We have already written about most changes to taxation in Hungary 2022 – most of which are tied to the ongoing pandemic and the government’s efforts to increase the purchase power of salaries while also creating a more favorable business environment for companies. Now see a summary of the changes, with links to the more …
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Invoicing software and online invoicing tools are great to improve the accuracy of your invoices while reducing work load and promoting transparency. However, even good programming cannot replace familiarity with regulations, while you should also be on the lookout for glitches. Here, have a few examples of what to watch out for! Online invoicing tools …
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Last updated on 28 January 2022. Because of the soaring inflation, Hungary has announced the introduction of a price cap for a handful of basic foods. The price control will be in force starting from 1 February 2022, and will remain in place for 3 months. You can find the official decree here. Price of …
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The white card is a new residency option in Hungary targeting digital nomads: third country citizens employed by foreign companies who perform their job online and like always being on the go. But how does paying taxes work as a white card holder? Let us help you find out! White card: residency for digital nomads …
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January is the season for New Year’s resolutions. But can that be applied to accounting and company management? Of course it can! We have compiled a list of handy tips that can make your business life easier in 2022. Have your paperwork ready for inspection The Tax Authority may inspect your paperwork anytime. Make sure …
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Starting from 2022, people under 25 do not pay personal income tax in Hungary. The new regulation aims at making the employment of young people more attractive to employers, while giving young people a boost in getting independent and starting their own life. Personal income tax benefit of young people from 2022 Under the new …
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Last updated on 21 December 2021. In Hungary, many favorable taxation options are available to small companies and entrepreneurs, depending on the size and type of their business. KATA and flat-rate taxation are both structures that were created to reduce administration – and both will change starting from 2022. KATA KATA is short for Itemized …
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Sometimes it might happen that your accountant “disappears”: they will not answer messages and the phone, and will not continue to take care of your books anymore. Whatever the reason, it is your Hungarian company’s responsibility to make sure your accounting remains compliant with regulations.
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In Hungary, employees are entitled to at least 20 vacation days each year. This is a paid leave, and it is the employer’s responsibility to ensure that their employees actually take these days off in the given year. In some cases, however, vacation days can be carried over to the following year. Learn how and …
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Alongside the next increase to the minimum wage just announced for 2022, social contribution tax will be decreased to even out the financial burden on employers. This way minimum wage employees get a significant raise without a significant increase in their employers’ payroll costs. Social contribution tax decrease over the years 10 years ago, the …
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