HUNGARIAN TAX LAW AMENDMENTS AUTUMN 2022

On 22 November 2022, the Hungarian Parliament passed tax law amendments coming into effect immediately, as well as on 1 January 2023. Further, a government decree and a government resolution published on 21 November 2022 introduced or envisaged further changes affecting taxation. This newsletter summarises the most important changes according to their adopted wording.

The tax law amendments are more of a clarifying nature. Among the biggest changes are: simplified tax base assessment method for local business tax, filing and disclosure of the CbC Report with the financial statements, extension of the 0% advertising tax rate to 2023, abolition of the tourism development contribution for a six-month period, expected abolition of SZÉP card sub-accounts). 

(Click on the links below to view):

1. Value-added tax
2. Corporate income tax, tax procedure rules (transfer pricing)
3. Local business tax
4. Small Business Tax (“KIVA”)
5. Personal income tax, tax procedure rules
6. Social contribution tax, social security, simplified public charge contribution
7. Transfer tax, gift tax, stamp duty
8. Accounting Act
9. Other taxes (the Robin Hood tax, advertisement tax, financial transaction tax, tourism development tax), proposed changes to the SZÉP Card regulation, international agreements

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Should you have any questions regarding this newsletter,
the tax experts of VGD Hungary will be pleased to assist you.

This newsletter provides general information and does not constitute tax advice