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On the way to a fairer VAT system

Anilla Gondi | 30 May 2019
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Anilla Gondi

The European Court of Justice (ECJ) has declared in a recent case that when checking VAT transactions, the tax authority cannot ignore examining the full budgetary impact. Thus it is not acceptable for the authorities to deny the right of VAT deduction to a taxpayer without allowing the other taxpayer to accordingly reclaim the VAT that it paid. Furthermore, the court also found it unacceptable for the tax authority to base a fine only on the amount of the VAT deducted unlawfully without examining the tax shortfall actually caused. The ruling can be considered as another important step towards the creation of a fair VAT system.

Auditing parent companies … much ado about what exactly?

Ádám Fischer | 27 May 2019
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Ádám Fischer

A position statement issued at the end of last year in response to an accounting question is now coming sharply into focus for the first time. According to the statement, all holding companies are subject to an auditing obligation. Or are they?

There is life after death for companies!

Ágnes Bejó | 30 April 2019
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Ágnes Bejó

If somebody dies unexpectedly, it’s not only a terrible loss for the grieving family and friends, but can also be a tragedy for the company of which the deceased was a member. At such times, the company can find itself unable to make decisions, even if the deceased only held a small share in the business. However, solutions do exist to enable the testator not only to make provisions for family members in the event of his or her death, but also to make sure that the company can continue to make decisions.

The taxation pitfalls of trading abroad

István Csővári | 24 April 2019
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István Csővári

Thanks to the virtual mobility afforded by the internet, a growing number of people today are using online trading platforms to buy and sell foreign securities through brokers abroad. However, these investors in foreign stock markets are often gambling not only with their money, but with the tax system, too – often without even being aware of it.

Are options an option?

István Csővári | 15 April 2019
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István Csővári

In line with the models applied in the English-speaking world, the granting of a stock option to a company’s manager, or to the members of its management team, is becoming increasingly widespread in Hungary too. A stock option not only gives the manager an incentive to increase the value of the company, but after exercising the option it also creates an opportunity for him or her to have a say in shareholder decisions. The regulations related to stock options in Hungary, however, carry a good deal of tax-related pitfalls. It pays to be aware of these when devising your stock option plan.

Swings and roundabouts – the number of taxes decreases further in Hungary

Tamás Fehér | 9 April 2019
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Tamás Fehér

60, 59, 58, 55… this is how the number of taxes has changed in Hungary over the past 4 years. The trend is certainly encouraging, but behind the figures there are some more complex phenomena at play.

How to win a lawsuit – a good expert is worth their weight in gold

Ádám Fischer | 6 March 2019
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Ádám Fischer

In today’s complex world, a growing number of lawsuits hinge on an expert’s opinion. So the matter of who testifies as an expert witness in your legal case does make a difference. Fortunately – due in no small measure to the new code of procedure – it is now possible to influence this.

All that is solar is not gold

Boglárka Zsibrita | 22 February 2019
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Boglárka Zsibrita

A trendy investment product of recent years has been solar energy projects: under the feed-in tariff (FIT) scheme, the government guarantees what looks like a cash cow for all those who choose to seek their fortune in this sector. But as is usually the case, this money won’t just fall into your lap. Without the necessary professional expertise or the proper legal groundwork, solar power projects can easily run out of steam too.

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Who is this blog addressed to?

The law is constantly in flux. While many people may find this intimidating, for us it’s precisely what makes it so exciting. We’d like to share this attitude with businesspeople and managers, and with those who just have an interest in business law, in the form of a regularly updated blog that discusses the latest tax law and commercial law issues in an accessible style. Feel free to send your questions and suggestions for topics you’d like us to cover to blog@jalsovszky.com.

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