Accountancy
KIVA is a tax for small businesses in Hungary. As opposed to running an LLC and paying the “regular” taxes (9% corporate tax and various other taxes, especially on payroll), the 11% rate of KIVA includes corporate tax, social contribution tax and vocational training levy. This, combined with how the tax base is calculated, makes …
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Other than a popular given name among the ladies, KATA is also an important term when it comes to freelancing in Hungary: it is a special form of taxation for the self-employed. However, some have found themselves in a difficult situation due to the pandemic. In this blog post, we tell you about the process …
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The recent changes to regulations have increased the minimum wage in Hungary by 4%. The guaranteed minimum salary, another type of minimum pay, has also grown by the same amount. In this blog post, we explain how this affects your accounting.
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As of 1 February 2021, the minimum wage is raised to gross HUF 167,400, and the guaranteed minimum salary to gross HUF 219,000. Learn how this affects your company costs.
The post Salaries and payroll taxes in 2021, Hungary appeared first on HELPERS.
If you want to build lasting and fruitful business relationships locally, you should get familiar with basic business etiquette in Hungary. Show your respect towards your partners by being well-dressed, punctual, and polite.
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There have already been several tax related changes this year, and now here are the most relevant changes for employers and employees taking effect on 1 July 2020. Reduced social contribution tax The social contribution tax paid by employers on top of the gross salary is reduced from 17.5% to 15.5% as of 1 July …
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As of 1 July 2020, the obligations related to invoices issued by your Hungarian company will change in order to make the economy more transparent. Certain invoices must be reported to the Tax Authority immediately, while all invoices must be issued sooner after performance. Report invoices immediately When your Hungarian company issues an invoice to …
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Since accountancy and bookkeeping is strictly regulated in Hungary, there are also strict rules governing how to correct possible mistakes on invoices. To keep things transparent, you can either create a correction invoice or a cancellation invoice.
The post What to do when you made a mistake on an invoice? Correction and cancellation in Hungary appeared first on Helpers Finance.
While decreasing business volumes caused by the pandemic place an unexpected burden of both employers and employees, various benefits and tax reductions help business owners in Hungary to retain work force while keeping their business afloat. State aid for reduced working hours Lower business volume means less income as well as less work. As a …
The post Pandemic relief: state aid, modified payroll taxes and unpaid leave rules appeared first on Helpers Finance.
Part of the economic relief measures in Hungary due to the coronavirus pandemic, some payroll taxes are reduced to help retain employees and heighten job security. The structure of fringe benefits and healthcare contributions also changes.
The post Payroll taxes and contributions reduced in Hungary during the pandemic appeared first on HELPERS.