The rules and regulations on issuing an invoice set by the Hungarian Tax Office are stricter than in many European countries. Keeping the following points in mind, you’ll be able to easily conform to the regulations and avoid Tax Office fines. Basic data First, you need the basic data of the buyer: their official company […]
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If you buy supplies or equipment that you need for your company’s operation in Hungary, you can write these off as company-related expenses, which decreas the company tax you have to pay at the end of the fiscal year. But be careful: to be able to do this, you need to get a fiscal invoice […]
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Dividend is a payment made to the company’s owners from the profit after taxation and free accumulated profit reserves. This also means that if a company did not produce profit, it cannot pay a dividend.
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Employees are entitled to wage supplements when they work overtime, on weekends, at night or on state holidays. As the employer, it is your legal responsibility to determine your employee’s schedules, so you need to take the mandatory wage supplements into account when doing so.
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Keeping your Hungarian company compliant starts with submitting all reports and accounting documents on time, paying taxes, contributions and salaries when they are due and ensuring all contracts and invoices conform to regulations. In order to ensure this, you need to gather reliable information about all your business partners; ideally, before you start any business […]
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Hungary has a number of state holidays when shops and offices are closed, and employees are usually not required to work. In addition, Hungarian Labor Law states that all employees are entitled to a minimum of 20 days of paid vacation per year.
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In most of Europe, the local official language is used by the Tax Authority, government and municipality offices, in banks, in contracts and in everyday life. Hungary is no exception: most letters a business owner has to read and most forms they have to fill in are in Hungarian. Similarly, the customer service representatives of […]
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Buying into a franchise you will be in control of your own business and develop it at your own pace while also enjoying the benefits of an established brand, a proven and successful business model, and a local partner who is just as devoted to your success as you are.
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Buying a company is not only a convenient option, but usually requires less paperwork and offers an easier start. However, thanks to the quick administrative procedures and our well-coordinated partners, registering a new Hungarian company is much easier and quicker than buying a ready-made business.
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According to the new taxation plans accepted by the Hungarian Ministry of Economics for 2017, corporate tax will be lowered to only 9% starting on the 1st of January 2017. This means that Hungary will have the lowest corporate tax in the European Union and the Schengen zone. The corporate tax decrease will affect small […]
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