New director appointments at PwC Hungary
PwC Hungary is proud to announce the appointment of new directors in its Tax, Audit and Advisory service lines. In September, PwC Hungary also welcomed Roland Földvári as Director in Advisory.
Press releases
PwC Hungary acquires data mining company
After years of working together, PwC Hungary has acquired Data Solutions Kft. The services provided by this Hungarian-based company, which has been in operation for 10 years, have focused mainly on predictive analyses, data mining, and on creating and analysing data repositories and data markets. Through this acquisition, the Hungarian office of one of the biggest financial advisory firms in the world has added nearly 15 experts to its staff.
Summer tax legislation package
On 25 July 2018 a summer tax legislation package was introduced. This newsletter provides a summary of the most important changes to tax legislation, as set out in Act XLI of 2018 on amending certain tax laws and related legislation and on the special immigration tax (“Amending Act”).
What’s new in the autumn tax package?
On 19 October 2018, the Government submitted a draft tax package to the Hungarian National Assembly. In addition to a couple of restrictive provisions, the package contains a number of new benefits available to taxpayers. The most significant changes include amendments to the cafeteria system, a transitional provision related to the reduced VAT rate on new apartments, a substantial increase in the threshold for VAT exempt status, as well as the introduction of a group taxation regime for corporate income tax purposes. We summarize below the key elements of the draft tax package. It is important that the package should be considered as a proposal only, pending approval of the National Assembly. Once finalized and ratified, we will prepare a detailed newsletter reflecting the final wording of the tax law changes.
Blog
Miklós Zaránd: From Square to $wag - The Businessman's Guide to esports
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...
Ariadné Kemele-Vandlik: New challenges expected - corporate environmental responsibility
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.
Gábor Luczó: CbCR is upon us
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”).
István Gilányi: Hungarian transfer pricing: the beginning of a whole new era?
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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