News

United States terminates double tax treaty with Hungary

U.S. Treasury Department is terminating the double taxation treaty concluded with Hungary in 1979.

Transfer pricing and financial transactions

On February 11th, 2020 the OECD released the technical guidance on the transfer pricing aspects of financial transactions (FTs).

Extra profit surtaxes: detailed rules are announced

Government Decree on the new surtaxes was published in the Hungarian Official Gazette on 4 June 2022.

Extra profit surtaxes: major mid-year tax package arrives

Besides the banking sector, the energy sector, retail chains and telecommunication firms, the pharmaceutical distributors and airlines are also hit by the proposal, as well as the advertising tax is set to be reintroduced again.

LEGAL 500 2022 – Our lawyers in noble positions

On the recently published list, Szabó Kelemen & Partners Andersen Attorneys was ranked in seven categories.

Amendments to consumer protection laws

Below we briefly outline the most important new features of these four pieces of legislation.

Another positive ruling of the ECJ concerning fixed establishment

On 7 April 2022, the ECJ issued a verdict in the Romanian case Berlin Chemie (C-333/20).

Input tax refund – formally insufficient invoices do not necessarily lead to the exclusion of the input tax deduction

ECJ ruled on warranty repairs completed by customer

Repair under warranty completed by the customer may be considered as a supply of services towards the vendor, with repair costs might qualifying as consideration – the European Court of Justice stated.

Andersen is catching up with large consultancy firms faster than expected

In 2021, Andersen Hungary increased its revenues by almost 20 percent.

PILLAR II: a technical guidance on 15% global minimum tax

On March 14, 2022 OECD/G20 Inclusive Framework on BEPS published a Commentary on the 15% global minimum tax.

Cross-border M&A Effects

Cross-border M&A transactions are nowadays being increasingly boosted by dealmakers.