Category: Tax Planning

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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Hungarian Trust as an alternative of holding company

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 […]

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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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The end of the world of shell companies?

    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 […]

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The tax burdens of the company car

Previously, we reviewed the details of the company car tax rules. We wrote about the tax in a separate post, as the regulation is quite substantial and was amended in July, so it deserved due attention. In the following, we review the rest of the (tax) burdens of buying a company car.   Vehicle tax […]

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With or without you? Thoughts on the global minimum tax

In the past few days, five EU member states have indicated that – with or without Hungary – they will apply the provisions of the global minimum tax. The blog post below gives a general overview of exactly what this global minimum tax is and looks at what the debate is about. First of all, […]

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The dark side of being classified as a risky taxpayer

The past few days we talked about the taxpayer classification a lot. We had a look on the classification and saw the advantages of being a reliable taxpayer. Today, we continue this theme because where is reliable taxpayer, there is of course risky taxpayer. So, today’s article is about the risky taxpayer. First of all, […]

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The advantages of being classified as a reliable taxpayer

Yesterday, we talked about the taxpayer classification, and we saw the conditions to be a reliable taxpayer. Why is good for us to be a reliable taxpayer? We will have a look on the advantages of being classified as a reliable taxpayer. As we mentioned it previously; the purpose of taxpayer classification is to provide […]

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To be or not to be a reliable taxpayer?

Have you ever heard about the taxpayer classification? The purpose of taxpayer classification is to provide taxpayers settling their tax liabilities voluntarily and in time should enjoy certain advantages as reliable taxpayers; specified by law; relative to non-compliant taxpayers who are thus subject to certain stricter rules. The Tax Authority reviews once a quarter whether […]

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