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Accounting of branch offices
RSM DTM Hungary Tax and Financial
Advisory Services Plc.
Accounting, tax consulting, payroll and HR
consulting – these are the pillars of RSM
DTM Hungary Plc. Thanks to the outstanding quality we deliver our company is now
acknowledged as one of the dominant
market players of the Hungarian consulting
community. In order to provide our clients
with full range of financial consulting
services RSM DTM Audit Ltd.’s services
complement the activities of
RSM DTM Hungary Plc.
In addition to medium-sized Hungarian
enterprises, foreign-owned multinational
companies also represent a significant part
of our client portfolio.
Our services
Accounting services
Tax consulting
Tax representation
International tax representation
Audit
Payroll services
HR consulting
About RSM International
We are members of the RSM network, the
seventh largest network of independent
audit, tax and advisory firms in the world.
RSM is the 7th largest network of
independent audit, tax and advisory firms in
the world. RSM has 111 member and
correspondent firms in 107 countries, 678
offices worldwide. Combined fee income of
US $3.7bn
More information about RSM International,
please visit www.rsmi.com.
As part of our branch office accounting service, we elaborate the accounting system of the
Hungarian branch offices of foreign enterprises, prepare and file the Hungarian tax returns of the
branch office and make sure that the bookkeeping of the branch office is in compliance with both
Hungarian and foreign accounting regulations.
What is this information about?
The Hungarian branch offices of foreign enterprises must comply with complex legal regulations.
They must observe not only Hungarian laws, but also relevant provisions of international tax law
(bilateral agreements, EU directives, the OECD Model Convention, the Commentary and the Report
as well as the OECD Transfer Pricing Guidelines). The accounting system of the branch office must
be set up so that the data generated ensure legal compliance in a reliable and efficient manner.
In addition to external data supply, branch offices must also prepare regular reports and
statements for their parent companies which often include a presentation of the differences
between the Generally Accepted Accounting Principles (GAAP) of Hungary and the state in which
the parent company has its seat.
What advantages does our service offer?
We perform the tasks relating to internal and external data supply and the taxation of the branch
office flexibly and adjusted to the special needs and characteristics of our clients, enabling them
to continuously identify and manage risks.
The advantages offered by our branch office accounting service are as follows:
- transparent, efficient and reliable accounting system, which supplements parent company
solutions and builds on most efficient industry experiences;
- presentation and proper handling of the differences concerning the branch office of the
bookkeeping and taxation of the Hungary and the state of the parent company;
- accurate financial data, tax calculations;
- online access to foreign language reports;
- support for the Hungarian launch of internal parent company programs;
- identification and management of risks, improvement of transparency;
- smooth closing of the year and disclosure of accounts;
- co-operation and foreign language communication with the parent company, supporting of
the branch office’s activity;
- continuous consulting support;
- preparation of internal reports by the relevant deadlines;
- smooth, calculable and fast closing;
- audit support.
RSM DTM Hungary Plc. | H-1138 Budapest, Faludi utca 3. | P +36 1 886 3700 or 886 3701 | F +36 1 886 3729 | W www.rsmdtm.hu | B http://blog.rsmdtm.com/ | E [email protected]
Accounting of branch offices
Why should you turn to us?
1. Our service is based on a solution, which considers special parent company features (e.g. the currency of bookkeeping, business year,
data storage in primarily international systems etc.) and industry characteristics while ensuring that the accounting system and the
data derived from it satisfy the accounting and tax regulations pertaining to the branch office.
2. Our experts have several years of practical experience in the planning and development of accounting systems best adjusted to the
special characteristics of various industries (from manufacturing to commerce) and the efficient operation of branch office
accounting solutions.
3. Our work processes are highly automated with results tested regularly at critical points.
4. If requested (typically at an early stage of co-operation) we assess existing processes, make recommendations for more efficient
solutions and continuously evaluate results and experiences during an introduction period determined jointly.
We perform the following tasks for our clients within the scope of our branch office accounting service:
- we review the accounting system of the parent company and the conditions of compliance with Hungarian regulations, we make
recommendations for the improvement of work processes and work allocation and, if requested, perform reconciliations directly with
the parent company in this regard;
- we review the processes and technologies relating to the fulfilment of domestic tax obligations, reporting, closing and the
preparation of the financial statements and identify development opportunities;
- we develop an accounting system with special solutions in compliance with Hungarian requirements, which efficiently supplements
the bookkeeping of the parent company based on different bookkeeping principles and ensures feed-back according to our client’s
needs on the items treated differently due to the differences of the bookkeeping principles;
- we take care of the branch office’s bookkeeping in line with Hungarian regulations;
- we assess and summarize the Hungarian tax obligations of the branch office taking into account relating activities of the parent
company or the company group and prepare and file Hungarian tax returns;
- we prepare the financial statements of the branch office;
- we provide support during the audit.
For professional support, please contact:
Miklós Héhn | partner, head of accounting services | E [email protected]
Péter Ágoston | partner, business development | E [email protected]
RSM DTM Hungary Plc. | H-1138 Budapest, Faludi utca 3. | P +36 1 886 3700 or 886 3701 | F +36 1 886 3729 | W www.rsmdtm.hu | B http://blog.rsmdtm.com/ | E [email protected]

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