Newsletters

SME INFO Nr.2023-4 Hungary –  The Autumn Tax Package 2023 brought significant changes in many aspects. In order to help the structured information flow we have classified the changes and release more INFOs.

This booklet covers the „classic” tax related changes and as usual our goal is, instead of issuing a comprehensive summary, to focus on the changes we consider significant.

SME INFO CZ Nr.2023-04 – Several amendments of legislation affecting payroll come into effect from January 2024. Changes deriving from government savings package relate among other to tax progression, employee benefits, tax benefits and social security contributions.

The tax and accounting changes adopted in the Summer of 2023 may be divided into two categories: (1). Actual changes and modifications, including significant ones such as those affecting trust asset management. (2)  Permanent implementation of measures that were previously temporarily introduced at government decree level – mostly during the time of the Ukrainian war crisis. These types of technical modifications are marked in italics, drawing attention to the fact that these are already existing regulations. The presentation of changes is not comprehensive, as we publish only those changes that we consider to be important.

Changes to the VAT Act introduced by the Amendment Act of 26 May 2023, the so-called SLIM VAT3 – coming into force on 1 July 2023.

SME INFO CZ Nr.2023-4 – Czech implementation of EU regulation regarding the protection of persons who report violations of Union law.  The new law brings new responsibilities for employers with more than 50 employees and some other specified subjects. The regulation aims to create a safe environment where whistleblowers are not afraid to report unlawful conduct, which they learned about in their work and thus will enable its correction, arrest of perpetrators, etc.

In SME Info nr.2023-2 we show the latest modifications of ‘extra profit taxes’ issued on 31 May 2023 in Government Decree 206/2023 (31.V.). The latest changes mainly related to the year 2024 overwriting the original goal of ceasing the extra profit taxes at the end of 2023.