Dear Our Client!
There are some changes in the taxation system, so we would like to inform you in few words. Please read it throughly and if you have question, please contact with us!
Wish you a happy and successful new year!
1)Corporate income tax:
Accounting for accrued loss:. We return to the old five-year settlement for accrued loss! So if you have loss, you can deduct your next-years profits until max 5 years with the previous losses.
Affiliated companies enlargement from January 2015: If the parties have same Managing Director and there is invoicing between them from January 2015, these are affiliated companies. This status must be announced to the Tax Authority. Please review this situation and send us an e-mail if you know from that situation!
Advertising tax: No cost recognized from the advertising cost, if the amount is more than HUF 30 millions, and no statement from the partner or the company cannot prove that that statement was requested.
„Profit minimum tax”: This is important those companies who have loss. From 2015, the minimum tax base is 2% of your total revenue (not profit). The tax is the same 10%.
E.g. Total income 100 million HUF, and you have -10 million HUF profit.
Tax base: 100 million HUF *2% =2 million HUF, tax is 10%, so the corporate income tax is 200.000 HUF.
If you have positive profit, there won’t be any radical change in this year.
4)VAT:
The most important change is to get your customer VAT number, if the VAT amount in the invoice will be above 1 million HUF. In 2014, that was 2 million HUF, so there is a light tightening.
5)Common taxations:
–New companies will be monthly VAT reporters.
-EKAER system for goods movement (sent before a larger newsletter)
6)Salary taxes:
Minmum wage for 2015: 105.000 HUF for the not-skilled employers and 122.000 HUF for the skilled employers (Gross amount)
If you have questions with these points, please contact with us.
