New services at VGD

VGD Hungary has opened this autumn season with new services and also the renewal of its previous ones, which we would like to present to you briefly below:

  TAX LAW REPRESENTATION
VGD’s experts offer you piece of mind in both domestic and international tax environments.

Tax law representation is one of our company group’s key services, as all of our clients – domestic, foreign and international businesses and private individuals – are in contact with the Hungarian tax authority, as well as often with international tax authorities.

Our experienced tax and legal experts can offer clients professional support in cross-border international matters, and full legal representation in tax law affairs from making basic legal steps to full representation in court, including the following fields:

• Representation of taxpayers at the tax authority and other authorities
• Providing legal opinions on tax law regarding contracts
• Representation for tax law litigation
• Requesting tax law position statements
• Conditional tax assessment proceedings

  VAT AND FINANCIAL REPRESENTATION SERVICES
Providing professional support, including in Hungary!

VAT and financial representation demands special expertise and material responsibility from consultant.

Our internationally experienced tax experts offer full support in Hungarian tax registration processes, as well as full financial representation for clients from outside of the EU.

What does financial representation mean in Hungary?

In order to carry out their taxable transactions in Hungary, non-EU companies without a permanent place of seat or branch within the territory of the EU are required to appoint a financial representative to handle their tax related matters in Hungary.

In the provision of financial representation, the represented business and the financial representative are both severally liable, so financial representatives can only be businesses that fulfil special legal requirements.

For the duration of the financial representation, a business can only be represented at the tax authority by the financial representative.

VAT representation:

To help domestic businesses fulfil their international tax requirements, we rely on the partner support of VGD Group and the Nexia International, world network, thus allowing us to provide expert representation for our Hungarian clients abroad.

Our company group offers the following services to domestic and international businesses for their foreign activities:

• Financial representation
• Full representation at the tax authority
• Creating VAT returns
• Supporting compliance with special Hungarian invoicing requirements
• Hungarian VAT registration of foreign businesses and other compliance services
• International VAT registration of Hungarian businesses
• International VAT reclaim
• Analysis and consulting on domestic and international transactions

   BREXIT ADVISORY
We help you navigate through the new rules

One of the key focuses of VGD tax advisory services is to support orientation in the changing tax and customs regulations affected by BREXIT. With the help and experience of NEXIA – our international network –, we can provide you with comprehensive assistance by the registration and administration required for your business – or a partner company there – in the United Kingdom, as well as related third-country administration and even more complex issues.

   DIGITISATION SOLUTIONS AND IT CONSULTING
We can help your company make its IT solutions more secure and efficient
n taxation and accounting

We provide effective solutions for 21st century administrative challenges, in order to reduce paperwork and increase security and efficiency. Our team of tax and accounting experts works tirelessly with our IT partner companies to provide you with personalised solutions to aid you in the pursuit of digitalisation and increased efficiency.

Every business has to handle an increasing amount of data, while the range of reportable information to the tax authority is also always on the rise. The challenge is to transform the complex mass of data found in IT systems into useful information, which not only makes data reporting to the tax authority easier, but also supports the complex needs of company information systems and aids business decision-making.

Whether you need assistance with domestic standards or have US GAAP, IFRS or invoicing needs, we are ready to help you with online solutions to aid you in reporting, or by monitoring the suitability of IT solutions.
Our highly trained, experienced team can offer you the following services:

• Support in the introduction of integrated accounting systems and software in Hungary
• Consulting and assistance in the introduction of electronic invoicing
• Creation of an interface for online accounts data reporting
• Consulting related to the introduction of online accounts data reporting
• Monthly monitoring of compliance with online data reporting requirements
• Verification and review of electronic archiving systems, and ensuring compliance with legal requirements
• Revision and correction of XML templates
• Creating easily readable data files for VAT returns and domestic summary report sheets (M sheets)
• Creating readable data files for EC summary report sheets (A60 tax return)
• Mass checking of Hungarian and EU tax numbers

We are at your disposal for more information, and if you are interested, we look forward to hearing from you!