To support people who live with severe health conditions, Hungary offers them a special type of personal income tax benefit. The disability benefit reduces the personal income tax one has to pay, increasing the net salary of employees.
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A new year has started, and again tax regulations are updated and clarified in Hungary. There are no major tax changes this year, but make sure to read our overview and ask your accountant if there is anything you should pay special attention to this year.
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While major taxes do not change very often in Hungary, the system is tweaked every year. Read on to learn about changes to taxes most relevant to employees and HR, such as fringe benefits, the social contribution tax, and taxes on various types of gifts.
The post Changes to taxes in 2024 in Hungary relevant for HR appeared first on Helpers Finance.
Like every year, minimum wages have recently been adjusted to offset the impact of inflation. The minimum wage was increased by ca. 15%, and the guaranteed minimum salary by ca. 10%. There have been no changes to payroll taxes in 2024. At the same time, there are some new features for the SZÉP Card.
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The Hungarian government has announced the minimum wage and the guaranteed minimum salary for 2024. The gross minimum wage will increase by 15%, and the guaranteed minimum salary by 10%. The increase is implemented early, as of 1 December 2023.
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The application of preferred shares at a Hungarian company can obscure the ultimate beneficial owner of the business. This can protect their privacy, but it decreases transparency and might attract the scrutiny of the authorities.
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In Hungary, most highways are toll roads, meaning you need to pay a toll while driving them. That is done easiest by buying a toll sticker for the vehicle, which can function as a weekly, monthly, or yearly turnpike pass for your company car.
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Starting from the middle of November 2023, wine products sold by vineyards will be exempt from representation tax in Hungary. The decision is expected to give a boost to the wine sector at the end of the year.
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As part of the electronic administration in Hungary, personal pension tax records are available for review online. With your Ügyfélkapu access, you can log in to the database of the Treasury, and see if everything is fine. Read on to learn how that works.
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The number of yearly tax inspections conducted by the Hungarian Tax Authority has been steadily increasing over the past few years. The most popular tax inspected continues to be VAT, since it is a major contributor to the national budget. If your company operation is compliant with regulations, you have nothing to worry about.
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