Fiduciary trusts as a legal institution are one of the latest steps in the development of Hungarian civil law. Since their introduction in 2014, they have become more widely used and more widely known. We would now like to present the legal background of this legal instrument, focusing more on the person of the trustee. […]
After a lengthy debate, the Hungarian Parliament has passed the law on additional taxes to ensure a global minimum tax level and, in this context, amending certain tax laws, putting an end to the case. Before we start getting angry that another tax has to be paid by our company, let’s clear: we don’t have […]
Personal Income Tax From 12 September 2023, the Hungarian Personal Income Tax Act will consider the transfer of assets as a sale. This means that the settlor will have to pay tax on the difference between the contract value of the assets transferred and the amount spent on their acquisition. The trustee will have to […]
On 24 July 2023, the so-called Complaints Act came into force, which covers a wide range of employers, so we have gathered the most important questions and details about the so-called whistleblowing system. The new law repealed the ‘old’ law, which was Act CLXV of 2013 on Complaints and Public Interest Disclosures. The new Complaints […]
The Hungarian Gazette of 14 July 2023 contains the provisions of the bill submitted on 6 June, which have now been incorporated into law. In the Act on the Contribution of Airlines and on the Amendment of Certain Tax Laws, we can observe changes affecting almost all tax types, several of which will significantly affect […]
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.
The holding companies are widely used for a lot of different business purpose such as asset protection for families or direct investments of private equity funds, etc. Since the Hungarian Trust is subject to corporate income tax it also benefit the same CIT benefits but has extra features. What makes them usage attractive. 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 […]
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. […]
On December 22, 2021, the European Commission presented a key initiative against shell companies, which are created for tax avoidance purposes. The Unshell proposal is intended to ensure that legal entities which provide neither a real product nor an actual service to customers in the European Union cannot benefit from tax benefits and […]
