Thursday 11 June 2020

Postponement of deadlines for financial statements and yearly-taxes

The Hungarian government has further eased the following tax and accounting provisions:
 



The deadline for tax reporting and tax payment obligations has been moved from 31 May to 30 September for corporate income tax, local business tax, innovation contribution, small entrepreneur’s tax (KIVA), income tax of energy suppliers and similar taxes.
 

The rule is also eligible to taxpayers having a business year deviating from the calendar year. Thus, deadlines falling between 27 April and 30 September have been moved to 30 September.
 

The reporting deadline for tax advance payments has been also postponed until 30 September 2020. The advance payments can be carried forward or the taxpayer may request a reduction prior to the deadline of the first payment.
 

The obligation to prepare and publish the annual report has been delayed until 30 September 2020, with exception for companies of public interest (e.g. corporations traded on the stock exchange of the European Economic Area, financial institutions, insurance companies, etc).