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.
Dear Sir or Madam,
During the press conference today, the Hungarian Government has announced further extensive measures for the protection of Hungarian citizens.
In this regard, we may assure you that we are well prepared for this emergency situation. Our core team has, in the last few weeks, developed appropriate action plans, which have been now implemented. Our plans allow us to further provide our services to you on a constantly high level.
With immediate effect, our employees can also work from their home with full access to our IT and database systems. For these purposes, the IT department of LeitnerLeitner has established remote access and provided our employees with necessary mobile working devices. Due to exceptional circumstances related to the corona virus, our offices will be closed for visitors. All meetings will be held via telephone or video conference. Documentation can be still left at reception.
Under these circumstances, we are confident that we can make a valuable contribution to handle this difficult situation.
Please do not hesitate to contact your trusted advisor for any further questions.
Your LeitnerLeitner Team
We are glad to notice you about the joining of Ágnes Fotiadi as from April 2018 as a leader of LeitnerLeitner’s Transfer Pricing Business Line. She has so far headed the Transfer Pricing Unit of the Hungarian Tax and Customs Administration from its establishment. She has significant experiences in transfer pricing audits, APA and MAP negotiations domestically and cross the borders. Please find further information in the attached announcement letter.
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.