Stricter Rules from January 1, 2025
Starting from January 1, 2025, any party – even a competitor – may initiate a legality supervision procedure if the financial statements are not publicly available. We previously discussed these changes in detail:
👉 [Stricter rules for publishing financial statements – Your business could be at risk] (Hungarian only)
Why is publication important?
A publicly available financial statement allows authorities, business partners, creditors, and investors to assess the company’s financial position. This requirement applies to all Hungarian companies that use double-entry bookkeeping and are registered in the company register.
Only Approved Financial Statements Can Be Submitted
Financial statements must be approved by the company’s supreme body (e.g. shareholders’ meeting). Only the approved version can be published. If approval is postponed for any reason, the submission cannot be completed – even if the legal deadline expires in the meantime.
How to Submit?
Statements must be filed electronically through the OBR system (Online Reporting and Form Filling System) using an official digital access point (Client Gateway – “Ügyfélkapu”, or the Digital Citizenship Program – DAP).
Important: without a valid digital contact address, submission is not possible.
👉 [Read more: From January, Client Gateway or DAP is mandatory] (Hungarian only)
After successful submission, the OBR system issues a confirmation, and the report appears on e-beszamolo.im.gov.hu, fulfilling the filing and publication obligation.
Deadline
The annual report must be published within five months following the balance sheet date.
For calendar-year companies, this is May 31.
If the business year ends on a different date (e.g. June 30), the deadline will be November 30.
⚠️ The submission must be completed by the deadline – not just the approval.
What Happens If the Report Is Not Submitted?
The Hungarian Tax Authority (NAV) follows a three-step procedure:
- First notice – 30 days to comply, no fine yet.
- Second notice – another 30 days, HUF 200,000 fine (halved for reliable taxpayers).
- Tax number deletion – NAV deletes the tax number and notifies the court if non-compliance continues.
After this, the company court initiates a compulsory dissolution, resulting in the termination of the company.
Consequences of Tax Number Deletion
- The company cannot issue invoices or receipts.
- Cannot deduct VAT.
- Cannot engage in business activities.
In essence: the company still exists legally but is no longer operational.
Can the Process Be Reversed?
Yes – as long as the deletion decision is not yet final, the financial statements can still be submitted.
If the court procedure has already started, filing the report can terminate the process, but a procedural fee of HUF 50,000 must be paid.
Summary
Filing annual financial statements is not a simple formality – it is a fundamental legal and economic requirement. Missing the deadline may lead to penalties, tax number deletion, and ultimately, termination of the company.
Since the regulatory changes, not only NAV but any third party may initiate proceedings if the report is not public – making timely compliance more important than ever.
Legal References (available in Hungarian):
- Act C of 2000 – on Accounting
- Act V of 2006 – on Company Disclosure
- Act CL of 2017 – on the Rules of Taxation
- e-beszamolo.im.gov.hu – FAQ
Want to Ensure the Security of Your Company’s Operations?
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