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 …
The post Changes to payroll taxes as of 1 July 2020 appeared first on Helpers Finance.
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 …
The post Changes to invoicing obligations in Hungary from 1 July 2020 appeared first on Helpers Finance.
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.
The post What to do when you made a mistake on an invoice? Correction and cancellation in Hungary appeared first on Helpers Finance.
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 …
The post Pandemic relief: state aid, modified payroll taxes and unpaid leave rules appeared first on Helpers Finance.
Whenever the basic data of your Hungarian company are changed, the new data must be registered officially, so all those interested can access up-to-date information in the company registry.
The post Company modification in Hungary appeared first on Helpers Finance.
Learn about the set of economic relief measures that intend to alleviate the economic burdens of companies and self-employed persons operating in the sectors most affected by the coronavirus pandemic in Hungary.
The post Economic relief measures in Hungary due to the coronavirus pandemic appeared first on Helpers Finance.
KIVA, or the small business tax benefits companies in the service industry in Hungary. It is best for companies selling their expertise instead of goods.
The post KIVA, the small business tax in Hungary appeared first on Helpers Finance.
When and who to report changes connected to child benefits (family allowance and family tax benefit)
It is your task as a responsible parent to keep track of your and your children’s status and report any changes to the authorities AND to your employer’s accountant to make sure you receive the right amount of child benefits.
The post When and who to report changes connected to child benefits (family allowance and family tax benefit) appeared first on Helpers Finance.
Family allowance is one of the best-known child benefits in Hungary, a general financial support paid directly by the state to all families bringing up children.
The post Family allowance in Hungary appeared first on Helpers Finance.
When you are buying goods or services in Hungary, their price will most probably contain VAT. However, this VAT may be deducted from the VAT your own company is paying to the Tax Authority.
The post VAT deduction in Hungary appeared first on Helpers Finance.