The Hungarian tax legislation and double tax treaty network provides a wide range of opportunities for tax structuring. Historically, Hungary became part of the international tax planning scene in the late 1990s, when the so-called Hungarian offshore regime attracted hundreds of foreign investors to the country. Since the final abolition of the offshore system in January 2006, a large number of multinational groups are still taking advantage of the tax planning opportunities provided. The ITS group provides comprehensive assistance to former offshore and new clients in relation to planning, implementing and maintaining their structures in Hungary.
Our main advisory areas are:
- provision of tax advice and opinions, identifying tax planning opportunities;
- obtaining binding rulings or guidelines from the authorities;
- assistance in implementation of efficient tax structures, coordination with other service providers;
- tax compliance, including preparation or review of tax returns or correspondence with the authorities;
- dealing with statutory transfer pricing documentation compliance, including benchmarking studies and advice on pricing levels;
- assistance during tax office audits.