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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Last updated on 14 November 2021. Last week the new minimum wages were announced. This affects not only employees earning minimum wage or receiving benefits that are calculated based on that, but also the employers who have to adjust their budget, and indirectly, prices of various goods and services. On 14 November, we have updated …
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The ongoing coronavirus pandemic has had dire effects on world economy, creating bottlenecks in supply chains, rearranging the labor market, and increasing inflation, with the effects expected to be felt well into 2022. What are the most obvious changes? Find out with us.
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The personal income tax refund for families, first floated in June, has recently been finalized. Anyone raising children in Hungary can expect a refund on their personal income tax paid in 2021, reimbursed early 2022. Are you eligible? How much to expect? Find out below! Who is eligible for the personal income tax refund? The …
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How to boost the economy during recession, like the one caused by the COVID-19 pandemic? Scandinavian countries have found a recipe that has let them remodel their economy: green taxation.
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We have already discussed plans for the introduction of a global minimum tax. Last week, Hungary agreed to join the convention that aims to set corporate tax at a 15% minimum for international companies that have a yearly revenue above EUR 750 million.
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Every newly registered company in Hungary must choose a tax regime. Is the regular corporate tax or KIVA more beneficial for your company? Check out our new small business tax calculator, and let us help you make an informed decision.
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Climate change is happening. But what does accountancy do with mitigating its effects? Accountants are skilled at creating reports and projections, and they can help managers and investors make decisions that push development toward sustainability and reaching climate protection goals.
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Automation in accounting, just in any other fields, aims at removing simple and repetitive tasks from the workload of specialists, so they can focus on tasks that require more expertise and creativity. Adding AI to the mix will be a next step that enables an even higher level of automation and increase in efficiency.
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