Accounting & advisory services since 1989

08.06.17

No More Hiding Abroad

The current law prescribes that all the Hungarian banks have to inform the tax authorities (NAV) about all the bank accounts opened by their corporate clients. This enables NAV to collect the tax debts. However many companies have bank accounts abroad, which are not known by NAV.

According to a proposal, the foreign bank accounts should also be registered at NAV from 1 January 2018. This would actually not be a problem for the regularly operating companies, but would close an option for those who are not paying the taxes properly.

However this is still a proposal only. Once it will be in force, we will inform you about the details.


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