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The German Federal Ministry of Finance (BMF) published the updated 2024 Transfer Pricing Administrative Principles on 12 December 2024, which also address the new requirements for cross-border group financing according to Sec. 1 (3d) Foreign Tax Law (AStG) and clarify their application in several aspects.

With the German Bundestag soon to be re-elected, entrepreneurs are more concerned than ever about the changes to tax and business law they will face after the turn of the year. Numerous regulations have already been finalized and will apply from 2025. You can find an initial, though not exhaustive, overview of the key new tax and business law regulations in Germany for you and your company here.

After the German Federal Council approved the Annual Tax Act 2024 on 22 November 2024 and the law was published in the Federal Law Gazette on 5 December 2024, the regulations contained therein can enter into force.

Hungarian business units of a corporate group that fall under the provisions of the global minimum tax (GloBE) must comply with certain registration requirements with the Hungarian tax authorities by 31 December 2024. Otherwise, fines may be imposed.

With the draft of the so-called DAC9 Directive, the EU Commission proposes amendments to simplify the obligation to submit the minimum tax report.

The revised version of the International Standard on Auditing (ISA) 600, an important auditing standard for group audits, has been revised to increase clarity and uniformity and to define the duties of the group auditor more precisely. The main objective of this revision is to improve the quality of audits of consolidated financial statements.