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...

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...

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...

On 12 March 2023 a new corporate tax law on tax amnesty and tax debt restructuring, Law No. 7440 has entered into force in Turkey. In accordance with the new corporate tax law, Tu...

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...

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 ...

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...

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...

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...

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...

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...

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...

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...

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....

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...

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...

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...

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...

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...

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...

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...

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...