The provisions of the corporate taxpayer group is applicable from 1 January 2019, and despite the short preparatory period, more than 200 company groups have so far taken advantage of this opportunity in 2019.
From 1 January 2020 a new European Union Directive (nicknamed „Quick Fixes”) will enter into force. Among several changes, rules that regulate the customer VAT numbers has been reformed.
The Hungarian legislation introduced the asset management foundation as a new type of asset management in March 2019, which is very similar to the well-known trust. According to the bill on amending certain tax laws submitted by the Hungarian Government in June 2019, the foundation performing asset management will be considered as a taxable person for corporate income tax purposes.
New EU rules enter into force on 1 July 2019 to ensure quicker and more effective resolution of tax disputes between Member States, making life easier and offering much more tax certainty for businesses and individuals experiencing double taxation issues.
The personal income tax exemption for mothers with four or more children will come into effect as of January 2020.
In the field of the double taxation there are several international conventions regulating dispute settlement, such as the rules for the Mutual Agreement Procedure (MAP), however, there are often debates among the EU Member States.