Hungary – Corporate Income Tax Changes 2013

The condition of continuing the former activity for two years in order to be allowed to recognize the carried forward losses of the legal predecessor might even apply to acquisitions. In this case the draft law stipulates the same exception if the acquired entity dissolves without a legal successor within the two years concerned. This provision may be applied already to tax filings for 2012.

Development tax allowance. According to the new rules, taxpayers are required to report the date of the project completion to the minister responsible for tax matters if they wish to receive development tax incentive.

Controlled foreign company. In the case of controlled foreign companies having a negative or zero tax base or result, the lowest tax rate will be considered if the respective country has several tax rates in force. The burden of proof of verifying that a Hungarian resident private individual does not control directly or indirectly 10% of the voting rights or the capital of the investigated company does not lie with the taxpayer.



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