Press release
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 comprehensive tax inspection...
Comprehensive tax audit from a tax expert’s perspective – VIDEO
During a comprehensive tax audit the tax types reviewed in detail include value added tax and corporate tax, but a thorough inspection may cover other tax types as well, depending on the specific features of the sector. What are the main risks? How can we...
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...
Service provider obligation to forward data in respect of beneficial owner information in Hungary
When identifying the beneficial owner of an organisation that is a legal entity or an organisation without legal personality, service providers in Hungary subject to Act LIII of 2017 on the Prevention of Money Laundering and the Financing of Terrorism (hereinafter:...
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...
Comprehensive tax inspection from a strategic perspective – VIDEO
A comprehensive tax inspection is crucially important for a company since in the majority of cases, the result will qualify the work of the previous 3-5 years. How should you prepare? What should you look out for? Andrea Potássy, partner of WTS Klient...
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...
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...
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...
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...
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...
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,...
Granting holiday entitlements beyond the current year
As the end of the year draws near, a very important issue arises at employers: when can holidays not taken in the current year be brought forward to the following year? Holidays due to employees comprise two parts: basic leave and supplementary leave. Basic leave is...
Taxation of transformations, and preferential transformations
In our article entitled Challenges during transformation of companies we provided a general overview of transformations, in the subsequent summary The transformation process of companies we generally dealt with legal regulations, deadlines and related schedules, while...
Internal financing: financing using own resources
In my first article on financing I aimed to present the most important external financing opportunities available. However, we cannot forget that some companies carry out their activity based on internal financing, or self-financing, i.e. they fund their own...
