Hungary: Corporate Income Tax

Alessandro PasutIn addition to the taxpayer, its related company may also deduct the direct costs of the taxpayer’s own research and development efforts from its pre-tax profit, in the proportion agreed between them. The tax base decreasing item may be applied, if the R&D activities carried out by the related company are related to both the taxpayer’s and the related company’s business activity, and the related company declares the direct costs of the research and development activities and the amount that may be used by the taxpayer. The parties will be jointly liable for the contents of the declaration, and both parties will have to provide information concerning the event in the corporate income tax returns.

The rules of loss carry-forward relating to transformations have been supplemented. In the case of a transformation, the legal successor may deduct the legal predecessor’s negative tax base from its profit before tax for the first time in the tax year that includes the day of the merger.

From 1 January 2014, when determining whether a company qualifies as an owner of real estate, the proportion of the assets/real estate shown in the financial statements must be calculated on the basis of the book values, instead of the market values.

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