Global

Details

  • Service: Tax, Global Indirect Tax, Mergers & Acquisitions, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 12/12/2013

Hungary - Summary of tax changes effective in 2014 

December 12: Tax law changes in Hungary that generally are effective in 2014 include the following corporate income tax provisions:
  • Expansion of favorable participation exemption rules in instances of 10% share acquisitions
  • Definition of permanent establishment also covers sale of real estate by non-resident person
  • Ability to consider direct costs of research and development (R&D) projects conducted by related parties
  • Concerning mergers, the surviving entity will be entitled to use certain losses of the merged entity
  • Extension of the deadline for using a tax allowance available to entities making “sports donations”
  • Debit or credit card receipts for restaurant services are sufficient for corporate income tax purposes
  • Book value of assets of real estate holding companies to be used for classification purposes

Other tax law provisions effective in 2014 affect value added tax (VAT) and excise tax provisions, and individual (personal) income tax.


Read a December 2013 report [PDF 240 KB] prepared by the KPMG member firm in Hungary: Tax changes 2014




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