Tax changes 2021

In the following we focuses on the most important recent tax related law changes. Further amendments are expected with respect to accounting, car tax, excise tax, etc.

Tax changes autumn 2020

The following recent law changes at this point in time, the amendments shall be understood as a guideline for future changes, and not a reference. The final version of the new rules is awaited in the coming days. The following focuses on the most important rules. Further amendments are expected with respect to accounting, car tax, excise tax, etc. After the official publication of the tax law modifications, we will inform you on this latest package in more detail.

Throwback to the summer tax package 2019- Part 1

In our present series of articles we give you a throwback to the most important changes that came into force as a result of the summer tax package 2019.

Breaking news - The latest tax package draft has been released

On 19 October 2018, a new tax package was presented to the Parliament. Please find the most important amendments of the package here: the threshold of VAT exemption for SMEs will be raised to HUF 12 million, collective corporate taxation is coming, the international tax information exchange increases, the personal income tax liability of insurances taken out by employers is re-regulated, and, last but not least, the rules on the abolition of employer housing subsidies will be clarified.

New CIT rate in Hungary

As of 1 January 2017, Hungary reduces its corporate income tax rate to flat 9% instead of the currently applicable progressive 10% / 19%. The new rate is applicable for all taxable persons without any activity restrictions.

Changes in the Accounting Act, 2016

Our current post provides you with information about the major changes in the Hungarian accounting legislation effective as of 2016. The amendments mainly aim to comply with EU directives unification. In addition, the modifications also aimed to converge the Hungarian thresholds with the EU levels, and also to harmonize the accounting legislation with tax and civil law regulations.

Growth tax credit for corporate income tax in Hungary

The most important amendment to the corporate income tax rules in Hungary for 2016 was the introduction of the so-called growth tax credit. This is a form of tax deferral which is available to limited number of taxpayers who meet the strict conditions. Please find below a summary of the respective rules.

2016 amendments to the VAT and invoicing legislation in Hungary

The new year brought several changes connected to VAT too.