Press release
EKAER number – the wound that never heals II.
Penalties imposed in relation to an EKAER number should be differentiated and subsequent corrections should be allowed for reliable taxpayers.
Foreign workers – the rules of taxation
Cross-border employment is a key issue in terms of taxation as well since it is important to define the country where the income of workers is taxable. Foreign workers – how to define tax residence? When examining the income tax payment...
Legal aspects of employing foreigners – VIDEO
It is worthwhile clarifying the legal framework to foreign employees working in Hungary prior to their posting. Dr. Petra Eszter Deli, legal expert at WTS Klient Hungary, talks in this video about the various solutions as well as the obligations of both...
EKAER number – the wound that never heals I.
“The introduction of the EKAER has been a success story, and our neighbouring countries would like to “import” the system.” - According to the authorities, the system is good and has achieved its goal. Those who use the system and taxpayers making mistakes in the...
Expat workers in Hungary – strategic considerations
What did Germany, The Netherlands, the UK, France and the USA have in common last year? Each of the five countries increased the number of their declared workers in Hungary in 2016 compared to 2015. According to a recent study published by the...
Financing
There are essentially two ways for a company to finance its activity: using own or external resources. In reality, financing using external resources only is not possible for most companies due to equity rules, but it is possible to use just own resources for...
Wim Wuyts is the new CEO of rapidly expanding WTS Global
WTS Global, a leading global tax consulting network, is positioning itself for additional international growth by creating a new Chief Executive Officer role. Wim Wuyts, a proven tax expert and leader, comes to WTS Global from Bekaert, a Belgian based multinational...
Tax aspects of employing foreigners – VIDEO
The tax residence of foreign workers can be defined based on conventions for the avoidance of double taxation. Zoltán Cseri, manager at WTS Klient, speaks in this video about key tax law implications of employing expats in Hungary. Please do not forget to...
Relation between corporate tax rate and transfer pricing rules
Decreasing the corporate tax rate provides tax planning opportunities, but transfer pricing rules also need to be considered for transactions between related parties.
Photos from the 2017 WTS CEE conference
This year’s WTS Central and Eastern European conference and client meeting was held in Poland on 8 and 9 September 2017, in the new office building of WTS Saja in Poznan inaugurated at the event. Zoltán Lambert, managing partner, Tamás Gyányi,...
A new Act on Rules of Taxation and tax administration procedure law
As mentioned in our earlier article, the Act on Rules of Taxation will be re-created in two new laws. Professional bodies and all interested parties were able to express their opinions on the draft Act on Tax Administration and the draft Act on Rules of Taxation –...
Strategic aspects of working abroad – VIDEO
As Hungarian employees we can more or less navigate ourselves easily among Hungarian taxation and social security laws, but when a foreign employee arrives, this poses a serious challenge for our HR and finance managers. Tamás Dely, Business Development...
Do not forget about reclaiming foreign VAT! Final deadline just round the corner…
Do not forget about reclaiming foreign VAT soon – the final deadline is 30 September! Requests have to be submitted to the NAV for all Member States.
How to submit the VAT registration form
In my earlier articles in this series on VAT registration, I outlined the theoretical background to the topic: I explored financial representation, then in my most recent article I gave a brief overview of the typical cases when VAT registration in Hungary is...
Provisions or accrued expenses – discrepancies between Hungarian and German rules
The question of provisions or accrued expenses arises most often when preparing annual reports. Both items are liabilities recorded on the company’s income statement, but they differ in several respects. However, if a given company prepares its annual report in...
