In the first part of our two-part article series, we reviewed how eligibility for family allowance and the family tax allowance changes after completing secondary school education….

Based on the government’s programme, the Hungarian tax system is set to undergo substantial transformation in the coming years. One of the most significant elements of this trans…

With the end of the school year, many families not only begin the summer holiday period, but may also face changes affecting their family benefits and social security entitlements …

WTS Klient Hungary has once again been recognised on the international stage, securing four shortlist placements at the ITR Europe Tax Awards 2026 organised by International Tax Re…

According to a statement of the Hungarian Ministry of Finance also published on the website of the Hungarian tax authority (NAV), based on the government’s plans, the invoice-lev…

In our previous article, we provided a detailed overview of the planned reform of the General Block Exemption Regulation (GBER), which serves as a cornerstone of the EU state aid f…

It is not uncommon for a foreign employer to engage a Hungarian employee without having a registered legal presence in Hungary. However, many are unaware of who is responsible for …

The PPWR (Packaging and Packaging Waste Regulation), the new EU Packaging Regulation, establishes a new foundation for packaging-related requirements across the EU. As the PPWR has…

The application of the global minimum tax in Hungary has reached another important milestone: the Hungarian tax authority has made the extended version of the 24GLBADO return avail…

Based on government communication in recent months, many may have concluded that Hungary is practically closing its doors to third-country workers and introducing a complete “gue…

The EU deadline of 7 June 2026 for Member States to transpose the European Union’s Pay Transparency Directive (EU) 2023/970, into national legislation has now expired. Hungary ha…

The Hungarian retail tax has once again become the focus of European legal disputes. As previously reported, in April 2026 the European Commission decided to refer Hungary to the C…

WTS Klient Hungary further strengthens its professional presence in one of the key forums of economic decision-making: at its 2026 General Assembly, the Joint Venture Association (…

As part of a comprehensive reform of the EU customs framework, a new EU customs duty is introduced for low-value goods. From 1 July 2026, the customs duty exemption for consignment…

Why and how can R&D qualification play a key role in a company’s finances? Research and development is one of the areas with the highest potential in corporate taxation, yet …

The Curia’s (Supreme Court of Hungary) Opinion No. 1/2025. KK elevates the approach to disputes relating to the right to deduct VAT to a new level, revising its previous judicial…

The treatment of research and development in corporate income tax in Hungary is one of the most complex yet value‑adding areas of tax planning and strategic decision‑making. Wh…

On 29 April 2026, the European Commission decided to refer Hungary to the Court of Justice of the European Union for failing to abolish its retail tax. According to the Commission,…

With the formation of the new Hungarian government, substantive decisions affecting the Hungarian tax system are expected in the near future. We will provide detailed analyses of t…

The Hungarian small business tax (KIVA) has become increasingly popular among Hungarian companies in recent years due to its simplified structure and favourable 10% tax rate. At th…

This year marks the first time that the Public CbCR publication deadline is added to the many other obligations and deadlines that companies face: the time when they must actually …

The VAT treatment of transfer pricing adjustments has become one of the most topical tax issues of recent years. Due to the modification of Hungarian accounting rules and the contr…

The General Block Exemption Regulation (GBER) forms a cornerstone of the European Union’s state aid architecture. Its importance lies in allowing Member States to grant certain c…

Nearly 3,200 companies in Hungary have recently received a notice regarding their failure to conduct a statutory audit, meaning they fulfilled their obligation to publish their fin…

In 2026, the draft PIT returns prepared by the Hungarian tax authority (NAV) will be available earlier than usual, already from 13 March. The review, modification and approval of t…

According to the 2026 tax inspection plan of the Hungarian tax authority, taxpayers selected for audit this year will be chosen even more through data‑driven processes, using art…

During invoicing, it is not uncommon for subsequently identified facts or administrative errors to make the modification of an already issued invoice necessary. In such cases, Hung…

The explosive growth of the digital economy in recent years has gone hand in hand with a radical transformation of the related regulatory environment. On the one hand, this has bro…

On 30 January 2026, Government Decree 10/2026. (I. 30.) on measures aimed at improving the competitiveness of restaurants was published in the Hungarian Gazette. According to the d…

CIT allocation (allocation of corporate income tax), is in Hungary a tax optimisation tool that allows a portion of the CIT not to be “lost” but to be used in a targeted, contr…

By 2026, the legal and technical framework for the global minimum tax appears to be taking shape. The detailed rules in Hungary are provided by two decrees of the Hungarian Ministr…

One single transport, two countries, three parties – and an unexpected tax liability. At first glance, international chain transactions may appear straightforward: the goods leav…

Rapid tax digitalisation, expanding tax-allowances and PIT exemptions, new investment incentives on one side, and rising EPR fees, company car tax and vehicle tax, the return of th…

On 23 December 2025, the Hungarian Ministry for National Economy (NGM) announced the final Hungarian transfer pricing decree 2026, officially published as Decree 45/2025 (XII. 23.)…

In the first part of our two-part series on interim closing, we reviewed the advantages of an interim closing and highlighted why it is worth considering even when it is not mandat…

Economic operators are facing unprecedented changes: the rise of digitalisation, automation, and artificial intelligence is fundamentally reshaping corporate workflows. In its 2025…

In international corporate taxation, the concept of a permanent establishment (PE) remains one of the most critical issues for businesses operating across borders. Far from being a…

Although for businesses with a standard fiscal year the annual closing period runs in Hungary from January to the end of May, accountants prepare for this task throughout the year….

