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Rising Number of Corporate Taxpayer Groups

Rising Number of Corporate Taxpayer Groups

Hungary
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More than a thousand companies have decided to perform the corporate income tax as a member of a so-called corporate taxpayer group, which may result in a total savings of HUF 15 billion for the companies. One of the greatest advantages of the corporate taxpayer groups is the offsetting of positive and negative tax bases, better use of tax incentives, and the non-applicability of transfer pricing rules.

According to the Hungarian Government, the new rules can increase Hungary’s competitiveness, and many foreign investors can be attracted to our country, helping Hungary becoming an investment destination.

Almost without exception, all sectors were concerned by the new tax form. More than 200 corporate taxpayer groups filed their application with the tax authority at the beginning of 2019. In average, the groups consist of 2-5 companies, but there are groups with 65 members.

By Levente Csengery, Partner, KCG Partners Law Firm

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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