We are inviting you to a webinar organized speicifcally for Chinese investors, with Chinese investors’ interests in mind.
Tax incentives for new investments and ongoing operations
The Hungarian Government welcomes Chinese investors with several incentives that can substantially lower the costs of a Hungarian ivestment, or increase its returns. For example, research and development is highly subsidized throughout its whole life cycle. Cash grants and tax credits support capital investments aimed at R&D, social tax reductions help employers who employ researchers, and various benefits apply to royalty income collected on the intellectual property developed in Hungary. Beyond research and development, generous subsidies – up to 50% of eligible costs – are available for capital expenditure and for investing in human resources, depending on industry and territory.
Cash saving through smart approach to customs & VAT
Customs legislation may allow companies to import goods - that are used for manufacturing - from outside the European Union without having to pay customs duties (or applying lower customs duty rates). This can result in significant customs duty savings.
In addition, by holding the right customs authorizations, applying special value added tax regimes (i.e. VAT warehouse); companies can optimize their customs duty, VAT payments and logistics processes.
Based on our experience, companies do not utilize the potential saving / optimization opportunities available. As a result, they are paying more customs duties and are financing more VAT than necessary.
During our webinar, we will introduce you the most significant customs / VAT schemes that can represent cash saving or financing optimization for companies.
Hot topics for travelers to and from China
Developing business in Hungary often requires Chinese employees to travel to Hungary for shorter or longer period of time and work in Hungary. This requires careful planning to achieve the following benefits:
· Obtain the necessary immigration permits based on the work pattern of the employee in the shortest period of time.
· Be compliant with local and international tax and social security legislation,
· Keep the employment cost level at bay.
During our webinar we will highlight the strategic aspects of the above areas and provide initial guidance on how to start and improve your expatriate program. Furthermore, we will introduce the key incentive types available in 2021 not only to green field investors, but also for businesses already established in Hungary. We will also draw your attention to several important considerations that may help you identify the right incentives and the appropriate approach to ensure the highest possible chance to qualify for these benefits.
15th April 2021, Thursday, 14:00-15:00
Please note that the link of the webinar is going to be sent to your email address on the day of the event.
EY Tax Services