BUDAPEST: Hungary’s Deputy Secretary of State for Tax, Zoltán Pankucsi, has announced that the country will establish a new authority to oversee tax and financial advisers.
In response to a series of scandals in recent years, Hungary’s Government plans to establish a new authority that will be responsible for overseeing the affairs of accountants, tax experts, certified tax advisers, and auditors. It will also be responsible for setting education and training requirements, issuing work permits, supervising service providers, and where necessary imposing penalties.
Pankucsi said that the professional standards required of advisers have come under scrutiny and the Government needs to take responsibility for ensuring the necessary safeguards to ensure that businesses can be confident in trusting industry professionals. The Government hopes to work with reputable service providers to push forward with the initiative.
