Page 7 - 20140114_PS-Newsletter_On-Changes-of-Taxation

PS Newslett er
14 January 2014

Income tax of energy suppliers
According to the adopted amendments the tax base does
not need to be increased in case of successive preferen-
tial transformations or preferential exchange of shares.
Taxpayers will be obliged to make advance payments in
respect of this tax type from 2014.
As per the main rule, the taxpayers shall declare tax
advance for a period of 12 months starting from the first
day of the second month following the due date of their
tax return.
The amount of the advance shall equal to the annualized
tax liability of the previous tax year.
The frequency of advance payment depends on the
amount of the previous year’s tax liability. The advance
will be due on a monthly basis if the amount of the tax
due exceeds HUF 5 million. Otherwise quarterly instal-
ments will have to be paid.
The advance payment obligation should be fulfilled for
the first time for the tax year of 2014.
Public utility line tax
The progressive tax credit scheme for communication
lines will be expanded, and the scheme itself will be sim-
plified. The Act specifies that the tax credit shall not be
regarded as de minimis aid as under EU regulation pro-
gressive tax credits available to anyone do not qualify as
de minimis aid.

The purpose of our newsletter is to provide general information and
to draw the attention to the current changes in law which we believe
to be important for the business operation of our clients. It is not a
replacement for careful review of the acts and rules and the consul-
tation with your tax advisor. We Solve Accounting Problems
© Copyright 2014, Process Solutions – All rights reserved. www.ps-bpo.com

On changes Of taxatiOn 7