Most of the significant tax law amendments were already enacted in June 2017, subsequent to which the Hungarian Parliament passed further tax changes in November 2017 as well. In our newsletter we shortly summarize the changes introduced by the spring tax bill alongside with the most significant modification of the November tax package.
Most notably, from 1 January 2018 an entirely new tax procedure legislation will come into effect. There are no significantly new rules, although, the regulation has become more fragmented and extensive.
The other modifications are of a smaller-scale, with the purpose of easing the tax administration, extending the tax incentives and expanding online tax administration. This latter expressly aims to further reduce tax evasion.
Dear Readers and Clients, you may download our summary on the tax law changes by clicking here.