The former Business Automation business line of WTS Klient Business Advisory Ltd. will continue under the name Digital Solutions, offering an expanded service package to support di…

On 2 December 2025, the Hungarian Ministry for National Economy (NGM) published the draft decree on transfer pricing documentation and data reporting, aiming to completely overhaul…

Tax digitalisation, including the digitalisation of VAT has become a top priority in corporate financial processes. In recent years, the Hungarian tax authority (NAV) has taken sig…

On 30 October 2025, during the 9th National Tax Consultation, the Hungarian tax authority (NAV) published its roadmap for tax digitalisation over the coming years. According to the…

On 18 November 2025, the Hungarian Parliament adopted both the first and the second autumn tax packages. We have already covered the summer Hungarian tax package in June and the fi…

Below we summarise the most significant tax deadlines that must be observed before year-end. Our guide aims to ensure that, as the year draws to a close, affected businesses do not…

As the holiday season approaches, most companies are already deep in preparations for year-end closing: financial planning, annual reports, and setting goals for the upcoming year….

On 14 October 2025, a bill containing the Hungarian 2025 autumn tax package was submitted to the Hungarian Parliament. By amending the tax laws the legislators are aiming, among ot…

WTS Klient received an excellent rating, i.e. Tier 2 classification, in three categories in the ITR World Tax 2026 ranking, which means that the company is among the best tax consu…

Following a major overhaul in the spring, further amendments to Hungary’s regulatory framework for individual government decision (EKD) grants came into effect on 18 October 2025…

Next May, most large companies will have to publish their first Public CbCR on their websites, i.e., a public report containing their corporate tax information that will now be acc…

The journey of a product often doesn’t begin where it’s sold – and doesn’t end where it’s purchased. When a third-country company, i.e. a business based outside the EU, b…

UPDATE! The draft QDMTT advance tax return has been published on 15 October 2025. The global minimum tax (Pillar 2) has been one of the most pressing topics for tax and financial p…

On 7 June 2026, the European Union’s new Pay Transparency Directive will enter into force, bringing transformative changes to how the European labour market operates. Directi…

Effective from 1 October 2025, substantial changes will take effect in Hungary regarding extended producer responsibility, i.e. EPR fees, as well as service fees for products subje…

No permanent establishment in Hungary? If your company is registered outside the European Union – such as in Asia, North America, or other non-EU countries – and you plan to se…

In today’s business environment, efficiency, transparency, and swift decision-making are key drivers of competitiveness. More and more companies recognize that enterprise resourc…

September not only marks the end of summer and the start of the school year, but also a key deadline in taxation. Businesses in Hungary have to submit their applications for reclai…

Significant simplifications to the EU’s Carbon Border Adjustment Mechanism (CBAM) were approved by the European Parliament on 10 September 2025 under the legislative package know…

In times of globalisation, the importance of international employee deployment is growing. As a global company, you are therefore faced with the ever increasing complexity of manag…

Companies that adopt the calendar year for their financial year have recently fulfilled their tax return and reporting obligations for the previous financial year. The owners have …

Housing has become an increasing challenge for young people in Hungary, where rising property prices and rental costs put significant pressure on monthly income. This also impacts …

We would like to inform you that we have produced our fresh publication: Essentials of Doing Business in Hungary, to help with information the investing or starting a business in …

In the case of large-scale investments, complex cross-border transactions, or innovative tax structures, tax law uncertainty can pose one of the most significant business risks. A …

Electric vehicles are taking up an increasing share of company fleets – not only due to environmental benefits but also because of lower operating costs. Incorporating the compan…

Based on our tax audit experience and recent court rulings, it is clear that intra-group services are increasingly coming under scrutiny during tax inspections. Tax authorities now…

As of the 2024 tax year, major changes have taken effect concerning corporate income tax benefits related to research and development (R&D) activities. The new R&D tax ince…

We are delighted to announce that WTS Klient has once again been shortlisted for the ITR EMEA Tax Awards 2025, organised by International Tax Review (ITR). Being shortlisted is an …

On 25 June 2025, the European Commission adopted a new state aid framework in support of the objectives of the Clean Industrial Deal: the Clean Industrial State Aid Framework (CISA…

Companies now have more opportunities than ever to lawfully reduce their tax burdens and improve liquidity – even retroactively. In this article, we present a selection of favour…

In February, the Hungarian Tax and Customs Authority (NAV) initiated its first data reconciliation procedures in the area of online invoice reporting. The aim of this new process i…

On 11 June 2025, the Hungarian Parliament adopted the Hungarian summer tax package 2025, which introduces significant amendments across various areas of the Hungarian tax system, i…

On 16 June 2025, Government Resolution No. 1198/2025 (VI. 16.) was published in Hungary, containing detailed rules on the social contribution tax support programme for employers pa…

From September 2025 (instead of the previously planned date of 1 July), the Hungarian tax authority (NAV) will tighten business validation rules in the online invoice data reportin…

