Attention! Important deadline! Choosing to enter into corporate income tax groups until 20 November

Hungarian affiliated enterprises have had the opportunity to form corporate income tax groups for nearly two years, since 1 January 2019.

Already in the first year, more than two hundred groups submitted their applications from a wide variety of industries, which means more than a thousand enterprises. This number has continued to increase since. An average group consists of between two and five companies, and according to the calculations of the government, these companies combined were able to save up to HUF 15 billion through the use of corporate income tax groups. For the 2021 business year, the companies concerned may submit their declaration to enter a corporate income tax group between 1 November 2020 and 20 November 2020, and it is also in this period when applications may be submitted in case a new member wishes to join an existing group. (Companies whose business year differs from the calendar year, can submit their applications between the first and the twentieth day of the penultimate month of their tax year.)

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