For many business owners, it seems self-evident that if the company’s accounting is in order, there is little else to worry about from a tax perspective. The accountant prepares tax returns, processes accounting documents, and monitors filing deadlines, making it easy to assume that the business is also fully compliant with tax regulations.
In recent years, an increasing number of individuals have turned to trust asset management structures (TAMs) as a tool for the long-term management and protection of family wealth, including businesses, real estate, and other investments. Many have also used these structures to facilitate intergenerational wealth transfers.
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The accounting of Hungarian subsidiaries belonging to international corporate groups is more complex than that of a purely Hungarian company, as they must comply not only with Hungarian regulations but also with group expectations and international accounting standards.
