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- Majority of global financial services companies plan to increase FinTech partnerships as 88% concerned they will lose revenue to innovators
- Prospective hires look for flexibility, easy-going co-workers, and the ability to take longer breaks from work
- European city hotels set for continued growth in 2017-18, despite security and geopolitical uncertainty
- Digitisation and the skills crunch: no CEO left unfazed
- PwC Releases 10th Anniversary Digital IQ™ Survey
- New opportunity for SMEs to develop their ICT systems with EU funds
- Shift of global economic power to emerging economies set to continue in long run, with India, Indonesia and Vietnam among star performers
- Submission process for Polish VAT returns to get stricter
- Summary of the major tax changes in 2016
- CEO confidence rises despite new risks and uncertainty
- The new unified electronic form for filing local business tax returns has been published
- Further opportunities for large enterprises to receive VIP cash subsidy from 1 January 2017
- Key amendments to tax laws adopted by Parliament in December 2016
- Companies shifting more R&D spending away from physical products to software and services: 2016 Global Innovation 1000 Study
- Tax compliance burden falls, but new data highlights post – filing administration and cash-flow challenges
- Rise of the robots – good news or bad for business and society?
- Key proposals to amend tax laws submitted to Parliament in October 2016
- PwC Young Workers Index - October 2016
- Global Power & Utilities Survey
- New director appointments at PwC Hungary
- New generations, new consumers, new answers - 7 consumer trends with 50+ corporate examples
- London ranks top in PwC Cities of Opportunity Index, followed by Singapore and Toronto
- New legal institution brings favourable taxation for motivation of employees, for stock provision
- The deadline for foreign VAT refund applications is fast approaching
| Key proposals to amend tax laws submitted to Parliament in May 2016 |
| Submission process for Polish VAT returns to get stricter |
| Submission process for Polish VAT returns to get stricter |
What's new
Country-by-country reporting in Hungary
CbC reports must contain – in a breakdown by tax jurisdiction or group entity – information relating to revenues (from related and unrelated parties), profit (loss) before income tax, income tax paid, income tax accrued, stated capital, accumulated earnings, number of employees, tangible assets other than cash or cash equivalents and main business activity.
In certain cases the reimbursement of VAT can be claimed directly from the tax authority
The findings of the judgment can be of reasonable support in cases where the tax authority denied the right of VAT deduction and assessed a tax penalty by arguing that the parties concerned incorrectly applied the reverse charge mechanism instead of charging VAT according to the general rules.
Prospective hires look for flexibility, easy-going co-workers, and the ability to take longer breaks from work
Asked to rank job characteristics in order of importance, prospective hires put flexible work options and a good rapport with colleagues at the top of the list. Money is important, but prospective employees’ needs go beyond their salary: they only ranked it third among the top five priorities. In the survey, conducted between November 2016 and March 2017, PwC Hungary asked 13,000 high schoolers, college students and recent graduates about their job preferences.
Majority of global financial services companies plan to increase FinTech partnerships as 88% concerned they will lose revenue to innovators
A large majority of global banks, insurers and investment managers intend to increase their partnerships with FinTech companies over the next 3 - 5 years and expect an average return on investment of 20% on their innovation projects, according to a new PwC report Redrawing the lines: FinTech’s growing influence on Financial Services.
Digitisation and the skills crunch: no CEO left unfazed
Hungarian CEOs are confident about their company’s growth prospects over the next 12 months, but are less optimistic about Hungarian and global economic growth. Looking at target markets, the US and China have grown in importance, while Germany remains the country CEOs view as the most important. CEOs identified innovation and human capital as the two areas they most want to strengthen in order to capitalise on new opportunities. They are concerned that key skills shortages, which have become more acute in recent years, could impair their outlook. In fact, 92% of CEOs say this is the single biggest obstacle to their company’s growth.
For the upcoming events, subscribe to our newsflash!
- István Gilányi: Country-by-country reporting has arrived to Hungary
- András Matolcsy, Dénes Simonyi: How can the IT satisfy the ever-changing business needs?
- Anikó Réfi: Structural changes at the Tax Authority
- Miklós Klenanc: Liability issues related to self-driving cars: no answers, only questions?
- Balázs Kisgergely: Cost plus mark-ups for low-value-adding intercompany services
- Anita Mekler: Bits of transfer pricing - Two is more than one but...
- Balázs Kisgergely: Transfer pricing challenges of shared services
- Balázs Kisgergely: CbCR – Opportunity beyond the administrative burden
- Gábor Luczó - BEPS - Where we are now
- István Gilányi: Preparing for Country-by-Country Reporting in Hungary
- Attila Wéber: Uncertain tax implications of Brexit
- Anita Mekler: Does benefit test help?
- Anikó Réfi: Pricing of intercompany financial transactions
- Gábor Luczó: State aid by transfer pricing arrangements
- István Gilányi: How to disregard an inter-company transaction?
- Attila Weber: TP changes and challenges within the world of BEPS
- Anita Mekler: Bit of Transfer Pricing
- Anikó Réfi: Transfer pricing documentation - deadline approaching quickly
- Gábor Luczó: Interquartile, welcome to Hungary!
- István Gilányi: Expected TP legislation changes
- Attila Wéber: BEPS and APA strategies
- Anita Mekler: Should CbC reporting be public?
