There is a new requirement from OECD towards those multinational companies with yearly group revenue over EUR 750 million. It is called Country-by-Country Report, and it aims to discover the tax evasion practices of these companies. The reporting obligation is valid since 2016, but the local regulations have been passed this year, and the first reporting deadline is end of 2017.
All the member companies of the reporting groups have to submit reports and/or declarations to their local tax office. This procedure is regulated in Hungary by two laws. If you fail to report or make mistakes, huge fine can be levied. Usually the accounting service provider prepares these reports.
It is important to be familiar with your obligations and submit all the necessary forms and reports in time.
If you have any further question, contact us.
Do You Have To Prepare CbC Report?
Recent Posts
August 24, 2026
Why Hungary Has the Lowest Corporate Tax Rate in the EU
Hungary applies a single flat corporate income tax (CIT) rate of 9%, the lowest standard rate anywhere in the European Union. The rate has stood…
August 24, 2026
Plan Your Labour Costs in Hungary
Proper planning is key to every successful business activity. While certain payroll schemes are similar across markets, labour costs and taxation are unique to each…
July 22, 2026
Common VAT Mistakes in Hungary and How to Avoid Them
Value added tax (VAT) applies to most goods and services bought and sold across the European Union. While the EU sets standard rules, each member…