Hi,
I am trying to get our Hungarian tax affairs in order and would appreciate some opinions on the following. (Property bought as an individual).
1. Is there a requirement to produce a tax clearance certificate (confirming tax is in order) if you want to sell the property in question?
2. Has anyone had experience of paying tax owed for previous years, are there normally penalties associated and if so are they high?
3. Our management company seems to have a relaxed attitude about our tax obligation , has anyone else experienced this? (They are suggesting that most of the foreign properties they manage are not registered for tax).
4. Do you generally end up paying some tax in Ireland associated with Hungarian property (I understand there is a double taxation treaty in place).
5. Finally, is there an ability to offset Hungarian expenses incurred, ie management fees, fixtures and fittings against Hungarian tax obligation?
6. Anyone any idea of typically fees charged for filing tax returns on our behalf. Do people normally engage Hungarian or Irish company to complete return?
Thanks
I am trying to get our Hungarian tax affairs in order and would appreciate some opinions on the following. (Property bought as an individual).
1. Is there a requirement to produce a tax clearance certificate (confirming tax is in order) if you want to sell the property in question?
2. Has anyone had experience of paying tax owed for previous years, are there normally penalties associated and if so are they high?
3. Our management company seems to have a relaxed attitude about our tax obligation , has anyone else experienced this? (They are suggesting that most of the foreign properties they manage are not registered for tax).
4. Do you generally end up paying some tax in Ireland associated with Hungarian property (I understand there is a double taxation treaty in place).
5. Finally, is there an ability to offset Hungarian expenses incurred, ie management fees, fixtures and fittings against Hungarian tax obligation?
6. Anyone any idea of typically fees charged for filing tax returns on our behalf. Do people normally engage Hungarian or Irish company to complete return?
Thanks