Non-EU businesses that do not have a permanent establishment or fixed place of business within the European Union are required to appoint a fiscal representative in order to conduc…

When planning to employ or be employed in Hungary, it is essential to understand the relevant labour law and taxation regulations. Whether you represent an international company, w…

WTS Klient Hungary has once again received the Reliable Employer title from the German-Hungarian Chamber of Industry and Commerce (DUIHK) for a three-year period, during the Member…

In May 2025, WTS Klient Hungary launched a new business line under the leadership of Miklós Andorka. With over a decade of experience in managing investment incentive schemes, the…

The Hungarian government regularly reviews and amends Government Decree No. 210/2014 (VIII. 27.), commonly referred to as the EKD Decree, which regulates investment incentives gran…

This year, there have been and will be several changes to the regulations and practices relating to simplified employment in Hungary. The amount of public levies payable by employe…

From 2026, half a million mothers in Hungary will be exempt from personal income tax, with this number increasing to one million by 2029. This follows the Hungarian Parliament&#821…

From next year, it will be easier for multinational groups (MNEs) to comply with the administrative obligations related to the global minimum tax (GloBE), including by allowing the…

On 11 March 2025, the European Union officially adopted the ViDA (VAT in the Digital Age) package, aiming to digitise the EU VAT system. The EU’s VAT reform will enter into f…

On 1 April 2025, WTS Klient opened its new office in Debrecen. The company, which offers comprehensive services covering all areas of business advisory, significantly increased its…

This spring, changes will come into force in the support system for investments in Hungary, as the related government decree (210/2014 (VIII. 27.)) will soon be amended. The aim of…

According to the amendment of the Government Decree 271/2001 on the amount of the waste management fine and the method of its imposition and determination, effective from 1 April 2…

The 2025 tax inspection plan of the Hungarian tax authority was published on 11 March, revealing the areas and obligations to which the tax authority will pay the most attention du…

In line with European and global trends, transfer pricing tax audits have played an increasingly important role in the practice of the Hungarian tax authority (NAV) in recent years…

According to the amendment to the Hungarian Act on Rules of Taxation, which entered into force on 1 January 2025, the Hungarian tax authority will require taxpayers to pay the amou…

At the end of April 2025, just over two months from now, the deadline for the refund of VAT on pharmaceutical tax payments, i.e. the VAT paid by pharmaceutical manufacturers and di…

Loss of equity can have serious consequences for companies in Hungary. Failure to solve the capital situation in time may lead to irreversible liquidation of the company. The main …

With the merger of VGD Hungary into WTS Klient Business Advisory Ltd, Noémi Lénárt continues her career as accounting director from 1 January 2025, announced the WTS Klient Grou…

With the merger of VGD Hungary into WTS Klient Business Advisory Ltd, Viktor Szabó will continue his career as a tax partner from 1 January 2025, announced the WTS Klient Group, w…

The affected calendar year taxpayers have already passed the first global minimum tax obligation, i.e. they have fulfilled the reporting obligation using the GLOBE form. However, b…

Failure to report online invoice data may result in even heavier penalties than before, as regulations has tightened in Hungary. Therefore, it is now particularly important for the…

On Thursday, 23 January 2025 a resolution was promulgated in Hungary, in which the Prime Minister expressed his agreement to the establishment of a double taxation treaty between H…

Paternal child care benefit or “father gyed” is not a new option in the Hungarian family support system, yet few people know about it and few people take advantage of it. Why i…

From this year, the legal conditions for providing fiscal representation services in Hungary have changed. Based on the amendment of Act CLI of 2017 on Tax Administration, fiscal r…

As of 1 January 2025, two of the leading players in the Hungarian accounting and tax advisory market, WTS Klient and VGD Hungary, have merged and continue to operate under the name…

The last day of the year is coming up, which is also the deadline for reporting data to the Hungarian tax authority for the global minimum tax. If you include the upcoming holidays…

As the saying goes, in the world of multinationals, the only thing that is constant is change. And market changes can be tracked most quickly by a well-structured shared service ce…

The Hungarian Parliament has adopted the 2025 tax law amendments. The majority of the proposals described in our earlier article and submitted on 29 October were adopted at the par…

In recent days and weeks, the Hungarian government has announced a number of changes to the fringe benefit system. Some of the amendments to the fringe benefit rules that will come…

Under Act LXXXIV of 2023 on Top-Up Taxes to Ensure a Global Minimum Level of Taxation and on Related Amendments to Certain Tax Acts (Minimum Tax Act), Hungarian members of groups t…

The inspection methods of the Hungarian tax authority are constantly being refined with the advancement of digitalisation. Besides the traditional inspections enabled by the Hungar…

The range of goods subject to the product fee is to narrow substantially in Hungary from 1 January 2025. Following the amendment to Act LXXXV of 2011 on the Environmental Product F…

On 29 October the Hungarian government submitted the draft 2024 autumn tax law amendments to the Parliament. By amending the tax laws the legislators are aiming, among other things…

WTS Klient has won a bronze award in the candidate experience category of this year’s HRkomm Award, the oldest and largest HR communication competition in Hungary. With this …

