EY: Businesses around the world expect more and more tax audits

By: Trademagazin Date: 2023. 04. 25. 12:20

The majority of those surveyed (51%) expect more and more intensive investigations by tax authorities in the coming period, and based on their expectations (53%) the offices will pay special attention to international tax and transfer pricing matters.

“The data resonates with the expectations of Hungarian company managers”

– emphasized dr. Gergely Séra, head of EY’s area dealing with tax litigation. In recent years, the National Tax and Customs Office has undergone spectacular development, thanks to which it is capable of more targeted inspections, thereby significantly reducing the possibility of tax evasion.

According to the results of the international research, the respondents consider transfer pricing to be the most significant tax risk (63%), followed by tax benefits (35%) and expense deductions (31%).

“In Hungary, a new task is assigned to the taxpayers obliged to prepare the transfer price register. According to the legislation adopted last year, this year they must already provide information about their related transactions in their corporate tax returns. In addition to the increasing obligations to provide data, the amount of fines that can be imposed will also increase by orders of magnitude”

– stressed Zoltán Lipták, EY’s tax partner.