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 you need as an individual to work as an employee.
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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 KIVA very favorable in certain cases. But which Hungarian enterprises can opt for this taxation structure, and when should they?
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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.
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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.
The post Buying real estate in Hungary: property tax appeared first on Helpers Finance.
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.
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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 focuses on two main aspects: the person who made the purchase and the product that was bought. In this blog post, Helpers Finance tells you the most important details.
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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 and effect of suspending your KATA business, focusing on finances and social security coverage.
The post How to suspend freelancing under KATA appeared first on Helpers Finance.
The main goal of our Hungarian salary calculator is to help foreign company owners make an informed decision before deciding to hire workforce, and save costs on this element of business planning.
The post Hungarian salary calculator available – in English, online appeared first on Helpers Finance.
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.
The post Minimum wage in Hungary increases appeared first on Helpers Finance.
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.
The post Changes to payroll taxes as of 1 July 2020 appeared first on Helpers Finance.