inspections

The rules for providing evidence, related tax authority obligations as well as taxpayer rights are crucially important during a tax inspection. This article provides some help here, paying particular attention to the provisions of the draft tax administration law,...

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