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The essentials of corporate tax in Hungary

Are you planning to set up a Hungarian company? Then learn the basics of Hungarian taxation. Corporate tax will probably be a major part of the taxes to pay, even though in Hungary it is only 9%, lowest in the EU. Read on and get up to speed.

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Uncertainties in the banking world – is 2008 repeating?

Less than two weeks ago, the U.S. American Silicon Valley Bank (SVB) went bankrupt. Since it manages the funds of several Silicon Valley companies that belong in a growth industry in the U.S., there is a worry that the even can start a domino effect. There is already a ripple effect observable globally – will it wear off before it leads to a new recession?

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Vehicle tax payment deadline coming up

If you or your Hungarian business owns a motor vehicle registered in Hungary, you must pay vehicle tax twice a year, by 15 March and 15 September. This tax is different from the company car tax, so make sure you pay it on time. The next deadline is coming up soon.

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Local business tax deadlines for new businesses

Are you new to business? Or maybe just to flat-rate taxation? Either way, you might wonder how and when you are supposed to first pay the local business tax, since it is normally calculated based on the tax of the previous year – and you might not have a previous year.

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U.S.-Hungarian double taxation treaty stays canceled

Last week the Hungarian Tax Authority has published a notice about the effects of the cancellation of the U.S.-Hungarian double taxation treaty. This marks an end to hopes that the treaty might be reinstated or a new treaty might be introduced.

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Tax audit and compliance audit in Hungary: what is the difference?

An audit is a procedure where the books of your Hungarian company are closely examined to reveal possible mistakes. Beside voluntary audits done by independent contractors, the Tax Authority can also conduct audits, so make sure your books are in order.

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Is the loan of the Széchenyi Card Program a good option for your small business?

The Széchenyi Card Program is government-backed loan construction to support development projects at small and medium sized businesses in Hungary. With its 5% interest rate, it is an excellent option in the current financial environment.

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How long will the MNB keep up the tight monetary policy in 2023?

Last week the Hungarian National Bank (MNB) held a press conference about economic expectations in Q1 2023 and the measures it is taking to counter inflation and moderate foreign exchange rates. They are continuing the implementation of a tight monetary policy until more encouraging economic trends are detected.

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Inflation in Hungary – what to expect in 2023

Are you running a business in Hungary? Get familiar with the latest statistics and projections regarding GDP and inflation in Hungary in 2022 and 2023 based on the latest data.

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