Changes of Act on Global Minimum Tax – Hungary, Autumn 2024

SME INFO Nr.2024-3 – The Global Minimum Tax Act entered into force on 31 December 2023, and multinational and large-scale domestic groups falling within its scope will first be required to fulfil their filing obligations for 2024 by 30 June 2026. In addition to drafting clarifications and the introduction of a method of allocating the additional top-up tax amount under UTPR among group members, the autumn tax package 2024 includes two major adjustments to the reporting and declaration obligations of those, covered by it. On the one hand, the data content of the reporting obligation due on 31 December 2024 for calendar-year taxpayers has been declared and on the other hand, advance payment obligation has been introduced from 2025 onwards.

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Changes of Act on Global Minimum Tax – Hungary, Autumn 2024 – SME Info nr.2024-3

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A 2024 őszén elfogadott, globális minimumadó törvényt érintő változások – SME Info nr.2024-3

In this newsletter on the current amendments to the Global Minimum Tax Act, we report on the two most important changes concerning the obligations of those subject to the global minimum tax, published in Gazette No. 119 on 28 November 2024, as part of the autumn tax package. The addendum concerning the scope of data to be reported also affects the reporting obligation due on 31 December 2024, in this regard, the Tax Authority (NAV), helping taxpayers prepare for data reporting, published the draft forms, filling instructions and the document supporting the preparation of the xml on 15 November 2024. Since then, both the form and the instructions for filling in have been available on ONYA’s interface, both in Hungarian and English.

Furthermore, we briefly summarize in this newsletter the essence and practical significance of an ongoing proposal „DAC9”, already adopted by the European Commission to reduce the administrative burden of those subject to the global minimum tax…

Please download the pdf of the newsletter to read all next chapters:

1 Introduction

2 Taxpayer notifying rules

2.1 Scope of data to be reported according to the legislative amendment

2.2 Content of the notification according to the forms published by the tax authority and instructions for completion

2.3 Possibility to correct reported data

2.4 Sanctioning failure or delay in complying with the reporting obligation

3 Top-up tax advance payment rules

4 The importance of the dac9 proposal adopted by the european commission

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