Mária Lakatos

Taxation in General: Hungarian Tax System

Tax advance

Tax advance shall be established based on the data of the previous year, which means that the tax advance shall be equal to the sum of tax for the previous year, if the duration of the tax year prior to the tax year of assessment was 12 months. In other cases the amount of the tax advance shall be established based on the number of calendar days in the year fragment of operation and shall be multiplied to give the sum of the tax advance for 12 months. This means that the expectable tax liability for the next fiscal year shall be established pro rata of the year fragment that has preceded it.

The tax advance is due and payable in equal monthly instalments if the tax payable for the previous tax year is in excess of HUF 5 M and quarterly, if less.

Taxation in General: Hungarian Tax System

Tartalomjegyzék

Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2022

ISBN: 978 963 664 137 5

Taxation is a scheme for the state to provide revenue. The so collected money could then cover the public spending of the government. These are the so-called allocative and redistributive functions of the state budget. Although, taxation theory discusses the various tax types and analyses the various taxation tools very extensively, there is no absolute answer to the question, when and what type of taxation system would be optimal. Thus this introductory book on taxation deals with the three basic types of taxes - the income tax, the VAT and the corporation tax - in a very pragmatic way. There are legal texts and cases from both the international and also from the relevant Hungarian practice.

This book is recommended not only for students of economics but also for law students and practitioners beside anyone who is interested in the basic regulations of taxation.

Hivatkozás: https://mersz.hu/lakatos-taxation-in-general-hungarian-tax-system//

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