TAX

Johannes Teyssen, chief executive of German utility giant E.ON, is to pay a visit to Budapest to discuss with local authorities the “crisis tax" imposed on energy companies. Teysenn heralded his... 

There will be significant changes to the taxation of personal income in Hungary, mainly due to the introduction of the 16% flat tax rate. In its latest Tax & Legal Alert, PricewaterhouseCoopers, in co-operation... 

There will be significant changes to the taxation of personal income in Hungary, mainly due to the introduction of the 16% flat tax rate. In its latest Tax & Legal Alert, PricewaterhouseCoopers, in co-operation... 

On 22 July 2010 a number of provisions of the Corporate Tax Act has been amended by the Hungarian Parliament, with the effect from 1 July 2010 retrospectively which legislative changes may affect the calculation... 

Since 1 January 2010, Act LXXXI of 1996 on Corporate Tax and Dividend Tax has included the provision that the Frascati Manual should be used to determine whether certain activities qualify as R&D activities... 

Hungary may be able to adopt a flat rate 16% personal income tax on 1 January 2011, but the budget is in no state that it would simultaneously tolerate the elimination of tax credits and super-grossing... 

There have been significant changes introduced since 1 January 2010 to the VAT reclaiming and refunding procedure available to foreign taxpayers in Hungary. In its latest Tax & Legal Alert, PricewaterhouseCoopers... 

Hungary’s Economy Minister has refuted media reports about a delay in the tax reforms pledged by Premier Viktor Orbán’s cabinet. György Matolcsy reiterated that a flat personal income tax and... 

On 22 July 2010, the Hungarian Parliament adopted the most recent legislation package amending certain financial laws. In its latest Tax & Legal Alert, PricewaterhouseCoopers has summarized the most important... 

On 22 July 2010, the Hungarian Parliament passed the Bill on the special tax (or “bank tax", as it is generally known), which will be payable by a wide range of financial organizations. PricewaterhouseCoopers... 

Seeking new sources to curb the budget deficit to the required level (below 3.0% of GDP) in 2011, Hungary’s government plans to abolish tax reliefs and mulls implementing a special tax on the energy... 

Certain aspects of local business tax were amended by the Hungarian Parliament’s adoption of Act LVII of 2010 on 21 June 2010. This new regulation places matters related to local business tax back... 

While previous reports had it that Hungary’s savings cooperatives would be exempt from the new “bank tax", the National Association of Savings Cooperatives (OTSZ) rebuffed this information.... 

In its latest issue of its Tax & Legal Alert PricewaterhouseCoopers has addressed Hungary’s new VAT Act regulations on public donations as follows. Under the new regulations, public donations are... 

Hungary’s new Civil Code provisions scheduled to take effect on 1 May 2010 will not enter into force, PricewaterhouseCoopers said in its latest Tax & Legal Alert. See more details below. In its... 

The European Commission has decided to refer a case concerning the VAT flat rate scheme for farmers in Portugal, and another case regarding the refund of VAT credits in Hungary, to the Court of Justice.... 

On 26 February 2010, the Hungarian Parliament adopted Act XII of 2010 amending certain financial laws related to the new Civil Code. In its latest Tax & Legal Alert, PricewaterhouseCoopers has addressed... 

In the latest issue of its Tax & Legal Alert, PricewaterhouseCoopers addressed the main areas in which Hungary’s state Tax Authority (APEH) is planning to carry out tax audits in 2010. The president... 

On 1 February 2010, certain amendments to the Labour Code came into force, while other amendments will take effect from 1 May 2010. In its latest Tax & Legal Alert, PricewaterhouseCoopers has addressed... 

The United States of America and Hungary signed a new convention on 4 February 2010 on the avoidance of double taxation with respect to income tax. After a series of negotiations lasting several years...