3 Special Report Taxes & Accounting

Market Talk: Wanted, Better Language Skills, More Digitization, Fewer Taxes

system (such as the focus on indirect tax revenues in the budget and low corporate tax and personal income tax rates) that provide a certain level of predictability. There are several principles based on EU guidelines, which could also be viewed as instruments enhancing the stability and predictability of our tax regulations.

BBJ: Is Hungary’s tax and accountancy regime reasonably stable, or have there been significant changes for 2023?

István Nemecz: The 2023 tax package sets out new important transfer pricing rules, forcing the synchronization of year-end tasks. A completely new requirement is the introduction of a data reporting obligation as part of the corporate income tax returns, which is applicable for filings in 2023. There are no significant changes on the accounting side in 2023; the Act on Accounting has been a stable law, albeit with continuously increasing signs of IFRS harmonization.

György Boár: In the past few years, the significant changes wts-bbj-pr-252x158-202302:Layout 1 2/17/23 11:17 AM Page 1