News, analyses, publications
The European Commission submitted the long-awaited VAT in The Digital Age proposal package on 8 December 2022. Once it is adopted by the Council, it will be the most significant improvement since the introduction of the common VAT system. In our present newsletter, we will be highlighting the [...]
The Ministry of Finance released the draft amendment to the decree on the registration of arm’s length price determination for social consultation. The draft contains two essential changes: on the one hand, it requires detailed information on related transactions in the corporate tax return, which must be completed [...]
On 12 December 2022, the EU Member States have reached a unanimous agreement to implement the Directive on the global minimum taxation and advised the European Council to launch the formal adoption of the relevant Directive. The Directive has to be transposed into member states’ national law by [...]
In this newsletter, we would like to inform you about the most significant tax law amendments of the 2023 Tax Package published on 23 November. Personal income tax Favorable changes regarding the election and application of flat-rate taxation come into effect from 1st of January: Flat-rate taxation will [...]
Following the Government decree 298/2022 on the payment of corporate income tax in foreign currency published in August, taxpayers will also have the option to pay local business tax and tax advances in foreign currency from 2023, according to the Government decree 366/2022 published last month, representing further [...]
Most taxpayers may have not anticipated the 2022 summer tax package, nor the two additional measures that have also resulted in changes. However, the most recent changes are not about introducing new taxes or restructuring of a current one, but to retain two preferential tax rules. In the [...]
The United States gave Notice of Termination to Hungary in relation to the U.S-Hungary double tax treaty. On 8 July 2022, The Government of the United States took an unusual measure by sending a formal notification to Hungary with the intention to terminate the effective double tax treaty [...]
The judgement of the European Court of Justice (ECJ) in case C-333/20. Berlin Chemie A. Menarini is a new milestone in the interpretation of the concept of ‘fixed establishment’. From the viewpoint of the recipient of the services, the concept of fixed establishment is determined by Article 11(1) [...]
On 22 December 2021, the European Commission published a proposed Directive targeting aggressive tax planning techniques linked to the use of shell companies. On this basis, starting from 2024, all legal entities tax resident in the European Union (EU), irrespective of their company form, will be classified through [...]
The two-pillar initiative of the OECD and G20 countries was originally drafted about two years ago with the aim to combat harmful tax practices and create a fairer global system for corporate taxation. […]
A new bill (Act CXXXI of 2021), published on 17 December 2021, aims to mitigate the payroll tax burdens raised in connection with the hike of the minimum wage for 2022. […]
In the Hungary-related case of FGSZ Földgázszállító Zrt., the European Court of Justice (ECJ) held that the limitation period for VAT-reclaims on bad debts should be calculated from the date when the receivables had been recorded as irrecoverable, notwithstanding the limitation period of the VAT liability on the [...]