News, analyses, publications

As discussed in our previous tax newsletter, the United States have sent an official notification to Hungary last summer in which the United States made it clear that it unilaterally decided to terminate its effective tax treaty with Hungary on the avoidance of double taxation (hereinafter: Treaty). Considering [...]

The Government Decree 80/2023 (III. 14.) (hereinafter EPR Decree), which sets out the detailed rules for the operation of the extended producer responsibility system, was published in the Hungarian Official Gazette no. 37 in 2023. The basic principle of extended producer responsibility is that the costs of waste [...]

In our previous newsletter we have introduced the reader to the key measures of the “VAT in the Digital Age” Council proposal. Now we will be focusing on the most considerable first pillar, namely the introduction of the standardized EU-level invoicing and invoice data reporting and give a [...]

Professional consultation has been started on the introduction of paperless receipt, coordinated by the Hungarian Tax Authority. The new system, which is in sight, will replace the current online cash register and computerized receipt issuance, while further reducing the possibility of manual receipt issuance. To reduce the administration [...]

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) [...]