In response to the extensive destruction caused by Russia to Ukraine’s critical energy infrastructure, the Ukrainian government continues to implement emergency measures to restore energy-generating capacities and ensure energy stability across the country.

Since 1 July 2023, interest income has been subject to a 13% social contribution tax (‘szocho’) in addition to the 15% personal income tax (‘szja’). Originally this was only for the duration of the emergency caused by the armed conflict in Ukraine. However, a new act published in the Hungarian Official Gazette on 18 June 2024, changed the situation.

In its latest decision of May 16, 2024 the European Court of Justice (ECJ) reflected on the Hungarian foreign VAT refund regime. ECJ established once again that non-compliance with formal requirements should not prevent reimbursement of VAT provided that substantive requirements can and have been satisfied.

Vasil Kisil & Partners has successfully represented Rost Agro in a UAH 33 million tax dispute before the Court of Appeal.

The Supreme Administrative Court (SAC) ordered the National Revenue Agency (NRA) to repay default interest charged on precisely defined and fully paid advance corporate income tax instalments that were not declared.

The announcements made by the Hungarian Government on 8 July 2024 envisage a number of new and higher payment obligations, as well as other public taxes and restrictions, that will include a defence contribution, increased administrative fines, extra profit tax, changes to social contribution tax on entering the labour market, transaction and currency exchange levies