Beneficial owner of interest and silent partnership

The Supreme Administrative Court dealt with beneficial ownership of interest in the context of the existence of a silent partnership agreement.

Interest on retained excess deductions – SAC agrees with KPMG

The Supreme Administrative Court (SAC) issued a breaking decision concerning retained excess VAT deductions, confirming that interest on a tax deduction of 1% + repo rate in effect from 1 January 2015 to 30 June 2017 is in conflict with EU law. The…

CJEU: interest on retained excess VAT deduction not to equal REPO rate

The Court of Justice of the EU (CJEU) answered a prejudicial question concerning a Hungarian company claiming interest on a retained excess VAT deduction from its local tax administrators. The CJEU held that the calculation and amount of such…

Government proposal to abolish immovable property acquisition tax goes to chamber of deputies

At its session on 30 April 2020, the government passed a proposal to abolish the tax on the acquisition of immovable property, with retrospective effect. Individuals will no longer have the option to deduct from their income tax base interest paid…

Interest on retained excess deductions after 1 January 2015 – part one

The issue of compensation for unreasonably long examinations of excess deductions has again been raised with the Supreme Administrative Court. This time the court discussed the amount of interest for the period after 1 January 2015 when a 1%…