International Tax, Accounting and Law Firm in Hungary

Digital Services

Digitalization 

 

The new digital technologies that we have continuously implemented over the recent years have proved to enhance the benefits of our clients when working with us. Some of the main advantages lie in efficient data access for your firm, enhanced work-flow procedures coupled with excellent data safety, reliability and GDPR-compliance.

Digital technology provides numerous advantages also in communication, making online meetings possible from all over the globe. 

 

Setting up digital accounting and tax systems

 

Whether you wish to implement an already existing digital ERP, accounting or invoicing system, such as SAP, Microsoft Dynamics or DATEV used by your headquarters, or whether you are looking for a new system to be used in Hungary, we have the right experts to guide you through the process.

In addition to our excellent working relationship with some of the most acknowledged ERP software suppliers in Hungary, we have a good country-wide experience with the accounting, tax and other integrated software available. With our founded expertise we can provide support on implementing systems that best fulfil the requirements of your company headquarters.  This way we can help you introduce digital solutions that will meet your needs at an optimum, including the transfer of electronic data and meeting Hungarian compliance regulations at the same time. 

 

Case Study:

Our Client, a mid-sized foreign company needed a digital solution to complement their ERP system. Their aim was to produce invoices with Hungarian VAT in a compliant manner, send them to the Hungarian Tax Authority as data files and also to generate VAT returns.

Advising them in the process, we evaluated several digital solutions and supported the client in implementing the technology that could deliver the best result for their very specific situation.

 

 

Digitalization for tax returns and VAT

 

Tax fines, primarily in the area of VAT, are considered as a significant business risk in Hungary. As all tax returns are to be filed electronically, it is of utmost importance that the data in your ERP or accounting software is accurate and handled correctly for the purposes of tax and VAT returns.

To make sure that the systems that are responsible for generating tax returns are reliable, we offer system audits to check for mistakes in handling tax relevant aspects and propose ways to correct them. We support our clients with correcting the mistakes discovered, typically by changing system settings and correcting their corporate income tax, personal income tax or VAT returns.

We can also help you with the transfer and data-flow analysis of tax related data and information between different systems.

 

Case Study:

The Client is the Hungarian subsidiary of a large international technical manufacturing firm. The  worldwide operations of the group, including the Hungarian subsidiary, rely on their in-company ERP software. In a tax audit we discovered that their digital system was handling a certain type of mass -generated business transaction incorrectly.

We helped the firm to correct the mistake, in a first step by using a temporary compliance solution, until, in a second step,  the ERP software could be re-parametrized based on our advice. At the same time, we supported the subsidiary with  retrospectively correcting their tax returns. As a result, the client avoided a significant amount of tax fines.

 

 

Digital accounting services

 

We strongly believe in digitalization and understand our clients’ need for data reliability, accessibility and compliance when they outsource their accounting with us. Our digital accounting software enables us to work with your accounting data in an environment that offers maximum data security, protection and GDPR compliance. 

The digital handling and storage of documents including invoices, contracts and other types of documentation allows easy and reliable access within the system. Our fully digital system enables us to work safely and efficiently with all types of digitalized documents.  We file all tax returns electronically and our international clients can have direct access to the digital administration system of the Hungarian Government, if they whish to do so. Our completely digital accounting software enables us to handle the entire process as a paperless procedure. 

It is important for us to provide support with the reports and information you need for management purposes. In addition, our digital software allows you to have direct, real-time access to the data of your firm. The ability to log in safely  anywhere and anytime, provides your firm not just with a better overview of processes, but also facilitates important functions such as financial planning and controlling.

Although we have strongly invested into state-of-the-art digital solutions, personal communication is still key to us. Regular personal contact and long-term relationships with our clients, many of whom we have proudly served for many years now, are an important cornerstone of our practice.

 

Case Study:

Our Client is a mid-sized  international service provider. We are responsible for the entire accounting and tax compliance process of their Hungarian subsidiary.

We transfer reports and further data needed by their headquarters directly from our digital system into their ERP, allowing them to benefit from all the advantages of an in-house function. In addition, with the help of an internet-based accounting app, they have the possibility to gain insight into their data within our system.



We are dedicated to adding value to our clients’ businesses through understanding their objectives and supporting them in achieving their goals. With over 20 years of international experience  and a strong focus on digitalization we provide full scale professional services at a single point of contact.


In our Case Studies we have described some examples of how we work for our clients and what benefits we have achieved for them.


A member firm of DFK International a worldwide association of independent accounting firms and business advisers



Services

Financial Audit

  • Legal audit from a practical perspective
  • Statutory and voluntary auditing
  • Specialized audits
  • Valuations

Tax Advice

  • Hungarian and international tax advice
  • Tax planning
  • Tax returns
  • Tax reviews
  • Legal representation in taxation issues

Accounting

  • Accounting and reporting
  • IFRS, US-GAAP
  • Payroll services
  • Outsourcing
  • Registered office

Legal Services

  • Incorporation of companies
  • Business and trade law
  • Property law
  • Labour law
  • Legal due diligence
  • Dispute resolution and litigation
  • Debt collection