Political agreement on EU Anti-Tax Avoidance Directive postponed to June; EU CbC Directive adopted; EU-blacklist of non-EU tax havens announced On 25 May 2016, the EU Council was called on to reach a political agreement on the EU Anti-Tax Avoidance Directive (“ATAD”). In addition it was due to adopt two other texts: (i) a directive on EU country-by-country reporting by multinationals and (ii) conclusions on external taxation strategy (EU-blacklist of non-EU tax havens) and measures against t..

      The EU’s anti-tax avoidance directive proposal is available. The proposed directive is entitled “directive about laying down rules against tax avoidance practices that directly affect the functioning of the internal market”, and in case of the Council’s consent, remarkable changes can be expected on the field of corporate taxation. The OECD’s “BEPS” (Base Erosion and Profit Shifting) action plans can be regarded as the directive’s definite antecedents thus the explana..

We wrote about the automatic data exchange system in the European Union in our previous article. Now we examine in detail the measures on the global scale. Based on the direction of the improvement of the most recent regulation on an international level, we can say that ever less countries might be in a position to guarantee a secured protection for the information regarding the financial assets located in the respective country thus making it more difficult for the tax authorities to impose..

  On the 1st of January 2016 a new phase began in the execution of the so-called automatic data exchange directive (Council Directive 2011/16/EU on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC (hereinafter: Directive)).   This Directive makes it possible for the authorities of the member states to be informed about information which is connected to financial assets located in an other state. From this year’s January on due to the data ex..

  Several tax-related conventions of the Government of Hungary have been enacted in the recent period of time, but some of them were not applicable until January 1st 2016. However as of the beginning of 2016 there are newly applicable conventions and also a protocol for an existing convention as follows: Act CL of the year 2015 (Convention between Hungary and the Principality of Lichtenstein)   “Convention between Hungary and the principality of Liechtenstein for the avoida..

    Several tax-related conventions of the Government of Hungary have been enacted in the recent period of time, but some of them were not applicable until January 1st 2016. However as of the beginning of 2016 there are newly applicable conventions and also a protocol for an existing convention as follows: Act CL of the year 2015 (Convention between Hungary and the Principality of Lichtenstein)   “Convention between Hungary and the principality of Liechtenstein for th..

  The OECD (Organization for Economic Cooperation and Development has published it’s 13th BEPS (Base Erosion and Profit Shifting) action plan. Some of it’s most important recommendations concern transfer pricing. The extensive material introduces more changes on the field of transfer prices, but the most significant change affects the transfer pricing obligation itself. According to the proposal (which the OECD recommends to use from 2016 on in case of company groups with consolidated..

Today the Hungarian law to ratify the Agreement between the Government of Hungary and the Government of Jersey on exchange of information on tax matters has been published. The Treaty will enter into force after Jersey's ratification.

Today the Hungarian law to ratify the Convention between the Government of Hungary and the Government of the Kingdom of Bahrain for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (signed on 24th February 2014) has been published. With the Hungarian Party's publication today, the Convention shall enter into force soon, as follows (the Bahraini Party has already ratified the Treaty on 26th March 2014):   Act No. XLIX. of 2..

On 4 October 2014, the Income Tax Treaty  between Hungary and United Arab Emirates (2013) entered into force. The treaty generally applies from 1 January 2015.

We are pleased to announce that after having the 2014 International Tax Award, the Acquisition International awarded PMX Consulting Group Kft. again as being the Best Transfer Pricing Team of 2014 in Hungary. We are very happy and honoured about getting such great recognition! We remain at your disposal.

We are pleased to announce that PMX Consulting Group Kft. has won the 2014 International Tax Award of Acquisition International in Hungary. We are very happy and honoured about getting such great recognition! We  remain at your disposal.

On January 28, 2014 H.E. Mr. János Csák, Ambassador of Hungary in London and Sir Philip Bailhache, External Relations Minister of Jersey have signed the „Agreement on exchange of information on tax matters between the Government of Hungary and the Government of Jersey”- announced the Ministry for National Economy. As a result of agreements on the exchange of tax information, national tax administrations can request information from each other for specific cases thereby limiting the possibili..

We are pleased to inform our Clients, that PMX Consulting Group was awarded the 'Consulting Firm of the Year 2013 in Hungary' title by Acquisition International, a prestigious international financial magazine. Your vote also contributed to this outcome. Thank you for placing your trust and confidence in us! We  remain at your disposal.

The European Commission published its proposal for a Council directive amending Directive 2006/112/EC on the common system of value added tax as regards a standard VAT return. The context of the proposal is that the VAT system requires businesses to complete periodic VAT returns which can be especially complex when submitting VAT returns in different Member States. The complexity is the result of providing different information, the information not having harmonised definitions, the lack of ..