The summer extra tax changes have been published

By: Trademagazin Date: 2024. 07. 09. 11:28

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In the 74th issue of the Magyar Közlöny published on July 8, 2024, three government decrees were announced, which introduce changes and new tax obligations regarding the taxation system, social contribution tax, and extra profit taxes. The experts of the international business and tax consulting firm Grant Thornton summarize below the most important rules introduced in the three decrees and provide assistance in the interpretation of the decrees.

Changes affecting the taxation system:

As of August 1st, the highest amount of fines for a number of defaults will increase significantly:
In general, natural person taxpayers can be fined up to HUF 400,000 instead of HUF 200,000, and non-natural person taxpayers can be fined up to HUF 1,000,000 instead of HUF 500,000.
Instead of the previous one million forints, taxpayers who employ or have employed undeclared employees must be fined up to two million forints.

Instead of one million forints, the taxpayer may be fined up to two million forints, if
fails to issue an invoice, simplified invoice, or receipt, or does not issue the invoice, simplified invoice, or receipt based on the actual consideration, or does not comply with its document retention obligation.