Accountancy
Talks of a global minimum tax have recently become a hot topic after several international players proposed it. In May both the USA and the OECD made mentions of such a tax, and in June the G7 made a commitment towards its introduction. However, Hungary is against it, for now.
The post Global minimum tax to be introduced soon? appeared first on HELPERS.
The government recently had to adjust the corresponding rules due to the economic impact of Covid. But what are these changes are and how long will they be in place?
The post How does the SZÉP card work in times of Covid? appeared first on Helpers Finance.
In line with new regulations, the MOSS (Mini One Stop Shop) will be renamed to OSS (One Stop Shop) and extended to cover a wide range of goods.
The post The OSS at work: VAT rates in the European Union appeared first on Helpers Finance.
If you are shipping from a non-EU country, where and when to pay VAT and customs duty becomes a crucial factor in calculating costs. Planning to purchase something from a third country? Learn about the shipping regulations first.
The post Non-EU shipping regulations: VAT and customs duty appeared first on Helpers Finance.
Starting from 1 July 2021, VAT will apply to all non-EU purchases. The regulation change will have a significant effect on distance sales into the European Union. In order to facilitate the collection, declaration, and payment of VAT under the new regulations, the IOSS scheme was created for sellers as an extension to the already existing MOSS scheme (which applies only to services). If you own an e-commerce business, you should learn about the requirements of the IOSS and update your procedures for the new scheme.
The post IOSS: the VAT system for e-commerce into the EU appeared first on Helpers Finance.
If you live and work in Hungary, you must file tax returns in Hungary every year. With the 20 May deadline for filing your tax returns for the previous calendar year approaching, read a summary on the process and make sure you stay abreast of this topic and avoid unpleasant surprises.
The post Tax returns in Hungary: the essentials appeared first on Helpers Finance.
To do business in Hungary, you will most likely need a Hungarian VAT number. This number is used for invoicing and taxation purposes: to put it simply, it is what identifies you as a company (or a freelancer) at the Tax Authority. It is not to be confused with the tax ID, which is what you need as an individual to work as an employee.
The post How and when to register a Hungarian VAT number appeared first on Helpers Finance.
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 KIVA very favorable in certain cases. But which Hungarian enterprises can opt for this taxation structure, and when should they?
The post KIVA: a small tax for small businesses in Hungary appeared first on Helpers Finance.
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 and effect of suspending your KATA business, focusing on finances and social security coverage.
The post How to suspend freelancing under KATA appeared first on Helpers Finance.
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.
The post Minimum wage in Hungary increases appeared first on Helpers Finance.