GloBE Advance Tax Return – Key Deadline Approaching

The first Hungarian filing deadline related to the Global Minimum Tax (GloBE) regime is approaching.
Companies with a calendar business year must submit their domestic GloBE advance tax return for the 2024 tax year by 20 November 2025.

If a top-up tax (QDMTT) applies, the amount must also be paid as an advance tax by the same date, effectively functioning as a 100% top-up payment obligation.

Who Is Affected?

For calendar-year taxpayers: deadline is 20 November 2025.
For non-calendar fiscal years: the due date is the 20th day of the 11th month following the end of the business year.

Missing the deadline may lead to substantial administrative penalties.

Why Accuracy Matters

Filing the GloBE advance tax return correctly is not only a formality.
Incomplete or incorrect data can create tax authority compliance risks. Although fines up to HUF 10 million may be waived if the taxpayer acted as reasonably expected, such compliance must be properly documented and verifiable.

What’s in the 24GLBADO Form

The Hungarian Tax Authority (NAV) has published the draft 24GLBADO form, which includes:

the amount of domestic top-up tax (QDMTT) advance payment,
and indication of Safe Harbour or other exemptions applied for the 2024 tax year.

Preparations and Calculations Required

Completing the GloBE advance tax return requires detailed analyses that should already be reflected in the 2024 financial statements, including:

assessment of transitional and permanent exemptions,
and calculation of any top-up tax (QDMTT/IIR) if the effective tax rate is below 15%.

If these reviews are not yet finalized, they should be started immediately to ensure readiness before the filing deadline.

Documentation Is Essential

All data in the GloBE return must be supported by underlying calculations and records, even if no top-up tax is due.
During a potential tax audit, these are typically requested first, so full documentation is crucial.

Next Steps for Companies

Involve finance, tax, and legal experts.
Collect group-level financial and ownership data.
Review eligibility for Safe Harbour or other exemptions.
Prepare effective tax rate (ETR) calculations.
Calculate any required top-up tax and file the 24GLBADO return.

Early preparation ensures compliance and minimizes the risk of audit issues or late filing penalties.