News, analyses, publications
Changing accountants is not only a professional decision for many businesses, but also an organisational one. In addition to choosing a new accounting provider, it is important to consider how the previous accounting records will be handed over, what documents will be required, and how much of the [...]
An accountant can provide an accurate picture of a company’s performance and financial position for the year if the documents, business information and management decisions required for the year-end closing are made available on time. With a few simple steps, management can help ensure that the year-end closing [...]
Hungary’s central European location, EU market access, and competitive 9% corporate income tax rate make it an attractive base for regional operations. However, establishing and running a business in Hungary requires careful consideration of local corporate, tax, employment, and reporting requirements from the outset. Choosing the right legal [...]
"Live and learn" goes the saying. The fact that the new school year marks a fresh start not only for pupils but also for those involved in transfer pricing matters—where there is still much to learn—has become evident with the release of a new ministerial decree and the [...]
An audit is a recurring annual process for many businesses. Behind the scenes, it is a comprehensive engagement that often spans several months and is designed to determine whether a company's financial statements present a true and fair view of its financial position. An audit is not merely [...]
The Hungarian tax system encourages research and development through various incentives. Corporate income tax payable for a given tax year may be reduced to zero, while, through the appropriate combination of tax base allowances, local business tax, innovation contribution and employment-related tax liabilities may also be reduced. However, [...]
Case C-513/24 – Oblastní nemocnice Kolín The fact that a hospital, which also provides taxable services, is required to acquire certain equipment in order to obtain an operating licence does not automatically entitle it to a partial right of deduction. For each acquisition, it must be examined how [...]
Case C-472/24 – MB “Zaidimų valiuta” The exchange of a virtual means of payment that can be used exclusively within an online video game into traditional currency, or vice versa, cannot qualify as a VAT-exempt currency transaction. The VAT treatment of transactions involving “assets” that exist only virtually [...]
C-436/24 – Lyko Operations AB Points granted upon purchase, which may only be redeemed for low-value goods in the context of a subsequent purchase and are otherwise non-transferable and not capable of circulation, do not qualify as “vouchers” for VAT purposes. The plaintiff is a Swedish company engaged [...]
T-638/24 – D GmbH In the case of an intra-Community acquisition of goods, a VAT payment obligation arising as a sanction for the use of a VAT identification number issued by a Member State other than the Member State of destination, and the VAT payment obligation connected with [...]
T‑643/24. – Cristian General Serv SRL The CJEU’s recently published judgment provides another instructive example that payment obligations of a “penalty” nature may also form part of the VAT taxable amount where they are linked to a service that has been supplied and received. In a hotel located [...]
At the beginning of January 2026, the OECD published a document in connection with the global minimum tax introducing the so-called “Side-by-Side” system. The document sets out a political and technical agreement on the parallel and complementary operation of the global minimum tax and domestic tax systems. In [...]