Summer Tax Package and Changes of Extra Profit Taxes — July 2022, Hungary – SME INFO Nr.2022-02 HU

In this newsletter we will cover more topics. First, several tax laws were amended at the same time when the 2023 budget was adopted. We take a look at them, highlighting the changes we consider important. On the other hand, in SME INFO 2022-01, we provided information on the Government Decree 197/2022 (4.VI) on extra profit taxes. This Government Decree has been amended on some points by Government Decree 257/2022 (VII.18). Here we also summarise the most important changes and clarifications (both in English and Hungarian).

The full versions of the newsletters are available as pdf either in English and Hungarian:

Download in English: Summer Tax Package and Changes of Extra Profit Taxes…PS-SME-Info-Nr-2022-02

Töltse le a hírlevelet magyarul: 2022-es nyári adócsomag és az extraprofit-adók módosítása-PS-SME-Info-Hu-Nr-2022-02

Content of downloadable PS SME Info 2022-02

I Act XXIV of 2022 – Amendments to the tax laws underpinning the 2023 central budget

1 Corporate Tax

Transfer pricing
New tax base adjustment items – impairment loss recognised on shareholdings

2 VAT

Group taxation arrangement
Subsequent reduction of the tax base

3 Personal income tax

Fuel consumption allowance for plug-in hybrid and fully electric cars
Fuel cost based on consumption rate
Tax residency certificate of foreign private individuals
Allowance declaration of private individuals under the age of 25 years

4 Social contribution tax

5 Innovation contribution

6 Company car tax

7 District heating service

8 Act on Rules of Taxation

The arm’s length price (APA) procedure
Transfer pricing documentation

II Changes affecting the extra profit tax

1 Special tax on credit institutions and financial enterprises

2 Obligation of investment firms and credit institutions to pay transaction duties

The scope of taxable persons is extended
Exemption from duty

3 Additional insurance tax

III. Arrived after closing…

1 VAT of new residential properties

2 Special tax for the energy sector

Download in English: Summer Tax Package and Changes of Extra Profit Taxes…PS-SME-Info-Nr-2022-02

Töltse le a hírlevelet magyarul: 2022-es nyári adócsomag és az extraprofit-adók módosítása-PS-SME-Info-Hu-Nr-2022-02

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