Outreaching to good causes and social responsibility has always been important to our company (BPO) and employees (e.g. a fundraising evening organized with Crescendo Foundation, Family Day with guide dogs). Therefore, we are pleased to inform you that our new initiatives continue. With their professional knowledge our employees supported an important matter: they contributed to the April issue of Tax Code: Compass to civil society organizations and public bodies (Issue 2017/4), thus filling the gap left by the termination of publication Nonprofit Guide.

Why is this of great importance?

On the one hand, it is an up-to-date niche professional material, a guidance showing the legal background of civil society organizations and public bodies summarizing their daily operations. Given the myriads of legislative changes it is obvious that following and observing them is a heavy burden on the officers, members and founders of this sector.  Understanding the legal, economic, accounting and tax frameworks is also challenging and obtaining this information is very time consuming.

On the other hand, this publication that can be ordered both online or on paper helps the work of associations, foundations and public bodies which – as non-profit organizations – do not have sufficient resources to obtain and systematize this information by themselves.
This professional collection provides important information for the employees of organizations that perform useful work for the society in healthcare, education, sports, social or cultural fields, for example!

The third reason why we are proud of this publication is that five out of its four chapters – presenting management, accounting and taxation issues and detailing different forms of support – were completed under the guidance of two BPO partners, Ildikó Miszori and Szilvia Sarkadi-Nagy, in cooperation with the professional specialists of BPO.

What you should know about publication Compass to civil society organizations and public bodies 2017’

It is important to point out that the chapters systematically summarize the relevant legislation. From the beginning, the publication intended to provide clues to and reflect on the most common cases in practice. So compass was a good choice for the title. By using confirmed professional experience, the nearly 100-page professional summary also serves with practical advice to those interested.

The authors cover the 2017 legislative changes in all matters concerned!
The publication reveals among other things the benefits that may relate to the services and allowances of the civil society organizations and public bodies (e.g. who can provide tax-free scholarships, receiving donations, the issue of membership fee).
Building on the solid audit experiences of our colleagues, a separate chapter details the possible forms of supports that covers grant assistances (typical points of failure and expectations), the rules governing fundraising opportunities, the type of tax benefits organizations may claim/use, the laws applying to the supports received from economic operators (corporate income tax, donations).

The authors heartily recommend the publication to those intending to establish a civil society organization, the board members, officers, active members, accountants and auditors of existing organizations. For them it is unavoidable to use the Civil compass!

Special thanks to the colleagues of BPO Audit and Tax who participated in the preparation of the publication!