Important changes: what companies with overnight shifts must pay attention to!

• 2023 February 15

From 1 January 2023, a new mandatory declaration will be provided for in the amendment to the Labour Code.

1-min read

Increase in commuting allowance

• 2023 February 08

According to Government Decree 16/2023 (27 January), the commuting allowance has been doubled from 28 January 2023 for the period of the emergency. For daily commuting to and from work, employees can receive up to HUF 30 per kilometre tax-free from their employer. Previously, this was only 15 forints per kilometre.

1-min read

Millions can be saved: it is worth reviewing previous investment plans before 31 January 2023!

• 2023 January 23

Uncertain economic perspectives, high inflation, rising prices for goods and services, skyrocketing interest rates. In these circumstances, companies should consider whether previous investment plans are still realistic. If not, there are only a few days left for businesses to take action to save millions in interest on unused development reserves," says Alexandra Márton, Professional Director of ICT Europa Finance Zrt.

5-min read

Your company risks tax fines if you do not update your accounting rules!

• 2023 January 18

At the start of the new year, businesses should not only start closing the previous financial year, but should also look at what changes to financial accounting laws and government regulations they need to incorporate into their operations. In 2023, there are also changes for which companies have 90 days, otherwise they can expect a default fine of HUF 500,000 during a tax authority investigation," points out Anett Pető-Szűcs, accounting consultant at ICT Business Advisory Zrt.

3-min read

ICT Europa Group becomes a member of the Hungarian Franchise Association

• 2023 January 16

We are living in an age of constant change, which is also having a significant impact on the economy, so it is crucial for business leaders to keep their companies up to date.

1-min read

Tax changes in 2023 - summary

• 2023 January 10

Act XLV of 2022 amending certain tax laws has been promulgated, and the more relevant tax changes that came into force on 1 January 2023 are presented below.

5-min read

2023: Series of employment lawsuits can be expected if company management does not pay attention to this!

• 2023 January 05

The Labour Code will be amended as of 1 January 2023 under the proposed law "Amending certain employment-related laws", voted by Parliament on 7 December 2022. The management must also give reasons for immediate termination during the probationary period, warns Dr. Roland Zsidi, senior lawyer at ICT LEGAL, Termel & Zsidi Law Firm.

3-min read

Attention: employees can also pay after the Christmas present they receive!

• 2022 December 07

It's the season of the usual company gift giving and Christmas parties. With energy prices rising and a high inflationary environment, companies can expect even higher costs than usual. It is important to pay attention to what kind of gift or event is taxable, how much tax is to be declared and paid, to whom, and what can be given tax-free - says Csaba Szabó, Professional Director of ICT Europa Finance Zrt.

3-min read

Businesses can prepare for NAV audits due to tightening transfer pricing registration rules!

• 2022 December 02

Domestic transfer pricing regulations have gained new momentum this year. Legislative changes in 2022 will impose data reporting obligations on companies required to keep transfer pricing records. The most important of these is the obligation to provide data in the corporate tax return for the tax year 2022. As a result, companies with a normal tax year (1 January to 31 December of the current year) will have to include certain transfer pricing register data in their corporate tax return to be filed by 31 May 2023. It is not yet known what these data are, but it is known that the tax authority is entitled to impose a HUF 5 million fine for missing or incomplete records, warns Csaba Szabó, professional manager of ICT Europa Finance Zrt.

The Big 10X Rule

• 2022 August 24

These days it’s easy to get lost in the hype culture that surrounds business in general. I came across this article a few weeks ago and then more and more of this 10X nonsense followed.