New type of surtax in Hungary
Act XXII of 2014 on Advertising Tax was promulgated in the Hungarian Gazette on 17 June 2014, and will enter into force on the 31st day thereafter, i.e. on 18 July 2014. What is important is that media service providers and press companies may have things to do under the Act as early as this summer because if they are liable for the tax they must prepare and submit a tax return on advertising tax advances to the Tax Authority by 20 August 2014, which they must pay in two equal instalments by 20 August 2014 and 20 November 2014 respectively.
