Hungary’s parliament is reviewing Draft Bill T/9724, which proposes new tax measures, including a payment obligation related to Hungary’s adoption of the Pillar Two global minimum tax (GloBE) rules under Council Directive (EU) 2022/2523 of 14 December 2022.
The draft bill also proposes broadening the retail sales tax scope to encompass online marketplaces.
The Parliament is reviewing a payment obligation regarding the QDMTT, requiring a domestic group member or designated local entity to establish, declare, and pay a QDMTT advance by the 20th day of the 11th month following the tax year.
In the first tax year under the GloBE rules, starting on 1 January 2024, the QDMTT advance is due on 20 November 2025.
Hungary adopted the GloBE rules on 21 November 2023, which implement an income inclusion rule (IIR), an undertaxed payment/profit rule (UTPR), and a qualified domestic minimum top-up tax (QDMTT) for relevant groups.
Later, Hungary’s Ministry of Finance launched a public consultation on 17 October 2023 on a draft law for implementing the corporate minimum tax under Pillar Two, which was submitted to the parliament on 31 October 2023.
