Tax Reporting & Compliance Services

The centralization of financial and accounting functions brought new challenges for SSC/BSC/BPO responsible for the administration of groups of companies. Compliance with complex local rules, the use of different technologies and in many cases the central management of manual processes pose greater risk and require more effort from these centers. Outsourcing these functions to a specialized service provider may be an appropriate solution.

Each group of companies is unique, so the services they use are also different. The following tasks are most often outsourced to us within Tax Reporting & Compliance Services:

Tax Reporting & Compliance Services HungaryAccounting tasks

  • supervision of accounting in accordance with the Hungarian Accounting Act, conversion of IFRS/USGAAP accounting into accounting records compliant with the Hungarian Accounting Act
  • posting of Hungarian tax liabilities in Hungarian and international registers
  • Hungarian accounting tasks related to the year-end closing of books
  • cooperation in auditing, providing data to auditors
  • drawing up the Hungarian annual financial statements

Tax tasks

  • tax registration with central and local tax authorities
  • reviewing VAT subledgers, compiling VAT returns
  • preparation of corporate tax returns
  • other tax returns
  • permanent representation before the tax authority
  • tax / accounting trainings for employees

Payroll services

  • registering and deregistering local employees
  • compilation of payroll
  • tax calculations, general ledger postings
  • preparation of tax returns

Who do we recommend these services to?

  • To companies where, by a decision of the parent company and the management, accounting is performed centrally rather than in Hungary
  • Where day-to-day accounting is carried out at the company but there is no chief accountant or a professional manager
  • To companies that are not subjected to a statutory audit but want a security control
  • Companies subjected to a statutory audit are reassured that the audit can be performed well and quickly due to the services that provide control
  • It is also advisable to use an accounting support service even in cases where the recording of data does not require in-depth, more specialized professional knowledge, but reviewing the general ledger and preparing returns and reports require real expertise
  • To those who find it useful to have their accounts checked

How can BPO support you?

  • by providing quick and continuous information on professional changes that helps a company’s employees working in the accounting departing to obtain the necessary professional knowledge in a timely and reliable manner,
  • helping foreign professionals who have questions about Hungarian rules or their interpretation efficiently and quickly due to our better and deeper knowledge of domestic rules,
  • helping our clients keep their books correctly by providing them with accurate and up-to-date information, avoiding tax risks or subsequent adjustments.

Our services provide

  • professional and quality guarantees
  • continuous availability
  • communication in English on request
  • electronic data processing - online file-sharing system
  • meeting deadlines
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