Business News from Hungary by Peterka & Partners
Tax package adopted
The Hungarian Parliament has recently adopted the autumn/winter tax package. In regards to personal income tax, obtaining a shareholding in certain start-up companies could be tax-exempt for employees and directors. For VAT, the tax return filing system will be simplified a great deal thanks to, among others, the possibility to have the tax authority prepare a draft VAT return to be approved by the taxpayer on the basis of the data obtained from online invoice reporting. The 0% rate for the advertising tax has been prolonged for another year, until the end of 2024. Hungary has also started implementing the global minimum tax rules.
Clarity in e-signatures
After a long period of ambiguity concerning the validity and admissibility of e-signatures in civil law matters, as of 1 January 2024, as a main rule, using at least an advanced electronic signature with a time stamp or making use of AVDH certification (available to those having a Citizen Gateway – Ügyfélkapu-access) will result in a legal statement in written form. The measure is widely expected to facilitate the transition to electronic contracting.
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