The obligations of newly established businesses should be reviewed from time to time due to the constantly changing legal environment. Apart from filing the right returns, newly es…

Loss of a loved one is an unexpected and painful event for anyone. It’s understandable and natural that we need time to process the loss, and deal with the funeral arrangemen…

The EU’s VAT package, the ViDA package (VAT in the Digital Age) could come into force as early as the beginning of next year, for example changes abolishing the rules on call-off…

A for-profit company is basically set up with the aim of distributing profits to the owners in proportion to their shareholding in the company, i.e. dividends. Dividends can only b…

Tamás Gyányi, András Szadai, Réka Kiss, Tamás László and Zoltán Cseri were also included this year in the ITR World Tax Leaders 2025, a compilation of the world’s bes…

WTS Klient Hungary has made it into the finals in more categories this year at the ITR Tax Awards 2024 than ever before. Thus according to the recently published lists WTS Klient c…

In December 2023, Parliament adopted a law amendment that changes the obligation for employers in Hungary to ensure a fitness for work test from 1 September 2024. But will everyone…

The question of a fixed establishment, especially in value added tax, remains a complex issue. This is true despite the fact that, in addition to the VAT Directive (2006/112/EC), C…

Another key player on the Hungarian accounting and tax advisory market, VGD Hungary, will be continuing its operations as part of WTS Klient Business Advisory Ltd. The owners of th…

In view of the armed conflict and humanitarian disaster in Ukraine, the Hungarian Government amended Act CL of 2017 on Rules of Taxation for the period of the declared state of eme…

We’re in the middle of summer, when even those who have been working hard and are just starting to browse the offers of accommodation providers on the various online platforms ar…

Under the name of WTS Legal, and led by the Nádasdy Law Office, the legal attorneys association cooperating closely with WTS Klient and WTS Global started its operations on 1 June…

Countless different purchases and sales of services, products and assets take place in the life of a company. These purchases must all be treated differently in the company’s boo…

Directive 2008/9/EC lays down detailed rules for the refund of value added tax, provided for in Directive 2006/112/EC, to taxable persons not established in the Member State of ref…

As we reported on earlier this year, from 1 January 2024 there are three possible ways to submit a VAT return in Hungary. You can still prepare form 65 through the ÁNYK system and…

This summer’s two main sporting events are the European Football Championship in Germany and the Olympic Games in Paris. However, the prices and availability of such high-profile…

[et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.15″] In one of our previous articles we presente…

As we approach the end of May, businesses are already well underway with preparations for their 2023 annual financial statements and tax returns. However, accountants who include d…

A few weeks ago we published our latest article on the role of artificial intelligence in tax consultancy, and not long before we covered the constantly improving intelligence of s…

The 2024 amendments to the legislation on business organisations have brought significant changes not only in taxation, but also in labour law, employment and health insurance. Som…

“You snooze, you lose” is a warning commonly heard in discussions about artificial intelligence. The possibilities and areas where artificial intelligence in tax consultancy ca…

At the end of 2023, the Hungarian National Assembly adopted the legislation referred to in the industry as the ESG law, i.e. Act CVIII of 2023 on the rules of corporate social resp…

Efforts to digitalise tax systems are coming increasingly to the fore, not just in Hungary but also at EU level. One of the main objectives of VAT digitisation – and the digitali…

One of the changes brought on by the Hungarian tax law amendments announced at the end of November 2023 is that previously acquired shares not notified to the tax authority can now…

One of the most significant changes in 2024 to the Act on Accounting is the introduction of deferred tax in Hungarian accounting thanks to the global minimum tax harmonisation, mea…

The CBAM reporting obligation is one of the latest EU measures to cut harmful emissions, and chiefly affects importers of carbon-intensive products. This measure will be implemente…

Summarising the 2024 tax amendments is not an easy task, since the detailed rules for many different taxes have changed based on the tax amendment proposals adopted in 2023, and in…

As of 1 January 2024, two of the leading players in the Hungarian accounting and tax advisory market, WTS Klient – which recently celebrated its 25th anniversary – and Finacont…

Both employers and employees will have to prepare for some major changes next year in Hungary. However, unlike in previous years, some of the rules on the minimum wage and the guar…

As already mentioned in our summary of the autumn tax law amendments, a government decree entered into force in Hungary on 16 November (enacted in law on 30 November) exempting cer…

The taxation of capital income from the USA was not left unscathed by the US Treasury Department’s announcement on 8 July 2022 terminating its 1979 double tax treaty with Hungary…

On 31 October 2023, the Hungarian government submitted to Parliament its 2023 autumn tax law amendments bill, which contains the planned tax amendments that will come into force fr…

The time comes in the life of every company when tried-and-tested accounting software loved and known by the accountant needs to be replaced by another one to meet the changing nee…

A group of Hungarian taxpayers will have to prepare for a new type of data reporting this year. The taxpayers are digital platform operators, who must complete the due diligence pr…

We have already written a lot about the taxation, social security and labour law issues of foreign workers, and we deal with expat employees on a daily basis in our work. In the ca…

After the start of the school year, the first usual annual deadline for most tax advisers is the 30 September deadline for reclaiming foreign VAT. We have summarised the five most …

