Companies that prepare their financial statements on a calendar-year basis are required to top up their advances paid in 2018 for corporate income tax, local business tax, R&D contributions, advertising tax and sectoral special taxes by the statutory deadline of 20 December.
The approved bill modifies the above indicated deadline of using up the tax losses incurred in 2014 or before to the tax year containing the date 31 December 2030. This extension can be considered as especially beneficial for taxpayers who incurred tax losses in said period, but may not have been able to fully utilise such losses within the currently effective time frame up to 2025.
Companies should prepare for major changes in CSO-Intrastat reporting obligations, effective from 2019.
Asked to rank job characteristics in order of importance, respondents put flexible work options, base pay, and a good rapport with co-workers at the top of the list. PwC Hungary has asked a total of 20,000 high schoolers, college students and recent graduates about their job preferences since 2016, including nearly 7,000 young people surveyed this year.
The 40,000-seat stadium is full; spectators are wearing the names of their favorite players on their T-shirts, war-paint on their faces, waving the flags of their team. Excitement peaks as the lights go out and the players appear on the jumbotrons; they take their seats behind the screens followed by the hurricane-like cheering of the crowd...
Following the relevant EU directive, Prof. Dr. Gyula Bándi, Deputy Commissioner for Fundamental Rights Ombudsman for Future Generations of Hungary proposes domestic legislative amendments to make environmental responsibility more effective.
Further to the developments on the level of the OECD and the EU the first deadline regarding the country-by-country reporting (“CbCR”) obligation is approaching in Hungary as well. The new statutory obligation pertains to Hungarian resident companies that were, in the fiscal year preceding the reporting fiscal year, members of a company group with a total annual consolidated group revenue exceeding EUR 750 million. The new obligation requires the companies to submit certain administrative and in certain cases financial data of their own and their group members’ operation to the Hungarian Tax Authority (“HTA”).
In the last couple of months, Hungary implemented various transfer pricing rules that may bring the country closer to the international transfer pricing environment. On the other hand, these changes may impose significant additional burden and uncertainties on Hungarian companies.
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