PwC Hungary's Blog

Gábor Luczó: CbCR is upon us

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”).

Gergely Horváth - Gábor Riba - András Lengyel: Hungary poised to take center stage in new Industrial Revolution

Gergely Horváth - Gábor Riba - András Lengyel: Hungary poised to take center stage in new Industrial Revolution

There is a looming sense of change in the European industry. We all know that our production capabilities will never match those of our East Asian trade partners, but we finally understand that this should not and will not be our main objective. The New Industrial Revolution is coming, and the European Commission is set on the European Union being the torchbearer of new developments. The EU manufacturing base is clearly destined for a marriage with the ICT sector, whereby digital innovation helps guide, maintain and further develop our precision, strength and co-operation.

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