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The Hungarian and the US governments agree on the exchange of the Country-by-Country Reports
As it is already known, the OECD set up a 15-point action plan for base erosion and against artificial profit shifting in 2015[1] [last year's tax liability was described in detail, HERE]. BEPS Action 13 also requires a yearly reporting obligation to the transfer pricing documentation for the parent company of the affected multinational entity [hereinafter: MNE], and in some cases for its affiliated companies. This reporting obligation is referred to as the country-by-country reporting [herei..
The new challenge of the digital taxation
 - The HTA’s online invoice audit -  Pursuant to a new liability from 1st July 2018 all Hungarian taxpayers will be required to supply data online to the HTA regarding invoices in which at least HUF 100,000 value added tax (VAT) is charged. As always, PMX keeps up with the changes and we are ready to provide professional tax assistance to you and your IT development team to guarantee for the development to be completed on time. Read further information on our new service here: LINK
AGN EURM2017 Conference
As the Hungarian Member of the AGN International organization, in June we were happy to greet other AGN Member Companies at the EURM2017 Conference in Budapest. AGN is an international association aiming to ally companies involved in tax consulting, auditing, accounting and financial services into a cross-border network that shares cooperative, synergistic, and professional knowledge and experience, but takes maximum account of the individual values and independence. There are currently 182 ..
Programme for this summer: AGN Meeting in Budapest, 2017
We were delighted to hear that the AGN International* decided to organise its European Regional Meeting (EURM2017) in Budapest, thus – as the sole Hungarian Member of AGN, PMX Consulting will also have an important role on the event. We firmly believe that this is an excellent opportunity not only for us, but also for our Clients, since the Meeting brings several benefits. Besides that we can participate in different tax, economic and business presentations, which provide us with a large amo..
We wish you a Merry Christmas and a Happy New Year
We wish you a Merry Christmas and a prosperous happy New Year!  
Christmas charity baking – team building event
Based on our experiences have being collected during the past years, it can be said that for the efficient work it is inevitable to have a cohesive team, whose members can communicate fluently and cooperate with each other, and who have good time together in the office, as well.  To preserve and improve our little, well-functioning community, we are always trying to organize entertaining and useful team building events. We have already been to rafting and ice skating together, managed t..
Commission finds Hungarian advertisement tax in breach of EU rules
Pursuant to the European Commission’s press release - published on 4th November 2016 - the Hungarian advertisement tax, which was introduced in 2014, is in breach of EU State aid rules. It unduly favours certain companies and does not guarantee equal treatment, therefore the Commission in its decision requires Hungary to terminate these infringements. The Commission objected basically the non-conformity of the progressive tax rates (companies with a lower advertisement turnover were subjec..
A new, major corporate tax reform proposal for the EU
This week the European Commission announced the plan of a monumental corporate tax reform proposal, which can influence certain tax payers having activities in the territory of Hungary. In our newsletter we are aiming to investigate and review the proposal. The freshly announced, so-called Common Consolidated Corporate Tax Base (hereinafter: CCCTB) initiation is a renewed revival and development of an earlier process, that has been launched in 2011. According to the planned regulation, the d..
PMX and the social media
  Dear Clients,   We are glad to inform you that hereafter you can find the newest tax regulations, tax and accounting changes and economic predictions not only on our website and our Linkedin profile, but also on Facebook, Twitter and Instagram, as well, including our tax experts’ explanations and professional opinion.   Our main aim is – as always – to facilitate the smoother communication, and to provide you with qualitative, useful content. However, this perspective ha..
Renovation - changes of seat address
Dear Clients and Partners, We are gladly inform you that since we aim to continuously develop and strive for perfection, our office is going to be renovated and renewed to be able to greet you in a nicer and more modern milieu. The renovation starts on 1st October 2016. During the time of the renovation we will move to the House of Business Roosevelt Office Building, which is located at Széchényi István square. It is important to emphasize, that during this interim period our seat and mail..
Mutual Agreement Procedure
Although Hungary has quite wide and modern Double Taxation Treaty [DTT] network, there may be cases when the tax burden of a transaction is disadvantageous for the taxpayers. In the case of cross-border transactions involving more countries, double taxation, double-residence, non-applicable tax benefit etc. may occur and this might result for taxpayer in taxation, which is not in accordance with the provisions of the Convention and also results disadvantageous and unfavorable tax treatment. ..
We became an AGN International Member
Dear Clients, We are pleased to announce that in June 2016 we received the opportunity to join to the AGN International, thereby in the future we will be able to broaden our clientele, to improve the palette of our consulting services and to become even more efficient in accomplishing our Clients’ arising demands regarding oversea expansion.   But what is AGN International? AGN International is a global association of separate and independent accounting and advisory businesses. The..
News: EU Anti-Tax Avoidance Directive and EU CbC Directive
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
      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..
The banking- and tax secrets might be safe in less and less countries
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..