Leitner + Leitner Tax Kft. is in Hungary one of the market leading advisory firms in the field of national and international taxation, while Leitner + Leitner Audit Kft. provides its high quality accounting, payroll and also audit services. Our 60 highly qualified colleagues and our group covering 13 locations have ensured our position among the best advisory firms of the region for many years.
One of the purposes of the Hungarian Electronic Public Road Trade Control System (“EKAER”) is to prevent and reveal VAT fraud. It also frequently happens that the system helps to control the proper VAT treatment of certain transactions. We support you with the review of EKAER reporting practices, during which we explicitly focus on the potential mistakes in your company’s VAT procedure. We are also pleased to review or prepare the respective EKAER policies.
The introduction of the online access to invoicing programs has been postponed. Therefore, you can utilize this period for the revision of your invoicing program. Soon, invoices have to be prepared by programs capable of online, real time reporting of data. The test period has already started, the .xml schemes are available and the test surface of the tax authority is ready to work.
The requirements for the data export, however, are already in place. Does the invoicing software used by your company fulfill the requirements?
LeitnerLeitner already issues electronic invoices. In case your company also intends to follow this approach, we are at your assistance not only with a deep knowledge of the relevant legal requirements, but also with our practical experiences. You may turn to our advisors in order to examine your invoicing software, and to harmonize your business management systems.
For more information, please visit our Hungarian blog post and in case you have any questions please feel free to contact us.
An article of The Tax Aspects of Hungarian Real Estate written by Judit Jancsa-Pék was published in Budapest Business Journal.
An IFRS transition is possible from next year on, however, you have to start your preparations in time. The pre-condition for an IFRS transition is to obtain the official opinion of an IFRS qualified auditor about the readiness of the entity for IFRS accounting, which is a time consuming process. Moreover, the transfer of the whole accounting system is a challenging task and as a result, it is suggested to map even the unlikely effects and to perform bookkeeping according to IFRS as well prior to the transition. You may turn to our colleagues in IFRS transition issues. LeitnerLeitner will assist you with IFRS bookkeeping and transition advisory.