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HUF exchange rates in Q1 2025

The HUF/EUR exchange rate has been through a ride over 2024, but since January, EUR is back under HUF 400. USD is also back under HUF 370 since early March. How is this happening? Read on to find out.

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Price margin cap to combat inflation in Hungary in 2025

The Hungarian government decided to combat inflation by introducing a price margin cap on basic groceries. They have issued a list, and retailers selling items in these categories cannot increase their margin on such items until the cap is in place.

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Hungarian GDP starts growing again in Q4 2024

After difficulties in 2023 and 2024, Hungarian GDP is again on the rise. The volume of gross domestic product was 0.5% higher in Q4 2024 than in Q3 2024, and 0.4% higher than in Q4 2023. The increase might seem small, but it indicates a turn after a lengthy period of challenges.

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Cash and digital payment in Hungary

According to the latest surveys, cash remains a strong element of Hungarian economy, while digital payment methods are slowly gaining ground.

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Local business tax in Hungary

While corporate tax in Hungary is the lowest in the EU at just 9%, there is another profit tax business owners must keep in mind: the local business tax, or HIPA in Hungarian. It means an additional 2% tax on your net income, depending on where your business operates. Get an overview below. “Local” means …

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Can I put my own money in my Hungarian company?

You can use your personal money to provide the share capital of your Hungarian company. Once that is done, however, your own money and the company’s money are separate, and you cannot make transfers freely or without proper documentation.

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Tax brackets in Hungary

Hungary does not have a progressive tax system, so it doesn’t really have tax brackets. However, it offers various tax benefits and preferential tax regimes that are available under certain income limits.

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Global minimum tax 2025: Hungary is a Safe Harbour

This is good news for multinational companies operating in Hungary, as both their tax and administrative burdens lighten.

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Revenue cap increased for VAT free business operation in Hungary

As of January 1, 2025, the revenue cap for VAT exemption is increased to HUF 18 million in Hungary. This is great news to small businesses, since price increases of the last few years would have otherwise forced them to become VAT subjects.

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