Last week the 2024 changes to taxes in Hungary were announced. While the package a number of tax increases to counter inflation, most taxes directly relevant to doing business, such as corporate tax and payroll taxes remain the same. Read on to see what’s new.
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In Hungary, social contribution tax is paid on various types of income of natural persons. The tax is aimed toward supporting social institutions, such as pensions and allowances. Its rate is 13% of the tax base. Read on to get a quick summary of how it works.
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As another measure aiming to reduce inflation, Hungary is now introducing mandatory discounts for retail stores selling food, groceries, and the like. The first discounts under this scheme must start on 1 June 2023. Will this affect your business? Read on to find out.
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While personal income tax in Hungary is 15% for everyone, various tax benefits may be applied to that based on age, marital status, and other circumstances. Get an overview of the most important tax benefits below so you will know when you or your employees can get more out of your gross salary.
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If you are running a business in Hungary, you must pay a local business tax to the municipality where your business is registered. Even if you don’t need to pay, you must submit a report every year. Read on to learn how to report HIPA – and why it makes sense to have an accountant take care of it.
The post Report HIPA (local business tax) for 2022 on the 22HIPAK form by 31 May appeared first on Helpers Finance.
If you are running a business in Hungary, you are also paying a local business tax to your local municipality. The next important deadline is 31 May, and if your registered address is in Budapest, you can pay the tax by card as well as by bank transfer.
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Tax returns season has come in Hungary. If you are a tax resident, you will need to file your personal income tax report by 22 May. These days it is really simple: just takes a few clicks on the online platform of the Tax Authority.
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At the latest Thursday government press conference, new forms of price control have been announced that intend to ease inflation in Hungary, boost the purchase power of households, and support small businesses. However, they might not be as beneficial as intended.
The post New price control measures introduced in Hungary to ease inflation appeared first on Helpers Finance.
March inflation data has just been published, and they allow some insight into the latest developments in Hungarian economy. Get a quick overview here.
The post Inflation decreasing, core inflation increasing in Hungary in Q1 2023 appeared first on Helpers Finance.
Starting from this year, flat-rate taxpayers must report their income and pay their taxes not monthly but quarterly. This is done easiest through ONYA, the online reporting platform of the Hungarian Tax Authority. The relevant form 2358 has just received an update to become more user-friendly.
The post Revamped form 2358 makes reporting easier for flat-rate taxpayers appeared first on Helpers Finance.