Tax law changes 2021

25/11/2020
(update regurarly)

26/11/2020 UPDATE:

The autumn tax package was promulgated on 26 November 2020.

Through the amendments to the law, the provisions of the EU e-commerce tax package have been transposed into the Hungarian VAT law, the Hungarian tax authority will prepare draft VAT returns for companies. In corporate income tax the permanent establishment rules will be tightened and certain tax benefits (namely, tax relief for investments serving the energy efficiency purposes, the so-called development reserve and support for spectator team sports) will be modified. The small business tax scheme (KIVA) will become even more favourable, the local business tax returns will be simplified and more administrative procedures will become duty-free.

These and numerous further tax law changes are presented in our latest newsletter on a topic-by-topic basis (click on the links below to view):

1. Value added tax
2. Corporate income tax
3. Small business tax (KIVA)
4. Itemised tax of small businesses (KATA)
5. Personal income tax
6. Local business tax
7. Tax procedure and tax administration rules
8. Other taxes, state duty, contributions
9. Accounting rules

***

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