Are you planning to purchase real estate in Hungary? You should be aware of a cost that will not be included in the contract: property tax. This blog post explains what you need to know if you would like to avoid an unpleasant surprise from the tax authority after buying your dream home. What is …
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Do you own, manage or do business with multiple SMEs in Hungary? They may be considered affiliated undertakings, which can affect taxation depending on the circumstances. The regulation seems complex, but Helpers Finance is here to help. In this blog post, we explain all you need to know. What is an affiliated undertaking? In Hungary, …
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Imagine that you are at Budapest Airport, waiting at the customs check and about to leave Hungary. As a non-EU resident, you are entitled to value added tax refund after your purchases made in the European Union. However, the conditions are quite complex. The regulation (see the European Commission’s website for more information) focuses on …
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Other than a popular given name among the ladies, KATA is also an important term when it comes to freelancing in Hungary: it is a special form of taxation for the self-employed. However, some have found themselves in a difficult situation due to the pandemic. In this blog post, we tell you about the process …
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We proudly announce that our English-language online Hungarian salary calculator is now available. Check out the Hungarian salary calculator Designed for foreign-owned companies Our clients are mostly foreigners operating a company in Hungary. As such, for them the most important pieces of information are the company cost and the net salary: how much hiring an …
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The recent changes to regulations have increased the minimum wage in Hungary by 4%. The guaranteed minimum salary, another type of minimum pay, has also grown by the same amount. In this blog post, we explain how this affects your accounting.
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There have already been several tax related changes this year, and now here are the most relevant changes for employers and employees taking effect on 1 July 2020. Reduced social contribution tax The social contribution tax paid by employers on top of the gross salary is reduced from 17.5% to 15.5% as of 1 July …
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As of 1 July 2020, the obligations related to invoices issued by your Hungarian company will change in order to make the economy more transparent. Certain invoices must be reported to the Tax Authority immediately, while all invoices must be issued sooner after performance. Report invoices immediately When your Hungarian company issues an invoice to …
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Since accountancy and bookkeeping is strictly regulated in Hungary, there are also strict rules governing how to correct possible mistakes on invoices. To keep things transparent, you can either create a correction invoice or a cancellation invoice.
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While decreasing business volumes caused by the pandemic place an unexpected burden of both employers and employees, various benefits and tax reductions help business owners in Hungary to retain work force while keeping their business afloat. State aid for reduced working hours Lower business volume means less income as well as less work. As a …
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