Our Hungarian partner firm, Leitner Leitner, has published some of the changes affecting corporation taxation in Hungary during the summer. These include:
Changes to the business tax liability of air passenger transport.
Changes to the business tax liability of labour hire companies.
Transfer pricing rules are modified to now apply to both local tax and innovation contribution.
Alterations to tax deductions for advertising costs due to the implementation of the Advertising Tax Act. This includes the possibility of unlimited use of accrued, unused losses incurred up to a specific date.
VAT regulations now include a mandatory redemption system for certain products.
Taxpayers established in EU member states can now reclaim input VAT charged on domestic real estate purchases in Germany through a special VAT refund procedure.
The introduction of electronic receipts is planned to replace paper-based receipts and online cash registers.
