Payment facilitation
Payment difficulties caused by the Corona-crisis shall be understood as force majeure and thus, as evident. In this regard, the Hungarian Tax Authority may, upon request, allow automatically for deferral of payments or payment in instalments, either without additional charges (interest). If taxpayer is, due to solvency problems caused by the Corona-crisis, still unable to meet his obligations the taxpayer may request a new debt rescheduling.
Corporate taxpayers may request a one-time tax reduction within 30 days following the end of the state of emergency if the payment would otherwise have negative impact on the taxpayer’s business resulting from the Corona-crisis.
The reduction is limited to one tax and is, with respect to the amount, capped by 20% or HUF 5 million (approx. EUR 14,000), whichever is lower. The remaining 80% of the tax must be settled without claiming any further tax breaks.
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LeitnerLeitner
Address: 1027 BUDAPEST, Kapás utca 6-12.
Telephone: +36 1 279 2930
Fax: +36 1 209 4874
Email: office@leitnerleitner.hu
Web: http://www.leitnerleitner.hu/
Payment difficulties caused by the Corona-crisis shall be understood as force majeure and thus, as evident. In this regard, the Hungarian Tax Authority may, upon request, allow automatically for deferral of payments or payment in instalments, either without additional charges (interest). If taxpayer is, due to solvency problems caused by the Corona-crisis, still unable to meet his obligations the taxpayer may request a new debt rescheduling.
Corporate taxpayers may request a one-time tax reduction within 30 days following the end of the state of emergency if the payment would otherwise have negative impact on the taxpayer’s business resulting from the Corona-crisis.
The reduction is limited to one tax and is, with respect to the amount, capped by 20% or HUF 5 million (approx. EUR 14,000), whichever is lower. The remaining 80% of the tax must be settled without claiming any further tax breaks.
Automatic tax relief
The scope of the automatic tax relief has also been extended, any taxpayer can apply for a 12-month instalment payment or a six-month interest-free payment deferral for any tax type with a maximum amount of HUF 5 million. The payment facility may be, in exceptional circumstances, also claimed for contributions and the personal income tax as withheld from the salary payable to the employees.
The scope of the automatic tax relief has also been extended, any taxpayer can apply for a 12-month instalment payment or a six-month interest-free payment deferral for any tax type with a maximum amount of HUF 5 million. The payment facility may be, in exceptional circumstances, also claimed for contributions and the personal income tax as withheld from the salary payable to the employees.
Electronic Road Toll (EKAER) system
Guarantees paid to the Electronic Road Toll (EKAER) system shall be eliminated for the period of pandemic, the removal applies until the 30th day following the end of the state of emergency. Such funds must be, therefore, refunded to the taxpayer, including the waiver of bank guarantees.
Reliable taxpayer status
The reliable taxpayer status cannot be lost during the crisis; the taxpayer will be considered as reliable for the period of the pandemic until the 30th day following the end of the state of emergency.
Postponement of deadlines
The deadline for yearly tax reporting (not extended to so-called companies of public interest; e.g. corporations traded on the stock exchange of the European Economic Area, financial institutions, insurance companies, etc.), tax payment obligations (e.g. corporate income tax, innovation contribution, local business tax) and the preparation and publication of annual financial statements has been moved from 31 May to 30 September. Tax advance payment deadlines has also been postponed to this date (30 September).
Guarantees paid to the Electronic Road Toll (EKAER) system shall be eliminated for the period of pandemic, the removal applies until the 30th day following the end of the state of emergency. Such funds must be, therefore, refunded to the taxpayer, including the waiver of bank guarantees.
Reliable taxpayer status
The reliable taxpayer status cannot be lost during the crisis; the taxpayer will be considered as reliable for the period of the pandemic until the 30th day following the end of the state of emergency.
Postponement of deadlines
The deadline for yearly tax reporting (not extended to so-called companies of public interest; e.g. corporations traded on the stock exchange of the European Economic Area, financial institutions, insurance companies, etc.), tax payment obligations (e.g. corporate income tax, innovation contribution, local business tax) and the preparation and publication of annual financial statements has been moved from 31 May to 30 September. Tax advance payment deadlines has also been postponed to this date (30 September).
LeitnerLeitner
Address: 1027 BUDAPEST, Kapás utca 6-12.
Telephone: +36 1 279 2930
Fax: +36 1 209 4874
Email: office@leitnerleitner.hu
Web: http://www.leitnerleitner.hu/
