The taxation effects of the new system of adult education
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Taxation effects of the system of adult education
As surprising as it may sound to many people, but several aspects of the work of financial specialists is also affected by the changes in the Hungarian adult education introduced in 2020. As a consequence of the recent amendments, the scope of the Adult Education Act has been changed significantly, meaning that – among many other tasks – registration and reporting obligations now also apply to several forms of education and training that could be freely organized previously with much less administrative burden.
The interpretation of the new provisions has kept busy, for several weeks now, not only those making a living from education, but also the HR specialists, who are often in charge of organising trainings, as well as the accountants and taxation specialists of companies. This is because the amendment of the Adult Education Act brought significant changes also in the VAT Act, but also has an effect on corporate income tax and local business tax obligations.
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