In Hungary, every company is required to have accountancy from the moment of company formation. As a result, it is worth choosing a provider that offers both assistance in incorporation and accounting. Company formation and accountancy In accounting, there are some tasks that need to be performed right after company formation. These include mostly reporting …
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Determining tax residency is of key importance in deciding where to pay taxes after income. Normally, a country may levy a tax on income if the individual generating it has tax residency in the given country. However, if an individual is resident of more than one country, the question of where to pay taxes arises. …
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Is your company in need of temporary workforce? Consider simplified employment, which is a simple and cost-effective solution for hiring temporary workers in Hungary. Read on the for the most important questions and answers about hiring temps. Who is a temporary worker? A temporary worker is sometimes also called a casual worker or an occasional …
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One way to make your Hungarian company operate in a more cost-effective way is to reduce payroll taxes. Authorities let you do this if you employ workforce who has difficulties entering the labor market due to some disadvantages compared to other workers. However, they may still prove eager and skilled, while employing them grants you …
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In Hungary, there are many forms of child benefit. The two most important are the family allowance (“családi pótlék”) and the family tax benefit (“családi adókedvezmény”). The basis of both is how many children someone takes care of, either as a parent or a guardian, and how many of them are eligible for child benefit. …
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Finding the perfect candidate for the position at your Hungarian company requires commitment, planning, and remembering all the administrative aspects. See our short checklist here, and a more detailed description below. Formulate the position, job description, salary expectation Advertise the job Filter candidates and find the right one Agree on the gross salary Prepare a …
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Opening a bank account is obligatory for all Hungarian companies. You have to comply within 8 days after company registration. This is a prerequisite of starting your business activity. We usually advise clients to open 3 bank accounts for 3 currencies. Read on to learn why! Open 3 Hungarian bank accounts HUF: for official fees, …
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When you are operating a company in Hungary, your business will probably need one or more employees. For finding the best candidates, you can always rely on an expert recruiter. But what to do when you want to terminate the employment? Read on! Terminating employment contracts of indefinite duration In Hungary, if you are employing …
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