Press release
Taxation of foreigners’ income in Hungary – definition of tax residency
In our previous article we reviewed the most important aspects of the taxation of foreigners’ income in Hungary. Let us take a look at the details now: which factors enable us to define tax residency in the case of a private individual. What aspects must be...
WTS Klient Hungary on the shortlist of European Tax Awards 2017
WTS Klient Hungary has been shortlisted this year in three categories as one of the best tax professionals in the European Tax Awards, the most important tax contest in Europe. The winners will be announced and the awards will be presented on 18th of May in London....
Strategic aspects of IFRS transition
From 2017, any company obliged to be audited in Hungary may now choose to apply IFRS bookkeeping and reporting. So bookkeeping according to the international standards which were so far only mandatory for listed companies and credit institutions has now become an...
WTS Klient Newsletter #13/2017
Our latest newsletter #13/2017 has now been released. In this edition we summarise our articles published this week: Labour law framework for intercompany postings Employment audit from a legal perspective Quick evaluation of investments – cost comparison Should you...
Switching to IFRS can relieve of extra workload
Zoltán Lambert, managing partner at WTS Klient Hungary, has voiced his views on switching to IFRS on InfoRadio. “The consolidated Hungarian subsidiaries of multinational companies could be relieved of a huge extra administrative workload if they only keep their books...
Quick evaluation of investments – cost comparison
Every day, situations arise at companies when we have to make decisions on smaller or bigger investments, or have to work on such decisions. The general problem is that the personal bias or convictions of the person making the decision or the owner are too influential...
The new e-PIT does not include everything – InfoRadio
Tamás Gyányi, partner at WTS Klient Hungary, has voiced his views on the new e-PIT website of NAV on InfoRadio. He believes the system is good from the taxpayer’s perspective: you can get to the draft tax return with a few simple clicks where you find the incomes,...
Employment audit from a legal perspective
The dynamically changing and increasingly complex legal environment in Hungary constantly poses new challenges for employers. Compliance with prevailing legal regulations (in particular, but not limited to, avoiding penalties and ensuring lawful labour relationships)...
Labour law framework for intercompany postings
It is increasingly common for foreign parent companies to send their employees, particularly expert professionals, middle-level and senior executives, to work at their Hungarian subsidiaries. Reviewing the labour law framework for intercompany postings, also looking...
WTS Klient Newsletter #12/2017
Our latest newsletter #12/2017 has now been released. In this edition we summarise our articles published this week: Controlled foreign companies – tuned into BEPS Labour shortage and increasing salary demands Transfer pricing documentation Should you have any...
Transfer pricing documentation
It was 2003 when the first decree of the Ministry of Finance was issued that summarised Hungarian regulations on transfer pricing documentation based on authorisation granted in the Act on Corporate Tax. There have been several modifications until 2017, and there will...
WTS Germany is top employer
WTS Germany has been awarded the TOP JOB 2017 prize for their unique company culture and environment.
Labour shortage and increasing salary demands
Who doesn’t remember one of the main criteria for a positive assessment of 2007-2014 EU grant projects? In addition to a minimum investment amount and a gradual increase in sales revenue, significant growth in the number of employees ensured the success of any bid. In...
Controlled foreign companies – tuned into BEPS
The definition of controlled foreign companies has changed, but companies performing substantive economic activities still do not fall into this category.
Self-revision – useful information
A self-revision is one of the most important legal institutions of the Act on Rules of Taxation, which allows companies themselves to correct any tax bases filed incorrectly or any tax liability, so as to avoid these issues being detected by the tax authority during a...