Software robots are revolutionary developments. Blending information technology and artificial intelligence they have been developed to automate and optimise various activities and…

The top of the ITR ranking features Zoltán Cseri and Tamás László, two senior managers at WTS Klient, who are rated as “Rising stars” in the indirect tax category of the Wo…

The summer season will soon be over, but it’s still not too late to have a think about the tax issues that arise with accommodation services in Hungary.  This is because given t…

When setting up a business in Hungary, there are a number of issues that need to be clarified and then decided upon. In an earlier article we explored the obligations of start-ups,…

The EPR decree, i.e. Government Decree 80/2023 on the detailed rules of the extended producer responsibility scheme, appeared in Hungary on 14 March after months of waiting. Based …

Trusts and private foundations (asset management foundations) have been providing a regulated framework for wealth planning and long-term, tax-efficient asset management for a numb…

On 6 June the Government submitted to the Hungarian National Assembly its bill on contributions from airlines and amending certain tax laws. The 2023 spring tax amendments do not c…

Overnight on 31 May, a government decree was published in the Hungarian Gazette imposing a 13% social contribution tax on income from private savings, on top of the current 15% per…

Once registered with MOHU and the National Waste Management Authority (NWA), the majority of the companies falling under the extended producer responsibility system (EPR) were wait…

The owners of two leading entities on the Hungarian accounting and tax advisory market, WTS Klient Business Advisory Ltd. and Finacont Ltd., have decided to serve their clients in …

The ViDA proposal (VAT in the Digital Age) is a series of legislative measures proposed by the European Commission on 8 December 2022 aimed at modernising the workings of the commo…

We previously looked at own investments that represent equity investments, when a company buys back its own shares or stakes in its own business based on a resolution by its main d…

The Extended Producer Responsibility, or EPR scheme, will be up and running in Hungary in less than two months. Despite this, however, the rules on the EPR scheme are still not fin…

Hungarian legal regulations allow companies to keep their accounting records abroad in integrated consolidated systems, or to use a specialised global service centre in order to cu…

After months of waiting, Government Decree 80/2023 on the detailed rules of the extended producer responsibility scheme (EPR) was issued on 14 March in Hungary. The extended produc…

In previous articles we discussed the new data reporting obligation for corporate tax returns. With a view to facilitating transfer pricing reporting properly, the Hungarian Minist…

All business organisations have to ensure their capital adequacy in Hungary in accordance with the Hungarian Civil Code. Yet what does capital adequacy mean? When is there a proble…

The 2023 tax law amendments introduced significant changes to the taxation of real estate in Hungary. In terms of value added tax, you can even benefit from a relaxation of the rul…

There are always a lot of questions surrounding the accounting and bookkeeping of the Hungarian branches of foreign-registered companies. One of the areas exhibiting the most uncer…

Securities given to employees have today become a common form of remuneration. In such cases, the employer gives its own securities to its employees at a discount or free of charge…

New year, new legislation – which means that this year, just like at the beginning of every year, the focus is on changes to the tax rules. One of the most important changes affe…

2023 is starting with significant changes for employees and employers in Hungary: the introduction of new tax allowances, a new type of leave, only one account for SZÉP cards, and…

The need to pay salaries in foreign currency, or at least to peg wages to the euro, primarily arises for employees of Hungarian subsidiaries of foreign companies, but now also for …

The Klient group that provides complex business and financial consulting services will continue operating as a single company under the name of WTS Klient Business Advisory Ltd. fr…

It is often the case that renting out real estate involves more than one country, or more precisely, that a company wants to make some use of real estate in a country other than th…

The inevitability of digitalisation in business processes has been clear and evident for years in almost all sectors of the economy. The digital transition is also affecting the fi…

The Hungarian real estate market has seen quite a strong upwards trend in prices recently, and therefore in value too. As a result, the duty liability on real estate transactions h…

The digital transition is also affecting the finance sector. In fact, to increase work efficiency, data usability, to ensure better traceability of documentation and to reduce time…

On the evening of 18 October 2022, in a 104-page document, the Hungarian Deputy Prime Minister submitted to the National Assembly the latest proposals regarding the tax amendments …

Hungary currently has valid treaties with more than 80 countries on avoiding double taxation. In recent years, the number of concluded treaties has steadily grown, but in the middl…

Can companies operate productively in the current Hungarian tax environment? Should the Hungarian tax regime be changed in the wake of the energy crisis and if yes, which part of i…

We updated our article on 28 October 2022. The applicability of the 5% VAT on the sale of new residential properties in Hungary was extended by two years, until 31 December 2024, b…

The International Tax Review (ITR), Europe’s market-leading tax magazine, has prepared a list of the top-ranking tax consultants in the world for the 11th time this year. The cre…

Our clients often contact us with questions related to issuing invoices, such as how should invoices be issued correctly to clients, what content do invoices absolutely have to inc…

Businesses established in Hungary have until 30 September 2022 to reclaim foreign VAT. This means that companies may apply until this deadline for a refund of value added tax charg…

One of the most drastic changes to Hungarian tax law in recent times, the tightening of the low-tax system (KATA) came out of the blue in the Hungarian economy in mid-July. As a re…

