The Hungarian tax authority has published on its website a form (Form 16CBC) that can be used by taxpayers to comply with the reporting requirements for country-by- country (CbC) from 31 May 2017. Under a general rule, the ultimate parent company is to file the CbC report, but a group member other than the parent company can be assigned to serve as the CbC reporting entity. Under the amendments applied from May 2017, a member of the group who does not need to submit the CbC report must declare that it has no obligation to file CbC report and must also state the company and country where the CbC report is to be submitted along with that country’s tax authority. For this purpose, taxpayers are required to use a notification form 17T201T.
«
Previous post
Singapore: Income Tax (Amendment) Bill 2017 approved
Singapore: Income Tax (Amendment) Bill 2017 approved
Next post
Morocco ratifies DTA with South Sudan
Morocco ratifies DTA with South Sudan
»
Related Posts
Hungary: EU approves reverse charge extension for insolvency supplies
February 17, 2025
Hungary has announced that the EU Council Implementing Decision 2024/3209 of 23 December 2024 has approved the extension of the reverse charge mechanism under the VAT Directive (2006/112) until 31 December 2026. This applies to supplies of capital
Read More
Hungary tightens import VAT deduction rules from March 2025
February 06, 2025
Hungary will implement stricter import value-added tax (VAT) deduction regulations for indirect customs representatives from 1 March 2025. The amendment requires importers to file monthly VAT returns and avoid being classified as “risky
Read More Hungary raises VAT exemption limit to HUF 18 million for small businesses
February 04, 2025
Hungary’s tax authority has published guidance on increasing the VAT exemption threshold for small businesses from HUF 12 million to HUF 18 million. The increase was established by Government Decree No. 5/2025 and published in the Official
Read More Hungary delays mandatory e-invoicing for energy sector to July 2025
January 31, 2025
Hungary’s government has amended Government Decree 273/2007 (X. 19.) and Government Decree 19/2009 (I. 30.), which delays the e-invoicing requirement for electricity and gas supplied to nonresidential customers. Electronic invoicing
Read More Hungary to negotiate new tax treaty with US
January 29, 2025
Hungary’s Prime Minister Viktor Orbán has authorised negotiations for a new income tax treaty with the US. The new tax treaty between the two nations is aimed at avoiding and preventing double taxation in the field of income taxes. In July
Read More Hungary clarifies place of supply rules for online events
January 24, 2025
Hungary’s tax authority has published a summary of new place of supply rules for VAT for online events on 2 January 2025. The summary clarifies that the place of supply for services granting access to cultural, artistic, scientific,
Read More