Disputes concerning European Union funding
Since Hungary’s accession to the European Union, Cohesion Fund support has been the most significant source of development for businesses in Hungary. Although the EU’s multiannual budget for 2021-27 is now being spent, there are still a number of projects...
Tax liability on joint foreign accounts of spouses
The National Tax and Customs Administration (NAV) has started to review the income data from foreign financial institutions affected by the DAC2-CRS reporting. In the process, the first revision covered 2018 taxes. Here, in numerous cases, only one spouse declared...
Precedent-setting decision on insider trading by the National Bank of Hungary
The National Bank of Hungary (Magyar Nemzeti Bank) has imposed a substantial fine on one of our clients for violating the rules prohibiting insider trading, and it has also initiated criminal proceedings. The facts of the case in short were that a listed public...
Questioning the arm’s length pricing
In the case of one of our clients, the tax authorities are using a very unusual and curious method to question the open market value of an intangible asset previously acquired from an affiliate company. Recently, it is not surprising that the tax authorities have been...