Accountancy
A double taxation treaty is an agreement between two countries that lets them protect their tax residents from paying taxes twice after the same income – something that might happen if rules of taxation are applied without discretion.
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When you make a written agreement about anything, it should cover certain topics to ensure that both parties are aware of their rights and obligations. If there is a dispute in the future, it can be settled based on the terms laid out in the contract and in the relevant law.
The post What to include in a contract in Hungary? appeared first on Helpers Hungary.
Extended Producer Responsibility is the concept that manufacturers and distributors are responsible for the entire life cycle of a product, not just up till the point of sale. In line with this, EPR charge is a type of tax that is supposed to cover costs of the treatment of products at the end of their life cycle, namely, waste management and recycling.
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If you own a Hungarian company, you cannot just withdraw cash from its business account and do with it what you want. The company is a separate legal entity, and its money is technically not your money anymore. Every cash withdrawal from a company needs to be justified and documented.
The post How to withdraw cash from your business account? appeared first on Helpers Finance.
The EU is preparing to overhaul its customs management system. The main point is to reduce the unfair competitive edge some (typically Asian) e-commerce platforms have over European manufacturers and sellers. As a first step, from July 1, 2026, a EUR 3 customs duty will be introduced on shipments worth below EUR 150 which have been duty-free so far (only local VAT has been mandatory for them).
The post New customs duty introduced for non-EU packages from July 1, 2026 appeared first on Helpers Finance.
The EU directive on pay transparency is supposed to be implemented by June 7, 2026 in all member states. Because of the recent general elections and change of regime in Hungary, the introduction of the new regulations will probably be delayed. However, Hungarian companies should still prepare for the new obligations.
The post Pay transparency rules probably postponed in Hungary appeared first on Helpers Finance.
If your Hungarian company does not comply with regulations, its tax number can get canceled and the company can be liquidated. However, this forced liquidation procedure can be stopped if you take steps to restore compliance.
The post How to stop forced liquidation at your Hungarian company appeared first on Helpers Finance.
What you know as sales tax in the U.S. is more or less the same as VAT or Value Added Tax in Europe. Both are consumption-based taxes that are collected indirectly, meaning that while it is the end user who ultimately pays them, they are integrated into prices and collected by the seller. However, while sales tax should be collected only from the end user, VAT is collected at every point of sale – while remaining economically neutral for businesses.
The post What is the difference between sales tax and VAT? appeared first on Helpers Finance.
Small companies operating in industries where long delays are typical between invoicing and settlement sometimes struggle with paying VAT on time – since the VAT content of their invoices must be paid according to the date of delivery, not settlement. Cash accounting was designed to counterbalance this, but it has some serious drawbacks.
The post Cash accounting at your Hungarian company appeared first on Helpers Finance.
In the European Union, most countries have a minimum wage. Each state determines their own minimum wage, and they adjust it regularly to maintain it as a living wage that provides a decent standard of living for full-time workers. A minimum wage can also increase productivity and motivate efficient business operation. Hungary has a minimum wage too; it is applied to everyone without exceptions and adjusted yearly.
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