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Tax News Archive 2012

  • 30.09.2012 Tax News (HU) - Mid-year tax law changes - Tax procedure

    Act on tax procedure 2012
    Comprehensive tax law changes were adopted in Hungary in June 2012, parts of which will take effect or have taken effect already in 2012. Other changes relate to 2013 (Act LXIX of 2012). With regard to the tax procedure law, we draw your attention to the limitations introduced for petty cash payments, as well as to the modified rules of the tax registration procedure. (This article is available in Hungarian only.)

  • 30.09.2012 Tax News (HU) - Mid-year tax law changes - Personal income tax

    Personal income tax 2012
    Comprehensive tax law changes were adopted in Hungary in June 2012, parts of which will take effect or have taken effect already in 2012. Other changes relate to 2013. Our article summarizes the most important changes concerning personal income tax. The law changed the range of the tax exempt employee benefits and the procedural rules of the declarations concerning the application of the 27% tax base increase. (This article is available in Hungarian only.)

  • 30.09.2012 Tax News (HU) - Mid-year tax law changes - Real estate transfer tax

    Real estate transfer tax 2012
    Comprehensive tax law changes were adopted in Hungary in June 2012, parts of which will take effect or have taken effect already in 2012. Other changes relate to 2013. The most important changes to the real estate transfer tax relate to the tax exemption of the sale of immovable property between related parties and the amended conditions of the reduced 2% tax rate available for property traders. (This article is available in Hungarian only.)

  • 30.09.2012 Tax News (HU) - Mid-year tax law changes - Corporate income tax

    Corporate income tax changes 2012
    Comprehensive tax law changes were adopted in Hungary in June 2012, parts of which will take effect or have taken effect already in 2012. Other changes relate to 2013. Concerning the corporate income tax changes, we summarize the tax rules for the waiver of dividend liabilities. (This article is available in Hungarian only.)

  • 30.09.2012 Tax News (HU) - Mid-year tax law changes - VAT

    VAT changes 2012
    Comprehensive tax law changes were adopted in Hungary in June 2012, parts of which will take effect or have taken effect already in 2012. Other changes relate to 2013. It is important to review the changes in VAT for 2013 already now, because the required modification of the information systems may take time. Similarly to transactions within the EU, summarizing statements will be introduced for the reporting of domestic transactions. Above a certain threshold it will be obligatory to indicate the customer's VAT number on the invoices. (This article is available in Hungarian only.)

FALCON’s „TAX-NEWS” is prepared with due care, is intended to provide general guidance and therefore only provides a quick overview of recent changes in tax legislation. For this reason it does not aim for completeness and preciseness. Specifically, it cannot replace the personal tax advice that is required for each individual matter. Therefore, please understand that we assume no liability whatsoever for the contents of the TAX-NEWS.

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