A foreigner looking to start a company in Hungary can be perplexed by the many forms of business offered by the country. The most popular one is undoubtedly the Ltd (Kft in Hungarian), but there are many more, each with different benefits and limitations.
The post Subsidiaries and other forms of business in Hungary appeared first on Helpers Finance.
Starting from 1 July 2021, VAT will apply to all non-EU purchases. The regulation change will have a significant effect on distance sales into the European Union. In order to facilitate the collection, declaration, and payment of VAT under the new regulations, the IOSS scheme was created for sellers as an extension to the already …
The post IOSS: the VAT system for e-commerce into the EU appeared first on Helpers Finance.
NÉTAK gives mothers of four or more children an exemption from paying personal income tax. They will earn more while the employer’s costs related to their salary do not increase, making NÉTAK beneficial for both employer and employee.
The post NÉTAK: the tax benefit of mothers of four or more appeared first on Helpers Finance.
If you buy goods from outside the European Union often, you probably know that value added tax and customs duty do not apply to such purchases under a certain value. But have you heard that the regulation is about to change? The new rules eliminating VAT exemption for non-EU purchases will take effect on 1 …
The post VAT exemption of non-EU purchases ends in July appeared first on Helpers Finance.
If you live and work in Hungary, you must file tax returns in Hungary every year. With the 20 May deadline for filing your tax returns for the previous calendar year approaching, read a summary on the process and make sure you stay abreast of this topic and avoid unpleasant surprises. Tax return drafts: a …
The post Tax returns in Hungary: the essentials appeared first on Helpers Finance.
Taxation is simple if you only have income where you live. However, it gets complicated when you start making money in two countries. By determining your tax residency, you can find out where you need to pay taxes. There are a lot of factors to consider, but Helpers Finance has years of experience in this …
The post Why your tax residency may differ from your address appeared first on Helpers Finance.
Do you have taxable income in Hungary? If yes, you can choose to donate a small part of your taxes to charitable causes. What is best, this is a donation that does not cost you any extra money, since you pay the same amount in taxes, while you can specify who gets to spend it. …
The post Personal income tax donation: redirect 1% of your PIT to an NGO appeared first on Helpers Finance.
To do business in Hungary, you will most likely need a Hungarian VAT number. This number is used for invoicing and taxation purposes: to put it simply, it is what identifies you as a company (or a freelancer) at the Tax Authority. It is not to be confused with the tax ID, which is what …
The post How and when to register a Hungarian VAT number appeared first on Helpers Finance.
KIVA is a tax for small businesses in Hungary. As opposed to running an LLC and paying the “regular” taxes (9% corporate tax and various other taxes, especially on payroll), the 11% rate of KIVA includes corporate tax, social contribution tax and vocational training levy. This, combined with how the tax base is calculated, makes …
The post KIVA: a small tax for small businesses in Hungary appeared first on Helpers Finance.
Have you heard about double taxation? The expression may sound intimidating: paying taxes once is just about enough, right? Luckily, double taxation is not too frequent, but it is important to be familiar with the mechanism. In this blog post, we explain the basics. When does double taxation apply? If you work in your country …
The post Taxes in Hungary: avoiding double taxation appeared first on Helpers Finance.