There’s a new windfall value-added tax (“VAT”) reclaim opportunity in Hungary based on a recent judgment of the Court of Justice of the European Union (“CJEU”).

In the Official Gazette of the Republic of Serbia no. 71, dated August 16, 2024, a new Rulebook on Tax Exemption on Capital Gains Realized from the Transfer of Copyright, Related Rights, and Industrial Property Rights (“Rulebook“) was published.

In Estonia, the push toward renewable energy, particularly offshore projects, is gaining momentum, with recent developments in grid connections and government support schemes, according to Njord Partner Triinu Hiob who also reports on tax changes and judicial reforms on the horizon.

We have begun our analysis of how to calculate the five-calendar day period specified in Art. 10 para. (7) of the Emergency Ordinance 120/2021 on the management, operation and implementation of the national e-invoicing system RO e-Factura[1] (“GEO 120/2021”) in the context of the Ministry of Finance’s LinkedIn post of August 2024, namely:

Manufacturers have less than a month left - until June 30, 2024 - before they must comply with the rules for products subject to the mandatory Deposit Refund System (DRS) when placing them on the market. Compliance with the new regulations will result in a price increase of HUF 50 per product, which consumers will have to bear - unless they return the relevant beverage cans and bottles.

As in every year, the Hungarian tax administration has published its yearly summary with the most important trends and numbers regarding taxation in Hungary during 2023. In the last year it seemed that, while the tax authority was still increasing its efforts to entice the taxpayers’ voluntary compliance, fines have also soared to unprecedented heights. The statistics also show that it remains worthwhile to take the case to the courts if one finds the National Tax and Customs Administration’s decisions unlawful.