Blog

Business taxation 1. - General notes

by Dr. Ákos Menyhei

15th August 2017.

Dear readers, in this blog about the Hungarian business taxation I provide you a general overview about the Hungarian tax regime....

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Trust in the Hungarian Law 1. - The concept of the trust in the new Hungarian Civil Code

by Dr. Ákos Menyhei

19th August 2017.

Twenty-five years after the collapse of the socialist system in Hungary and joining the market economy system again,....

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Business taxation 2. - Taxes, contributions and stamp duties in Hungary

by Dr. Ákos Menyhei

20th August 2017.

Currently, the following taxes, contributions and stamp duties are imposed in Hungary....

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Trust in the Hungarian Law 2. - General rules of the trust

by Dr. Ákos Menyhei

19th August 2017.

Pursuant to Section 6:310(1) of the Civil Code, under the trust the trustee must manage the assets transferred into the trustee’s ownership by the settlor for the benefit of the beneficiary, for which the settlor is obliged to pay a fee,....

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Business taxation 3. - Corporate Income Tax - Tax liability and taxpayer

by Dr. Ákos Menyhei

22th August 2017.

Corporate income tax is one of the most dominant central taxes in Hungary. A Hungarian corporate tax resident entity is taxed on its worldwide income....

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Trust in the Hungarian Law 3. - Rights of the settlor

by Dr. Ákos Menyhei

24th August 2017.

The rights of the settlor extend to the appointment of the trustee, the determination of the transferred assets, the designation of the beneficiary, and the condition or time to become beneficiary....

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Business taxation 4. - Corporate Income Tax - Controlled foreign company

by Dr. Ákos Menyhei

26th August 2017.

A company is deemed to be a controlled foreign company (CFC) if a Hungarian tax resident ultimate beneficial owner owns or controls at least ten percent participation in the foreign company....

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Trust in the Hungarian Law 4. - Rights and obligations of the trustee

by Dr. Ákos Menyhei

27th August 2017.

The trust framework of the Civil Code is very liberal and does not limit the scope of persons who may act as a trustee...

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Business taxation 5. - Corporate Income Tax - The corporate income tax rate and tax base

by Dr. Ákos Menyhei

29th August 2017.

There is only on bracket in the corporate income tax rate, that is nine percent of pretax profits.....

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Trust in the Hungarian Law 5. - Liability of the trustee

by Dr. Ákos Menyhei

1st September 2017.

The trustee is liable toward the settlor and beneficiary for the breach of his obligations in accordance with general rules of liability for damages....

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Business taxation 6. - Corporate Income Tax - Main tax-deductible and non-deductible items

by Dr. Ákos Menyhei

5th September 2017.

The accounting system operates two levels tax base modification system. First, there are items that increase the tax base and there are items that decrease the tax base.....

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Trust in the Hungarian Law 6. - Legal status of the trust asset

by Dr. Ákos Menyhei

7st September 2017.

Section 6:312 of the Civil Code provides rules on the separation of the trust asset from the trustee’s own and other trust assets....

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