Hungary Gazettes Law Amending Various Tax Provisions

The Hungarian Official Gazette Nov. 30 published Law No. LXXXIII, amending various tax provisions. The law includes measures: 1) amending individual income tax definitions related to place of income, start-ups, and gross average earnings; 2) amending the corporate income and dividend tax provisions on nonresidents and permanent establishments (PEs); 3) specifying criteria for claiming tax reductions for the qualified alternative investment or renovation cost; 4) amending provisions regarding the liability of specified nonresidents for social contribution tax; 5) allowing loss carryforwards by certain taxpayers subject to tax due to a merger or separation; 6) amending VAT exemptions, input VAT deductions, ...