Press release
WTS Klient Newsletter #21/2017
Our latest newsletter #21/2017 has now been released. In this edition we summarise our articles published this week: Taxation of foreigners’ income by types of income in Hungary Corporate tax permanent establishment in light of BEPS rules Should you have any questions...
Corporate tax permanent establishment in light of BEPS rules
Having a corporate tax permanent establishment in Hungary means extra administration that requires special expertise.
WTS wins two awards at the European Tax Awards 2017
WTS Global was rewarded with the “European Indirect Tax Firm of the Year 2017" award at this year's European Tax Awards ceremony held by the trade journal, International Tax Review in London on Thursday, 18th May. WTS Germany won the "German Tax Firm of the Year 2017"...
Taxation of foreigners’ income by types of income in Hungary
In an earlier article we outlined how to determine the tax residency of employees. Now, with the help of a double tax treaty between Hungary and the other country concerned, we can establish the country employees have to pay personal income tax in for their incomes...
WTS Klient Newsletter #20/2017
Our latest newsletter #20/2017 has now been released. In this edition we summarise our articles published this week: Guidelines for decisions on dividend payments this year Customer statement, letter of representation during NAV inspections Should you have any...
Customer statement, letter of representation during NAV inspections
During a tax inspection there is a good chance that the tax authority will request the company or taxpayer under review to make a customer statement. A customer statement is one of the most important means of proof for both the tax authority and customers or...
Guidelines for decisions on dividend payments this year
Although we are getting close to the end of the process for preparing, accepting and publishing financial statements, it is not a bad idea to bear some new aspects in mind in this context. As we already know, the Accounting Act changed as of 1 January 2016 in the...
WTS Klient Newsletter #19/2017
Our latest newsletter #19/2017 has now been released. In this edition we summarise our articles published this week: The role of special taxes in the Hungarian tax system Health insurance status checks – the lights reveal all Should you have any questions regarding...
The role of special taxes in the Hungarian tax system
Special tax on financial companies, financial transaction duty, telecommunication tax, public utilities’ tax, energy providers’ tax, insurance tax, accident tax, public health product tax, advertising tax – these are just some of the special taxes introduced in the...
Tax amendments in 2018
On 2 May 2017 the government submitted its spring tax amendments for 2018 to Parliament. In an earlier article we revealed the most important amendment of the planned changes in Hungary, which is that the mandatory online data provision from invoicing software...
Health insurance status checks – the lights reveal all
In Hungary, healthcare providers check the validity of social security numbers before treating patients. This online check reveals whether the patient is included in the list of those entitled to treatment, as kept by the health insurer. The system can show “green”,...
WTS Klient Newsletter #18/2017
Our latest newsletter #18/2017 has now been released. In this edition we summarise our articles published this week: VAT fixed establishments – definition issues Judgement of the Court of Justice of the European Union – unlawful NAV tax penalty Should you have any...
Judgement of the Court of Justice of the European Union – unlawful NAV tax penalty
Not so long ago we reported on a Hungarian case at the Court of Justice of the European Union based on the Advocate General’s opinion. The judgement was passed on 26 April, and we can easily say that it surpasses all expectations. Taxpayers can rejoice because the...
Tax implications of IFRS
Act CLXXVIII of 2015 on implementing the application of the International Financial Reporting Standards in Hungary for individual reporting purposes and the modification of certain financial laws made it possible, from 1 January 2016, to incorporate the detailed rules...
Online invoicing from 1 July 2018
The Ministry for National Economy has made its expected announcement: online data provision will be mandatory from 1 July 2018 when using invoicing software, while taxpayers can test this way of providing data from 1 July 2017. During the transition and...
