16cbc-form-available | KPMG Hungary

16CBC form available

16CBC form available

The Hungarian Tax Authority(’HTA’) has published on its website the 16CBC form to be applied with regards to the obligation of country by country reporting (‘CBCR’), which came into force on 31 May 2017.

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The Hungarian Tax Authority(’HTA’) has published on its website the 16CBC form to be applied with regards to the obligation of country by country reporting (‘CBCR’), which came into force on 31 May 2017.

Only those MNEs are obliged to submit the sheet 16CBC form, which achieved at least an annual consolidated group revenue of EUR 750 million in the fiscal year preceding the reporting fiscal year. Under general rule, the ultimate parent company shall file the country-by-country report, but a group member other than the parent company can also be assigned as the reporting entity. The obligation shall be fulfilled within 12 months after the last day of the fiscal year. Please find our previous newsletter regarding the rules of CBCR here.

According to the changes effective from May, a group member that is not obliged to submit the CBCR shall declare that it does not have such obligation, and shall also name the entity and the country in which the reporting will be filed with the tax authority. For this purpose tax payers shall use the notification sheet 17T201T supplied by HTA. Tax payers whose tax year corresponds to the calendar year, shall submit their declarations until 31 December 2017 regarding financial years 2016 and 2017.

If you have any further questions concerning the points above, please contact Mihály Gódor (Director) (Phone.: +36 1 887 7340, mihaly.godor@kpmg.hu),
Szabolcs Végh (Senior Manager) (Phone.: +36 1 887 7213, szabolcs.vegh@kpmg.hu), or your regular tax advisor at KPMG’s Tax Department.
 

© 2017 KPMG Hungária Kft., a magyar jog alapján bejegyzett korlátolt felelősségű társaság, és egyben a független tagtársaságokból álló KPMG-hálózat magyar tagja, amely hálózat a KPMG International Cooperative-hez (“KPMG International”), a Svájci Államszövetség joga alapján bejegyzett jogi személyhez kapcsolódik. Minden jog fenntartva.

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