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tag: tax planning

Summer, sea, tax-free dividends

Anilla Gondi | 12 August 2021
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Anilla Gondi

For many, the summer months bring to mind sunny beaches, mouth-watering Mediterranean cuisine, colourful buildings along Portuguese streets, and cities that offer memorable cultural experiences... Yet few are aware that, beyond drawing in tourists, because of their tax systems, popular holiday resorts are also attractive destinations for affluent, well-to-do foreigners - often for periods of time longer than that of a mere summer adventure.

NAV to Have Access to Dubai-Based Shell Companies’ Data

dr. Czoboly Gergely | 21 June 2021
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dr. Czoboly Gergely

At the beginning of April, a new OECD standard came into force, by virtue of which tax authorities will be better placed to monitor the activities of companies registered in tax havens and to access their key financial data. Although it remains to be seen how the Hungarian Tax and Customs Administration (NAV) will use this information, several popular tax minimisation strategies may be at risk.

Henceforth taxpayers are required to “indict themselves”

Tamás Fehér | 24 February 2021
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Tamás Fehér

First reports under DAC6 were due recently from those who are parties to a cross-border transactions. Concurrently, at the last possible moment, the Hungarian Ministry of Finance published a Guide on certain issues related to the fulfilment of the reporting obligation. It is advisable, in particular, for accountants, consultants, lawyers and banks to carefully study this 38-page document, as any of them could easily fall within the scope of the reporting obligation.

The coronavirus is about to change the country of tax payment

Anilla Gondi | 8 February 2021
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Anilla Gondi

We already know that Covid is changing the way we live and work. We’re keeping away from each other, we’re traveling less, we’re talking to each through video calls, and we’re working at home. But most of us haven’t thought about how these changes may affect the country our company pays taxes in.

“183 days” and similar misconceptions… when can we really avoid Hungarian taxation?

István Csővári | 8 September 2020
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István Csővári

"I have a Slovak address card, so I don’t have to pay taxes in Hungary…" "I just have to make sure not to spend more than 183 days at home". "I’m a digital nomad, I don’t pay taxes anywhere." Many similar misconceptions circulate in Hungary regarding the rules of tax residence. However, tax regulations are “much smarter” than that and those who follow false illusions may even be exposed to criminal liability.

Legal and tax tips for the coronavirus shutdown

Ákos Baráti | 6 April 2020
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Ákos Baráti

Due to the state of emergency related to the coronavirus outbreak, sooner or later many business owners, company managers, and chief legal or financial officers will be relieved of their more routine, day-to-day work. This is a time when it might be worthwhile to sort out the company’s legal or financial issues that you may not have had time for during your day-to-day operations. Here are five tips worth considering.

Company group therapy: when and why should we transform our business into a company group?

István Csővári | 9 January 2020
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István Csővári

While a typical small or medium-sized family business consists of a single company, large enterprises tend to work in the form of a company group, made up of numerous companies. How do company groups form and what justifies their formation? When is it worth establishing a company group? These are the questions we seek to answer.

TOP 5 TAX ATTRACTIONS IN HUNGARY

István Csővári | 21 October 2019
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István Csővári

Hungary is an ideal location for international tax planning. Below we summarize the 5 most important features of the Hungarian tax system that can make the country attractive for international investors and public and private multinational groups.

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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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