This year, WTS Klient could be Hungary’s best tax, indirect tax and transfer pricing consultant firm according to the shortlists of the ITR EMEA Tax Awards 2022. The Internationa…

The term deferred tax rings familiar to Hungarian experts who are involved in the accounting of Hungarian subsidiaries of foreign groups and preparing their group financial stateme…

Reducing the corporate tax base by allocating a development reserve is a long-established method used by taxpayers in the Hungarian corporate tax system, which has been boosted by …

The bill submitted on 11 July 2022 and adopted the next day by the Hungarian Parliament, which contains significant amendments to the rules on the low tax scheme, is aimed at curta…

As we pointed out in our most recent WTS Klient Newsflash, as a result of Bill No. T/360 paving the way for Hungary’s central budget for 2023 submitted to the Hungarian National …

Not long after the introduction of the extra-profit tax and the increase of other existing taxes detailed in Government Decree No. 197/2022, new significant tax amendments were sub…

As part of the raft of measures referred to as the extra-profit tax by the Hungarian government, the rate of the company car tax is also to change from July. Although the tax packa…

After 31 May, a large number of accountants and businesses in Hungary can breathe a sigh of relief as companies with a normal financial year have submitted their annual tax returns…

The details of the so-called extra-profit tax announced earlier by the Hungarian government were revealed in the 2022/93 edition of the Hungarian Gazette on 4 June 2022. Government…

From 1 January 2022, a new tax-free benefit was added to Annex 1 of the Hungarian Act on Personal Income Tax, namely, tax-free bicycle use. Accordingly, private use of bicycles pro…

In recent months we have read and heard more and more about the SAF-T report or SAF-T data reporting, the latest technological development of the Hungarian tax authority. Let us ta…

Companies that adopt the calendar year for their financial year – i.e. most companies – have until 31 May 2022 to publish their financial statements for the previous year. The …

In December 2021 the European Commission published its proposed directive setting out the detailed rules of the global minimum tax in support of the implementation of the OECD Mode…

Beside optimising taxation and accounting processes, an important condition of efficient operation and profitability at every company is evading and exposing infringements, occupat…

The time has come again to prepare financial statements, annual corporate tax returns and local business tax returns. For many companies belonging to a multinational group, this me…

A recent European Court of Justice ruling affecting Hungary has answered an important question regarding VAT on advertising services. The judgment in case C-334/20 was published on…

ARX Equity Partners has acquired a majority holding in Klient Holding, the holding company of WTS Klient. The involvement of the Prague-based financial investor could be a mileston…

Today, EU and government grants have become a driving force of the economy in Hungary. Their availability is one of the crucial conditions for numerous market players and Hungarian…

For most businesses, preparing a business plan has never been an easy task, since future business plans are based, at least in part, on assumptions. There is usually a discrepancy …

Purchasing and upkeeping electric cars – besides it having a lower negative impact on the environment in terms of pollutant emissions compared to vehicles with internal combustio…

It can easily upset the life of businesses applying the call-off stock simplification rule if there is a shortage in call-off stock. In the case of such stock shortage, the conditi…

Foreign and Hungarian retail chains are also affected by the bill that the Hungarian government submitted to the National Assembly on 13 December and has since adopted. Bill no. 17…

Based on 68 thousand votes, WTS Klient was selected among the 200 winners of the Most Lovable Workplaces 2021 award out of 1600 companies in the competition announced by DreamJo.bs…

Almost hidden among the Hungarian government’s tax changes for 2022 (personal income tax rebate for parents, personal income tax exemption for people under 25, etc.) are provisio…

On 23 November, the Hungarian government submitted to the National Assembly its new tax law amendments for 2022, mostly tax cuts, in two highly significant bills. The key elements …

The OECD started developing the regulatory framework for a global minimum tax in 2019. As of today, the agreement has been signed by 136 countries which means that governments will…

Two years ago we summarised what the main and most frequent family support benefits are in Hungary. Yet we are now quite used to the amounts changing every year, what is more, the …

Personal income tax refund is currently one of the hottest topics in the Hungarian media. You can read and hear about them everywhere: parents raising children can expect their ref…

From 1 January 2021 the corporate taxation rules on creating a permanent establishment in Hungary were tightened in general. However, widening the definition of permanent establish…

International Tax Review (ITR), the world’s most acclaimed magazine on tax, and Euromoney Institutional Investor PLC prepare lists of the best tax advisory and transfer pricing a…

Having a multitude of policies is an integral part of the life of every business, along with constantly revising them and preparing new ones. The first of these policies, although …

There are various laws seeking to limit and minimise the use of cash between economic operators. This is understandable from a control and anti-money laundering perspective. At the…

As we wrote in an earlier article, based on the bill submitted last October and approved in November, in addition to the draft personal income tax returns – ePIT – Hungarian ta…

Both in the legislative and enforcement fields, much has happened since the Court of Justice of the European Union issued an order in the PORR case on 24 October 2019 in respect of…

The EMEA Tax Awards 2021 (Europe, Middle East and Africa Tax Awards) is the name given by the reputed tax journal, International Tax Review, to the European tax competition of the …

Registered office, permanent establishment, branch office, document storage location, place of central administration – terms which nearly all Hungarian businesses have encounter…

