Month: February 2017

Newsletter January-February 2017

Contents: The substantive provisions of the new Excise Tax Act will become effective in April The official availability of business entities to be registered in the Disposition Register New rules for the mandatory contents of invoices Modified tax base for non-wage benefits and certain individually defined benefits GVH fined Magyar Telekom Nyrt. HUF 600 million

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The substantive provisions of the new Excise Tax Act will become effective in April

As one of our previous newsletters indicated, the excise duty regulations are significantly changing in 2017. Instead of 1 January 2017, as earlier proposed, due to another amendment at year-end last year, the substantive provisions of the new act (Act LXVIII of 2016) will become effective on 1 April 2017, and pursuant to the transitional

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The official availability of business entities to be registered in the Disposition Register

Pursuant to the Act on the general rules for electronic administration and trust services (E-administration Act), economic operators are required to register their availability for electronic contact, i.e. the so called “official availability” in the Disposition Register, by not later than 31 August 2017. The official availability must be a contact address that is suitable

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New rules for the mandatory contents of invoices

As of January, the relevant provision of Act CXXVII of 2007 on Value Added Tax applicable to the mandatory information to be stipulated on invoices is changed. Previously the law stipulated that in cases when the amount of VAT payable by the purchaser of the goods / recipient of the service exceeds HUF 1,000,000, and

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Modified tax base for non-wage benefits and certain individually defined benefits

As of 1 January 2017, the tax base for certain individually defined benefits not qualifying as non-wage benefit, and for non-wage benefits, is calculated as 1.18 times the benefit amount, pursuant to Act CXVII of 1995 on the Personal Income Tax. Earlier, the multiplier applied was 1.19. As for promotions, the amendment is relevant for

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GVH fined Magyar Telekom Nyrt. HUF 600 million

The Hungarian Competition Authority (GVH) fined Magyar Telekom Nyrt. for an infringement of comparative advertising rules, and for misleading customers. The supervision proceedings were opened in relation to a campaign including the slogan “largest size 4G network”, and GVH established that Telekom provided a comparative analysis of the 4G network coverage of Telekom and its

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