Happy New Year!

December 30, 2022 | Author: MGI-BPO ADMIN

We wish a happy and prosperous new (calendar) year to all the resident and non-resident individuals as defined in paragraphs 2 and 3 of Section 3 of the Personal Income Tax Act  (hereinafter referred to as the PIT Act), with whom we have a legal relationship as defined in Book 6 of the Hungarian Civil Code (hereinafter referred to as the Civil Code).

We wish you a lot of revenue as specified in Subsection (2) of Section 4 of the PIT Act and that you can reduce your consolidated tax base with a lot of allowances in accordance with Sections 29/A-29/F of the PIT Act.

If you are a member of an economic entity pursuant to Section 3:90 of the Civil Code, we also wish your company to have a net revenue in the new (calendar) year as defined in Section 72 of the Accounting Act if you did not opt for a financial year different from the calendar year as provided for in Subsection (2) of Section 11 of the Accounting Act If you have opted for a financial year different from the calendar year, this wish also applies to the financial year. Furthermore, we wish you to acquire as many fixed assets as possible in the new financial year in accordance with Section 24 of the Accounting Act and to have liquid assets provided for in Section 31 of the Accounting Act in abundance.

If the Company:

  • is subject to the Corporate Tax and Dividend Tax Act (CIT Act), we also wish you as many deductions as possible when determining the tax base under Section 7 of the CIT Act and, if possible, the tax allowances available under Sections 22/A-F of the CIT Act.
  • is subject to small business tax, we wish that in the new (calendar) year your biggest concern will be to take into consideration the large number of approved dividends payable as increasing items in the tax base in accordance with paragraph b) of Subsection (3) of Section 20 of the SBT Act.

Adding to the good wishes:

Avoid the legal consequences provided for in Part Five of the Act on the Rules of Taxation. Of these, all default penalties in Chapter XXX. should be highlighted and, in particular, avoid the tax penalty provided for in Chapter XXIX. of the Act on the Rules of Taxation. We wish that in the new  (calendar) year  you should not pay either default interest pursuant to Chapter XXVII of the Act on the Rules of Taxation or self-audit surcharge under Chapter CVIII.

 

Once again, MGIU-BPO team wishes you a happy and prosperous new (calendar) year!