Decree 6/2021 (VI.25) PM published in the Hungarian Gazette on 25 June 2021 puts an end to the problems arising in connection with online data reporting for proxy invoicing, includ…

Section 50 (1) of Act CXCV of 2011 on Public Finances (Public Finances Act) stipulates that budgetary subsidies may be granted to Hungarian entities that – among other things –…

In Hungary, various procedures used to require a no-debt certificate, which generally had to be presented in the original paper format. As part of the recent process to reduce admi…

Nine new government decrees, including several tax amendments, appeared on 9 June in issue 2021/107 of the Hungarian Gazette. On the same day, issue 2021/106 of the Hungarian Gazet…

A merger is a very special event in the life of business entities. In this context, one or more companies are taken over by another based on an owner decision. In practice it means…

When preparing annual personal income tax returns in Hungary, every year both taxpayers and tax consultants face the problem that it is very difficult to classify certain types of …

The 2022 bill, which was submitted by the Hungarian Minister of Finance to the National Assembly on 11 May, summarises the tax amendment plans of the Hungarian government. Bill No….

In previous articles of our series we reviewed how to prepare for a voluntary liquidation, what the voluntary liquidation procedure is, what taxation issues can arise, what to look…

Similar to the first and second wave of the pandemic, the Hungarian Ministry of Finance and the National Tax and Customs Administration are trying to help companies affected by the…

Over the past two years I have gained first-hand experience on the specificities of support for spectator team sports through corporate tax since, to realise my long-cherished drea…

Personal income tax base allowances are to be extended with a new element next year. The allowance for young people under 25 can be claimed from January 2022 up to the average nati…

In our article last November we wrote about the details of the housing support action plan to be introduced in Hungary from 1 January 2021. As a result of the legal amendments impl…

Member States have until 17 December 2021 to implement in their national legislation the EU directive that makes it compulsory for certain entities to establish and operate a whist…

The amendment to Government Decree 261/2011 (XII.7) entered into force on 1 January 2021, signalling the launch of the BIREG system in Hungary. The government decree concerns road …

In recent years the European Commission has compiled a legislative package that reforms the regulation of online commerce, among other things by extending one-stop shop systems. Th…

The system of personal income tax base allowances has changed a lot in Hungary in the past few years. In our article below we will describe what types of tax base allowance an empl…

In January 2021, the French business law firm Fidal joined WTS Global as the newest member of the leading global tax practice. Founded originally as a tax firm in 1922, Fidal today…

The COVID-19 pandemic has had tangible impacts on all economic operators. Some sectors have been hit badly, others less severely, and of course there are sectors that have emerged …

Non-refundable support for employing highly qualified experts in the Hungarian research, development and innovation (RDI) sector during the state of emergency is available again fr…

We updated our article on 29 April 2021. It has been nearly two years since our analysis summarised the tax consequences of Brexit, which at the time was planned to take place on 2…

In our last Newsflash published at the end of November we took a detailed look at the most important tax law amendments for decision-makers in 2021 including, among others, the abo…

In an earlier article we touched on the legal changes effective in Hungary from 1 January 2021 to ease administration related to the Electronic Public Road Customs Transit Control …

The popularity of branch offices in Hungary is unrelenting, and they are perhaps even gaining in popularity among foreign investors compared to establishing a subsidiary. Below we …

The amendment to Hungarian Act CXLVII of 2012 on the Fixed-Rate Tax for Low Tax Bracket Entities (Hungarian abbreviation: KATA) and the Small Business Tax, which will enter into fo…

The Hungarian National Assembly has accepted next year’s tax amendments submitted in October under the title of 2021 tax amendments. The majority of the proposals described in ou…

As an expert of business automation, I was really looking forward to the introduction of online invoicing. In my experience, Hungarian businesses put a lot of effort into administr…

[et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.15″] With the tax payment relief the Hungarian g…

Exemption from social contribution tax and the raised allowance for fringe benefits paid to SZÉP cards will be extended for six months together with the strict regulation on acqui…

The bill including the reintroduction of the 5% VAT on homes was submitted to the Hungarian National Assembly on 27 October. Bill T/13477 submitted to Parliament includes the amend…

A recently published judgment of the Court of Justice of the European Union may end a VAT issue which has been causing headaches for many years. The interpretation of the court may…

With the submission of bill no. T/13258, the 2021 tax law amendments were presented to the Hungarian Parliament on 13 October. Some of the changes ensure compliance with EU regulat…

WTS Klient Hungary is in “Tier 2” for the third year in a row, giving it an outstanding rating in the lists of the world’s best tax advisory and transfer pricing advisory fir…

The Hungarian Minister of Finance recently announced an increase in the sales revenue limit for joining the small business tax (KIVA) system, from HUF 1 billion (roughly EUR 2.8 mi…

Member States had until 30 July 2020 to transpose the European Union directive that revised the concept of cross-border postings into their national legislation. The purpose of Dir…

In line with previous announcements, from 1 January 2021 the online invoice 3.0 system will be launched as the third and final step of expanding online data reporting for invoices …

As written in one of our earlier articles, according to Hungarian law several different financial statements must be prepared during voluntary liquidation. In this article we will …

