Accountancy
If you run a business, you are probably familiar with the basics of invoicing and know what to write on an invoice. But are e-invoices, PDF invoices or paper invoices the best option for you? There is more to consider than meets the eye.
The post Invoicing in Hungary: e-invoice, PDF, or paper invoice? appeared first on Helpers Finance.
Most business owners in Hungary are used to issuing and receiving invoices with value-added tax. When such an invoice is issued, the buyer must pay the gross amount, and later both parties submit a VAT report indicating the value added tax they received and paid. These two amounts determine whether the seller needs to forward any VAT to the tax authority. Reverse charge works the opposite way: the seller cannot charge VAT because it must be determined and paid by the buyer.
The post Issuing invoices in Hungary: reverse charge on VAT appeared first on Helpers Finance.
Taxes in Hungary are adjusted every year, and the Parliament has recently decided about the next changes to taxation. Some of them will affect your business in Hungary – find out how!
The post Changes to taxation in Hungary in 2021 and 2022 appeared first on HELPERS.
Whether your services are subject to VAT depends on who your customers are and where they are located. Since the applicable VAT rate also depends on the kind of services you sell, international service sales are a complex matter.
The post Selling services – when to charge VAT? appeared first on Helpers Finance.
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.