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tag: tax procedure

The Hidden Pitfalls of Transfer Pricing

Péter Barta | 13 May 2024
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Péter Barta

In the audit practice of the Hungarian Tax and Customs Administration (HTA), the audit of transfer pricing is gaining importance. Moreover, the relevant regulations are becoming more complex with each passing year. As the deadlines for transfer pricing documentation approach, it is worth reviewing what hidden pitfalls should be avoided when preparing documentation and providing data.

MORE AND MORE TAX AUDITS - IT'S WISE TO STAY VIGILANT

Henrik Bereznai | 20 September 2023
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Henrik Bereznai

Already last year, it was noticeable that after several years of decline, the Hungarian Tax Authority conducts more and more tax audits. In 2022, the number of tax audits increased by 6.2% compared to the previous year. Experience shows that this trend is expected to continue even more strongly this year. The most commonly audited tax category remains VAT.

More tax revenues collected than expected in 2022

Dániel Veres | 12 June 2023
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Dániel Veres

The yearbook of the Hungarian tax authority summarising the most important tax events and statistics for 2022 has been published. It shows, among other things, the number of fines imposed and the effectiveness with which the tax authority's decisions can be challenged. We have compiled the most important and informative figures from the yearbook.

Tax affairs and criminal justice – hand in hand they go...

Péter Barta | 26 November 2021
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Péter Barta

Recently, the tax authority’s audit practices have changed appreciably. While until recently, tax audits were mostly launched as fully standalone procedures, today the tax authority (NAV) is increasingly initiating criminal proceedings alongside its tax audits. This is particularly the case in bogus-invoice deals affecting VAT, as well as in excise-duty and certain customs matters. But what’s behind this?

Ban from management – when the superweapon backfires

Dániel Veres | 26 April 2021
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Dániel Veres

“The tax number of one of my companies was deleted due to some blunder, but we corrected it” – so begins a widely-known and innocent story that could happen to anyone. Then we realise in terror that due to this “blunder”, the Court of Registration refuses to register our company, or that the tax authority wants to delete the tax number of one of our existing companies. Could this have been avoided? What can be done?

Company managers on the blacklist

Ágnes Bejó | 31 May 2017
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Ágnes Bejó

Many people could be in for a nasty surprise when trying to set up a company: the company court refuses to register the majority owner or managing director on grounds that the person is subject to a ban. While the banned persons sometimes know that they have “been up to no good”, in other cases they are baffled as to the reasons for the ban. A lot is at stake: a person who is banned could end up on the “black list” for up to 7-8 years.

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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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