From 1st July 2020 stricter rules will apply regarding issuance of invoices and regarding mandatory data disclosure obligation about outgoing invoices, furthermore regarding mandatory data disclosure obligation about incoming invoices. We summarise the new rules in our current newsletter.
From 1st January 2020 stricter rules will apply for the validation of tax exemption in the case of intra-Community supplies; the presentation of at least two, not contradicting documents will be compulsory for all member states.
In the followings we would like to inform you about the most important changes affecting entities being subject to Hungarian tax obligation. These include the abolishment of corporate income tax and innovation contribution top-up liabilities. The decrease of social contribution tax is a further favourable change, as well as the reclaimable VAT on irrecoverable receivables.
In the followings we would like to inform you about the most important changes affecting entities being subject to Hungarian tax obligation:
1. Limitation of interest deduction for corporate income tax base
2. Corporate income tax group
The immediate data provision obligation regarding electronic invoices commences on 1st July.
The Hungarian Ministry of National Economy emphasised that data provision will be mandatory from 01.07.2018 regarding invoices of transactions between Hungarian taxpayers with recharged VAT content of at least 100.000 HUF.