Do not fall into a VAT Trap: Manufacturing or Toll Manufacturing Makes a Huge Difference

Hungary is often mentioned as a country of manufacturers, but there is a significant difference from a tax point of view between manufacturing independently or on demand, when a foreign customer engages a Hungarian firm to make products using the customer’s raw materials. And it can be expensive to make a mistake in evaluating the nature of the transaction!

How to Comply Effectively With the new Transfer Pricing Obligations

 

Undoubtedly, 2023 will be a great challenge again for multinational companies, not least because of the latest adjustments to transfer pricing rules. The new obligations are known in detail and effective now; thus, affected companies must apply them as soon as possible.