With the approval of the bill laying down the grounds for Hungary’s 2021 central budget, the administration burden caused by the Electronic Public Road Customs Transit Control Sy…

Under the economy protection action plan, the Hungarian government introduced a number of tax relief measures to alleviate the economic impact of the coronavirus pandemic. Under Go…

As a result of the restrictions introduced in the wake of the 2020 coronavirus pandemic, many Hungarians working abroad and foreigners posted to Hungary have returned home. While t…

On 3 July 2020 the Hungarian National Assembly accepted the bill on the 2021 budget. The law contains many material tax changes for 2020 and 2021. One of the main parts of the 2020…

A comprehensive tax package was adopted by the European Commission on 15 July in the fight against tax evasion and tax abuse. The two keywords in the EU action plan are fairness an…

In some companies, the cyclicality of business may justify preparing the annual financial statements presenting the activities and operations of the business for a financial year t…

Act LXVI of 2020 enters into force in Hungary on 8 July, according to which duties are no longer payable on property transfers between siblings. The Act was adopted by the Hungaria…

On 3 June the permanent members of the European Council accepted the proposal of the European Commission that DAC6 data reporting deadlines pertaining to cross-border arrangements …

How long do you have to keep certain documents and accounting documents? What do you have to archive on paper, and what electronically? What happens if different regulations prescr…

As originally planned, online invoice data reporting will be expanded from 1 July: there will be no postponement of this even in spite of the coronavirus pandemic. It is vital to b…

Having being crowned with the title of Reliable Employer 2018-2019, WTS Klient Hungary has now been awarded the title of Reliable Employer 2020-2021 by the German-Hungarian Chamber…

Government Decree 227/2020 (V.25) “on measures of economic protection for business entities with a registered office in Hungary” was published in the 25 May 2020 edition of the…

On 12 May the Hungarian Ministry of Finance and the National Tax and Customs Administration (NAV) published very detailed information about the evaluation of the taxation aspects r…

In recent days and weeks in Hungary we have had to familiarise ourselves with a number of regulations affecting taxation. It is not easy to come to grips with the changing legal en…

On 28 April, besides the bill on the special retail tax, the Hungarian Government also submitted a bill to the Parliament on the necessary amendments to certain tax laws in order t…

On 28 April the Ministry of Finance submitted a bill on the special retail tax to the Hungarian National Assembly. Enshrining in law the special retail tax that was promulgated two…

Similarly to the previous three years, in 2020 WTS Klient Hungary is again among the top five Hungarian tax advisor and transfer pricing firms in Europe’s most prestigious compet…

Medium-sized and large companies in Hungary could receive up to EUR 800,000 in a non-repayable competitiveness subsidy for their investments if they are experiencing economic diffi…

The majority of Hungarian businesses need to meet their obligations to prepare and publish financial statements and to file tax returns and pay taxes until 30 September. The latest…

The coronavirus pandemic is undermining many Hungarian businesses, even making it impossible for them to operate. Many entities are being forced to partly or fully suspend their ac…

Hungary is to introduce a special tax on credit institutions and a retail tax on 1 May. Government Decrees 108/2020 and 109/2020 on filling up the Pandemic Fund established to exec…

On 10 April 2020 Government Decree 105/2020 (IV.10) on subsidising employment with shortened working hours during the state of emergency under the Economy Protection Action Plan (h…

On Monday 6 April, Viktor Orbán announced a new set of measures to mitigate the economic impact of the state of emergency declared as a result of the coronavirus pandemic. The eco…

The recently published measures on taxes and contributions brought in by the government (as part of the economy protection action plan) were not yet known when this article was wri…

Following the measures announced on 18 March, at midnight on 23 March the Hungarian Gazette published the second economic rescue package compiled by legislators to alleviate the im…

In light of the extraordinary circumstances at present WTS Klient Hungary can prepare expat returns without personal contact, and all the technical conditions are in place to file …

The Hungarian legal system is to expand the scope of the online data reporting obligation for invoicing to almost all transactions in two stages, from 1 July 2020 and 1 January 202…

The first case of the coronavirus infection in Hungary was reported on 4 March 2020, and the first death caused by the disease on 15 March. The Hungarian government set up the Oper…

Significant changes have taken place in the accounting treatment of project accounting in Hungary from 2020. With this change, the Hungarian Act on Accounting has taken another ste…

On 1 July 2020 the new Act on Social Security, i.e. Act CXXII of 2019 on the Eligibility for and Funding of Social Security Benefits, shall replace the current Act LXXX of 1997 and…

In January 2020, WTS Klient launched a new business line led by economist and IT expert János Németh. WTS Klient Business Automation Kft. offers automated business solutions for …

As we already covered in a previous article, Hungarian business entities – companies in particular – must communicate electronically with the state in accordance with Act CCXXI…

Take advantage of the small business tax (Hungarian abbreviation: KIVA)! – this was the title of the notification sent to the business gate accounts of Hungarian companies by the…

The majority of businesses have most probably already encountered a situation where one of their customers could not pay, therefore their receivable turned into an irrecoverable de…

On 3 December 2019 the Hungarian National Assembly approved the autumn tax law amendments entitled “Bill for the amendment of certain laws designed to implement various tax measu…