Several VAT rates are used: it has been long overdue in the case of food, the reduction of VAT in hospitality has not really been thought out in detail, and the reduced VAT rate of the Internet is rather a political will than an economic decision. The reporting obligation concerning online billing is significantly tightened […]
The personal income tax has been amended on several points during the year as well. In the following part we present those changes in SZJA, KATA and EHO (health care contribution) that are considered the most important and have taken effect since 16 June 2016 or will take effect from 1 January 2017. SZJA (personal […]
Corporation tax was changed during the year, in order to carry out the “OECD BEPS Action Plan”, and in the autumn two amending packages were brought to the Parliament, which already include new rules for 2018 as well. Since the new rules of small business tax (KIVA) are easier to understand, it has become easy […]
From next year on it is only possible (recommended) to use billing software that complies with the new requirements and forwards the details of the issued invoices real-time to the tax authority. From January 2017 developers of billing software are required to incorporate this new function in their applications, and from the second half of […]
The prime minister of Hungary said the coporate tax will be 9% in Hungary for all corprate tax payer. The general corporate tax rate currently 19% and if the profit of is under HUF 500 million, the discounted rate is only 10%.
Source: Moody’s Global Credit Research – 04 Nov 2016 London, 04 November 2016 — Moody’s Investors Service, (“Moody’s”) has today upgraded Hungary’s long term issuer and senior unsecured government bond ratings by one notch to Baa3 from Ba1. The outlook on the rating is stable. The key drivers of the rating upgrade are: (1) The […]
www.itpa.org 16 December 2015, the European Parliament approved a resolution setting out the legal steps needed to improve corporate tax transparency, coordination and EU-wide policy convergence. The move to counter aggressive corporate tax planning and evasion by multinationals in Europe was triggered by the November 2014 “Luxleaks” revelations. The EU Commission will have to respond […]
According to the bill recently submitted to the Parliament about the proposed changes of the tax rules of Hungary from 2016, the non-resident online stores has to pay Environmental Product Tax in Hungary if the company has VAT registration in Hungary. The online stores and any distance selling companies have to be registered in the […]
In accordance with the new Civil Code 2013 of Hungary the mandatory minimum initial capital requirement was lifted for the KFTs (limited liability company) to 3 million HUF. The new Civil Code 2013 is effective from 15 March 2014, the fromerly registered KFTs have to satisfy the new capital requirement until 15th of March 2016. The provision in […]
Hungary Company Formation Survey – OI 2015