Author: Dr Hancz Patrik

Wealth planning quick course: the private foundation, Part 3

In the next four posts, we will discuss the foundation, the private foundation, the trust, and the trust foundation in a few thoughts, summarising the most important facts. We will look at all four institutions from the same perspective, which we will summarise in a table for our readers at the end. The topic of […]

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Wealth planning quick course: the trust foundation, Part 2

  In the next four posts, we will discuss the foundation, the private foundation, the trust, and the trust foundation in a few thoughts, summarising the most important facts. We will look at all four institutions from the same perspective, which we will summarise in a table for our readers at the end. The topic […]

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Wealth planning quick course: the foundation, Part 1

In the next four posts, we will discuss the foundation, the private foundation, the trust, and the trust foundation in a few thoughts, summarising the most important facts. We will look at all four institutions from the same perspective, which we will summarise in a table for our kind readers at the end. The topic […]

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Happy New Year, happy taxation! Tax changes for 2023

Many of the changes came into force on 1 January 2023, so we had relatively little time to familiarise ourselves with and interpret them. We have compiled the most important details of the changes in this article. For those who would like to look at the amendments in more detail, we recommend that you consult the relevant issue of the Hungarian Gazette, which can be accessed by clicking here. At each point you will find links to our previous articles to ensure that everything you need to know about taxation is in one place.

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What is ADR? Thoughts on Alternative Dispute Resolution

The terms court, judge, defendant, plaintiff, etc., certainly sound familiar, but do you know that we have other options in order to resolve and close legal disputes and disagreements apart from litigation? The new professionals appearing during alternative dispute resolution are called, for example, mediators or arbitrators. Mediation, arbitration, litigation? In the following, we will […]

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Another abbreviation? Yes! The FATCA statement

In one of our previous articles, we already talked about abbreviations such as AML, PMT, UBO, PEP, CCD, or KYC, and we also talked about the FCPA. How many and how many abbreviations. If we want to see the whole picture, we cannot leave FATCA out of the list either. Our topic today is the […]

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An interesting tax base decreasing item in Hungary

Today, we are going to deal with early-stage businesses, i.e., startups. Our examination aspect is one of the decreasing items used when determining the tax base, i.e., that which decrease the earnings before taxes. We will look at the most important detailed rules regarding, for example, when a business is considered an early-stage business, who […]

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KYC, PEP, CCD, UBO? Words from everyday life

Did you go to a lawyer, a bank, an accounting firm, or perhaps you created a fiduciary asset management legal relationship and had to sign all kinds of identification documents and provide a lot of data? Today, we will find out the most important concepts used in this case. Let us look at what is […]

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The concept of the permanent establishment in Hungary

During our previous posts; we looked at the issue of corporate tax in some form. We talked about the global minimum tax; according to which large companies operating in the EU would be taxed with a global minimum effective tax rate of 15%. We also looked at foreign controlled companies; where the concept of a […]

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Our biggest fear: tax penalty

In our blog post today, we will talk about penalties and related concepts. There are lots of expressions in this field that we come across in everyday life, and in the worst-case scenario, we are even the “victims” of a tax penalty, but it is not easy to recognize ourselves among so many legal references. […]

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