Press release
Local business tax can change each year, and depending on where you are
Local business tax is an issue arising every year that we have to deal with during the preparatory and closing work preceding annual reporting. Act C of 1990 on Local Taxes, which in accordance with the tax type in question is often commonly “just” referred to as the...
The need for a due diligence
A due diligence is typically a process during which a potential buyer establishes and quantifies the value of the company (hereinafter: target company) or the assets it intends to buy based on information made available by the seller or other sources, prior to the...
WTS Klient Newsletter #7/2017
Our latest newsletter #7/2017 has now been released. In this edition we summarise our articles published this week: • Expected changes to foreign investments after the corporate tax rate cut • What can a dividend in Hungary be paid from? • Cooperative procedure – new...
Photo report – Secondments to Hungary
At the joint event of WTS Klient Hungary and the German-Hungarian Chamber of Commerce and Industry on the 9th of February 2017, experts of WTS held presentations in the House of German-Hungarian Economy on the most important labour-law and tax regulations...
Cooperative procedure – new customer-friendly NAV concept
For a long time now the government has talked about developing a customer-friendly, service-providing tax authority. The “dream NAV” for company managers differentiates between good and bad taxpayers in Hungary like the good fairy, while directing citizens and...
What can a dividend in Hungary be paid from?
At the beginning of the year, when annual reports are prepared, there is one members’ meeting or general meeting after another and the owners define the amount of any dividend for the previous year. We have all become used to the Hungarian phenomenon that an annual...
Infoletter 2017 – Assignments to Germany
In our newest publication entitled Infoletter 2017 - Assignments to Germany we highlight the most important legal requirements about assignments to Germany for Hungarian employees. The WTS Klient Infoletter 2017 is available only in Hungarian and German version. You...
Expected changes to foreign investments after the corporate tax rate cut
The 2017 tax change that triggered the biggest reaction among companies was the introduction of the uniform 9% corporate tax rate. It is worth checking out how foreign investors respond to this change, and how this decision by the government will affect their...
WTS Klient Newsletter #6/2017
Our latest newsletter #6/2017 has now been released. In this edition we summarise our articles published this week: • VAT-registered taxpayers now also defined in law: how can they interact with the NAV? • The basics of Hungarian transfer pricing rules • Challenges...
Challenges when preparing group reports
A good number of consolidated enterprises closed their previous financial years as of the end of January, and the annual group reports were prepared at the same time. The data of these reports and Hungarian statutory reports may differ, while their preparation...
The basics of Hungarian transfer pricing rules
Even at the beginning of the year we can almost take for granted that transfer pricing rules will be a key topic in the lives of Hungarian companies in 2017. Issues affecting transfer prices are continually changing, even globally: multinational companies are...
VAT-registered taxpayer now also defined in law: how can they interact with the NAV?
Although VAT-registered companies have been a focal point for the NAV and the advisory profession for a long time, legal regulations have essentially neglected to define them, until recently; from 1 January 2016, the term VAT-registered taxpayer was finally included...
Bookkeeping abroad
Before an enterprise decides to bookkeeping abroad, several criteria have to be taken into account. In our article we show you these criteria.
Paying environmental product fee does not give exemption from providing waste management data
Failure to fulfil the obligation can mean a penalty of up to HUF 1 million (EUR 3,200) for companies affected by the environmental product fee.
Newsletter II/2017 – BEPS – Information is power: CbCR for protecting tax revenues
According to a communication by the Ministry for National Economy (MNE), Hungary will join the OECD convention on information exchange in accordance with the BEPS (base erosion and profit shifting) programme. Each year the tax authorities of almost 50 countries exchange their reports on transfer pricing (Country-by-Country Reporting) thereby protecting the states party to the convention from significant losses in tax revenues. We answer some of the basic questions regarding this topic in our newsletter.
