View the collection of Deloitte in Hungary press releases.
| Companies still have time to reconsider their VAT treatment practice for this year |
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19 November 2008 |
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Budapest, 19 November 2008 – Companies should retrospectively revise their VAT treatment practice applied this year to check whether they indeed acted in accordance with the position of the tax authority - Deloitte warns. This opportunity relates to the period from 1 January and 1 May 2008 up until now - and assistance to the revision is provided by the three guidelines relating to the VAT Act recently published by APEH.
Veszprémi István, a partner at Deloitte Ltd's Tax function explained: the recently published guidelines contain information on the correct tax treatment of certain transactions.... |
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| 2008 tax liabilities in the light of the altered business and financial environment |
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10 November 2008 |
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Budapest, 10 November 2008 – In the altered business and financial environment companies must consider several new factors affecting their tax liabilities in the fields of corporate income tax, solidarity tax and VAT. Deloitte has collected those factors that may contribute to the companies' efficient tax planning and the appropriate management of challenges in the changed environment.
Oszkó Péter, Deloitte chairman and CEO said: The current business environment urges businesses to re-think and revise their short- and long-term financial plans. As a part of that, they are required to assess the potential effects... |
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| Legal amendments planned to take effect as of 2009: combating black economy |
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09 October 2008 |
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Budapest, 9 October 2008 – A key objective of amendments for 2009, proposed by the Ministry of Finance is to combat the black economy and thus increase income to the central budget. According to the draft legislation, regulations on corporate income tax, personal income tax and contributions would be significantly modified, and the energy tax would be extended to coal in compliance with the EU requirement. Corporate income tax
Veszprémi István, a partner at Deloitte Ltd's Tax function said: Changes to the corporate income tax proposed to take effect in 2009 may be interpreted together with the... |
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| Deloitte Green Frog Award 2008 |
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08 October 2008 |
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Budapest, 8 October 2008 – The Central-European Environmental Reporting Award (Green Frog Award) established by Deloitte has been awarded this year as well. Companies could be nominated from all countries of the region irrespective of their industry and the number of their employees. From these nominees the jury selected the company that prepared this year's best environmental or sustainability report. The award was handed out to the winners by Imre Szabó, Minister for Environment, and Dr. Péter Oszkó, Deloitte's Chairman and CEO. Dr. Péter Oszkó, Deloitte's Chairman and CEO said at the award ceremony organised jointly... |
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| '20 keys' to quicker, more profitable and more efficient operations |
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02 October 2008 |
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Budapest, 2 October 2008 - For modern companies, it is a key issue to be as efficient as possible during their day-to-day operations. It doesn't matter if it's a small or medium enterprise or a large company, an entity can only survive on the market in the long term if it is able to identify and eliminate unnecessary activities within the company. There a number of methods that can be used to improve efficiency - one of them, '20 keys', originates from Japan and helps achieve corporate goals through twenty basic leadership and rationalising tricks. Péter Gruhala, director at Deloitte's Management Consulting... |
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| New Gateway Programme opens opportunities for European companies to develop their business in Japan and Korea |
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29 September 2008 |
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From 2 June 2008 the EU Gateway Programme provides professional mentoring and coaching to EU companies that want to do business in Japan and Korea and offers them the possibility of participating in one-week business events in these target markets. The new phase of this business cooperation programme builds upon the experience of the Gateway to Japan Campaign which has helped about 2.500 European companies to find business partners in Japan over the last 14 years. Commissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner said “In the coming six years the EU Gateway Programme will... |
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| Changing Reporting Standards |
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25 September 2008 |
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Budapest, 25 September 2008 – It may result in the reduction of the operating costs of companies listed in a US stock exchange and create better competitive conditions if the SEC (the US Securities and Exchange Commission) indeed prescribes the application of International Financial Reporting Standards for US listed companies. This change may bring advantages to the life of companies, however, it also poses several new challenges mainly to global companies. US listed companies are currently required to prepare their financial statements pursuant to US GAAP, the generally accepted accounting principles in the US which,... |
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| Overwhelming performance - with questionmarks |
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15 September 2008 |
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Budapest, 15 September 2008 – Central Europe will maintain its impressive five per cent growth rates, which far outpace western Europe’s economic performance only if it completes free market reforms, warns the CE Top 500, 2007, a new Deloitte authored, ranking and report on the region’s 500 largest companies. The Deloitte Central Europe Top 500 charts companies’ progress in a region, which stretches from the Adriatic to the Baltic and the Black Sea and contains a raft of countries, all of which have either already joined the European Union or are at various stages of the EU accession process.
The Deloitte... |
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| New Manager in Deloitte's Audit Function |
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08 September 2008 |
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Budapest, 8 September 2008 – Deloitte Hungary's audit function has recently taken a new manager on board. After a few years' pause, Sándor János has returned to the firm's audit function to continue his career as a manager. Sándor János has wide experience in auditing. He started his career at the Tatabánya Mining Company as an accountant and then joined Deloitte in 1994. During his first six years with Deloitte he obtained his registered auditor certificate and his brokerage exam. Owing to his hard work as an auditor he became a manager of the audit function.
In recent years he worked and met professional... |
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| Several aspects of the tax treatment of lease transactions in the new VAT system have been clarified |
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04 September 2008 |
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Budapest, 4 September 2008 - The gap-filling guidelines recently issued by the Ministry of Finance and Tax and Financial Control Administration on the VAT treatment of lease transactions contain a clear position regarding several issues that were ambiguous under the new VAT Act. While in addition to rules pertaining to lease transactions, several conclusions may be drawn on the general interpretation of the amended regulation, the guidelines fail to elaborate on certain important taxation issues. – Deloitte notes. Such neglected issues are the tax implications of the termination or transfer of lease contracts - in these areas a new... |
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