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Judit Kresz

Senior Associate

Portrait ofJudit Kresz

Judit Kresz

Senior Associate

Contact
CMS Cameron McKenna Nabarro Olswang LLP
Hungarian Branch Office
YBL Palace
Károlyi utca 12
1053 Budapest
Hungary
Languages Hungarian, English, German

Judit is senior associate in the tax team of CMS Budapest.

Judit is a tax law professional with 14 years of experience gained at one of the Big4s and large corporations. Prior joining to CMS Budapest she worked for a mid-sized law firm as Head of Tax, leading the regional tax practice of 9 countries within CEE.

Her areas of expertise range from Hungarian and international income tax, to M&A and transfer pricing issues. She has advised clients on tax allowance and state aid issues and gained valuable experience in tax procedures, including preparation of claims to Tax Authority and ruling requests to Finance Ministry.

Judit is a registered tax advisor and member of the Budapest Bar.

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Relevant experience

  • A major OEM on one of the largest greenfield industrial developments in Hungary, including extensive support with state incentives.
  • SRF Limited on all legal, state-aid and tax aspects of its greenfield investment in Hungary, which is its first investment in Europe, including assisting the client on all direct and indirect tax matters applicable to the company’s business and on negotiations with the Hungarian authorities for direct state aid.
  • E.ON Hungaria on the acquisition of Innogy group including two takeovers bids where E.ON Hungária Zrt. offered to purchase all the outstanding shares in ELMŰ Nyrt. and ÉMÁSZ Nyrt, and with all tax issues.
  • Liberty Global on the Hungarian, Czech and Romanian aspects of Vodafone’s EUR 18.4bn acquisition of Liberty Global’s European assets, including reviewing the Tax Disclosure document and the tax warranties.
  • A major discount supermarket chain on tax advice on various matters concerning its Hungarian operations.
  • A major energy company in a cross-border gas repo transaction over storage gas where the actual natural gas was stored in a customs warehouse in Hungary and in other eligible facilities in the Czech Republic and Slovakia, including advising on specific VAT issues relating to certain gas trading scenarios.
  • A major low-cost aviation company on the reorganisation of its CEE operations, including structuring how to engage staff from the employment and payroll taxes point of view and preparing tax models for the pilots, as well as tax advice on the government’s COVID-19 related measures for the aviation sector and their applicability to the client.
  • Goodman, an Australian-integrated commercial and industrial property group, on the construction and “built-to-suit” letting of a 87,200 sq. m. greenfield logistics facility.
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Memberships & Roles

  • Budapest Bar
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Education

  • 2018 - LLM course in International and European Tax Law (ELTE Institute for Postgraduate Studies)
  • 2013 - Postgraduate course for lawyers in Economics, Corvinus University, Budapest.
  • 2004 - Doctor of Law, Summa Cum Laude, Eötvös Loránd University, Budapest.
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Expertise

Feed

26/07/2023
Termination of the US-Hungary double tax treaty – time is growing short...
Fast action is crucial as it becomes clear that Hungary will no longer have a double taxation treaty with the US from 1 January 2024. The assessment of each taxpayers’ situation with US and Hungary...
Law-Now Tax
11/05/2023
Non-solvent restructuring, bankruptcy, liquidation
Bankruptcy law, banking law con­sid­er­a­tions:Sub­stant­ive rules in bankruptcy and liquidation pro­ceed­ingsLa­bour law aspects, in­clud­ing:Re­struc­tur­ing Col­lect­ive dis­missal­Cor­por­ate and tax law aspects, in­clud­ing:Cer­tain...
Event Legal
25/07/2022
Hungary reshapes KATA small-business tax making many ineligible
After days of street protests, the Hungarian government announced the new act on the reshaped KATA taxation regime after an extremely rapid legislative process. The new rules significantly narrow the...
Law-Now Tax
20/07/2022
US terminates double tax-treaty with Hungary
On 8 July 2022, the U.S. Treasury Department announced the termination of the double-tax treaty with Hungary. The treaty, which scores of US investors called very beneficial, was concluded in 1979 and...
Law-Now Tax
22/06/2022
Hungary introduces extra taxes on banking and insurance sectors
On 4 June 2022, the Hungarian government adopted a new government decree introducing sector-specific taxes for companies viewed by the government as generating "extra profits" in the current adverse economic...
Law-Now Tax
27/05/2022
Hungary introduces sector specific taxes to companies generating "extra...
On 25 and 26 May, the recently re-elected Hungarian government announced new sector specific taxes for 2022 and 2023 as a response to difficulties caused by the war in Ukraine and the increased prices...
Law-Now Tax
29/10/2021
Trends and new VAT rules in EU e-commerce
This webinar is one of a series of accreditation conferences approved by the Hungarian Bar Association as part of the new compulsory accreditation system in Hungary.  Trends and new VAT rules in EU e-commerce ...
Event Webinar
08/05/2020
Hungary announces extended corporate tax relief for investments and developments
As part of the measures taken to restart Hungary's national economy as a result of the coronavirus epidemic, special rules of development reserve have been announced in order to help companies recover...
Law-Now Tax
23/04/2020
Details of further tax breaks and extensions enacted in Hungary
New provisions of the Hungarian “economy saving package" have been announced. After imposing extra taxes on banks and the retail sector, the Hungarian government published new regulations that provide...
Law-Now Tax
15/04/2020
Hungary to create economic relief fund by taxing banks and retailers
The Hungarian government has announced a major "economy saving package". The package brings extra taxes rather than support to the banking and retail sectors, allowing the state to collect EUR 157 million...
Law-Now Coronavirus (COVID-19)
16/12/2019
Hungarian tax authority launches public consultation on SAF-T
As Hungary prepares for the introduction of the Standard Audit File-Tax (SAF-T), the national tax authority has launched a public discussion to collect feedback from the business community, software developers...
Law-Now Tax
12/09/2019
New trends and challenges on the Hungarian M&A market (Part 2)
CMS Budapest is delighted to invite you and your colleagues to the second part of our M&A business breakfast on the corporate law and related tax law actualities. We will discuss topics such as dispositive...
Event Legal
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