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.
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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.
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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.
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.
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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.
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.
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.
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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.